(a) Upon approval of the State Banking Board and payment of the fees, the Bank Commissioner shall give to the persons named as incorporators a certificate of incorporation, in the form that he or she may prescribe, if the commissioner has made satisfactory determinations as to the matters described in § 23-48-304(d)(1)-(4) and is also satisfied that appropriate federal deposit insurance has been obtained.
(b) The commissioner shall also return one (1) of the copies submitted to him or her of the articles of incorporation upon which he or she has endorsed the fact of the issuance by him or her of the certificate of incorporation.
(c) Upon receipt of the certificate of incorporation, the institution may proceed with its business.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 48 - Organization and Operation
Subchapter 3 - Organization and Management Generally
§ 23-48-301. Application for incorporation
§ 23-48-302. Organizational expenses
§ 23-48-303. Promoter's fees prohibited
§ 23-48-304. Investigation of new charter applications by Bank Commissioner
§ 23-48-305. Issuance and filing of certificate of incorporation
§ 23-48-306. Relocation of place of business — Amendment of articles
§ 23-48-307. Objects and method of charter amendment
§ 23-48-308. Filing of amendments to articles of incorporation
§ 23-48-309. Names of state banks and subsidiary trust companies
§ 23-48-310. Minimum capital requirements generally
§ 23-48-311. Increase or decrease of capital stock
§ 23-48-312. Liability of shareholders — Assessment of stock
§ 23-48-313. Classes of stock — Fractional shares — Scrip
§ 23-48-314. Preemptive rights of stockholders
§ 23-48-315. Issuance and sale of capital notes and other subordinated indebtedness
§ 23-48-316. Transfer of stock
§ 23-48-317. Change in control
§ 23-48-318. Stockholder meetings — Notice of special meeting
§ 23-48-319. Stockholder meetings — Notice of annual meeting
§ 23-48-320. Stockholder meetings — Quorum — Voting
§ 23-48-321. Closing transfer books — Fixing record date
§ 23-48-322. Board of directors — Standard of conduct
§ 23-48-323. Officers — Selection — Terms — Bonds
§ 23-48-324. Officers — Taking acknowledgments
§ 23-48-326. Application of Arkansas Business Corporation Act
§ 23-48-327. Registered office and registered agent for service of process