As a prerequisite to approval of any application for a proposed permanent stock association, the incorporators must show, to the satisfaction of the Savings and Loan Association Board [abolished], subscribed savings accounts from individuals in the aggregate number and amount which, in the opinion of the board, will justify the initial successful operation of the association.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 37 - Savings And Loan Associations
§ 23-37-301. Application for charter
§ 23-37-302. Capitalization requirements generally
§ 23-37-303. Permanent capital stock
§ 23-37-304. Permanent stock associations — Paid-in surplus requirements
§ 23-37-305. Permanent stock associations — Initial subscriptions to savings accounts
§ 23-37-306. Mutual associations — Expense fund requirement
§ 23-37-308. Insurance of accounts
§ 23-37-309. Hearings on charter applications
§ 23-37-310. Approval or denial of application for charter
§ 23-37-311. Failure to commence business — Cancellation of charter
§ 23-37-312. Amendment of charter and bylaws
§ 23-37-313. Changes in name, location, etc
§ 23-37-314. Indemnity bonds of directors, officers, and employees