(a) Any state bank, through amendment to its articles of incorporation, may from time to time do the following, which shall be in addition to all things it may otherwise do through amendment under the Arkansas Banking Code of 1997:
(1) Change its corporate name;
(2) Change, enlarge, or diminish its corporate purposes, in accordance with the applicable state law;
(3) Increase or decrease its authorized capital stock, subject to the limitations and in the manner set out in § 23-48-311;
(4) Effect splits of its shares or a distribution of some portion of its assets, other than cash or its own stock; and
(5) Effect any fundamental change in its corporate affairs which may be accomplished by charter amendment under any other statute of Arkansas.
(b) Articles of incorporation of a state bank may be amended at any annual or special meeting of the stockholders.
(c) Except as provided in § 23-48-313(a)(1)(C), unless a greater percentage of votes is required in the articles of incorporation for an amendment of any provision of the articles of incorporation, an amendment to the articles of incorporation may be adopted on the affirmative vote of the owners of a simple majority of each class of stock entitled to vote on the proposed amendment.
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