(a) No association shall directly or indirectly charge any membership, admission, withdrawal, or any other fee or sum of money for the privilege of becoming, remaining, or ceasing to be a member of the association, except charges upon the making or modification of a loan.
(b) No association shall charge any member any sum of money by way of fine or penalty for any cause, except for charges made against borrowers for defaults or prepayments.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 37 - Savings And Loan Associations
Subchapter 4 - Operation Generally
§ 23-37-401. Powers commensurate with federal associations
§ 23-37-402. Authority to act as trustee for certain trusts