(a) Without any prior approval of the Savings and Loan Association Board [abolished], a southern region savings and loan holding company having an Arkansas association subsidiary may acquire:
(1) A southern region savings and loan holding company that does not have an Arkansas association subsidiary;
(2) A southern region association that does not have any branch offices in Arkansas; or
(3) To the extent authorized in § 23-37-811(a), an association or savings and loan holding company having association offices which are located outside the southern region.
(b) The southern region savings and loan holding company shall notify the board at least thirty (30) days prior to the consummation of the proposed transaction. The notification requirements of this section are satisfied by furnishing the board with a copy of the completed application seeking approval for the proposed transaction which is filed with the federal savings and loan regulatory authority.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 37 - Savings And Loan Associations
Subchapter 8 - Regional Savings and Loan Act of 1987
§ 23-37-803. Penalties and remedies
§ 23-37-804. Acts requiring prior approval of the board
§ 23-37-805. Acts requiring prior approval of federal authorities
§ 23-37-806. Savings and loan holding company acquisitions not requiring prior approval
§ 23-37-807. Applications to the board for approval
§ 23-37-808. Permissible nondisqualified acquisitions
§ 23-37-809. Prohibited acquisitions