(a) Except as specifically permitted under § 23-37-812, no Arkansas association, Arkansas savings and loan holding company, southern region association, or southern region savings and loan holding company having an Arkansas association subsidiary may acquire an association or savings and loan holding company which is not either an Arkansas savings and loan holding company or a southern region savings and loan holding company or an association which is not either an Arkansas association or a southern region association.
(b) Except as expressly permitted by federal law, no association which is not either an Arkansas association or a southern region association and no savings and loan holding company which is not either an Arkansas savings and loan holding company or a southern region savings and loan holding company may acquire an Arkansas association, an Arkansas savings and loan holding company, or a southern region savings and loan holding company controlling an Arkansas association.
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