In the event an association wrongfully and without legal right refuses to pay a withdrawal request for a savings account, the owner of the savings account shall be entitled to recover damages from the association equal to interest at the legal rate prescribed by the laws of this state from the date the withdrawal request was refused. The owner shall not be entitled to recover from the association any special damages of whatever kind or nature.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 37 - Savings And Loan Associations
Subchapter 5 - Savings Accounts
§ 23-37-501. Accounts of minors
§ 23-37-502. Accounts in the names of two or more persons
§ 23-37-503. Accounts of fiduciaries
§ 23-37-504. Accounts of deceased nonresidents
§ 23-37-505. Withdrawals generally
§ 23-37-506. Conflicting claims to accounts
§ 23-37-507. Damages for refusal to pay withdrawal request
§ 23-37-508. Power of attorney
§ 23-37-509. Lien on account of borrower — Pledge of third party's account as security on loan
§ 23-37-510. Validity of release or acquittance by officers of corporation or association