Arkansas Code
Subchapter 3 - Organization and Management Generally
§ 23-48-310. Minimum capital requirements generally

(a) For all state banks chartered after May 30, 1997, the fully paid-up capital shall not be less than one million dollars ($1,000,000). For all state banks, regardless of the dates of their charters, the following capital requirements shall apply:
(1) The minimum “capital base” shall be determined by the Bank Commissioner; and
(2) The capital requirements for any state bank must also satisfy the requirements for deposit insurance of the Federal Deposit Insurance Corporation or its successor.

(b)
(1) The commissioner may increase the minimum capital requirement of any state bank, regardless of the date of its charter when, in the commissioner's judgment, conditions within the state bank or the state bank's service area warrant such an increase.
(2) In the event the commissioner orders an increase in a state bank's capital requirement, the state bank shall have at least thirty (30) days from the date of the order to comply with the order, or such longer period as the commissioner may allow.
(3) In the event a state bank disagrees with the commissioner's judgment in ordering an increase in its minimum capital requirement, it may appeal the commissioner's decision to the State Banking Board. An appeal may be had by following the procedures specified by the board.

(c) Shares of a newly chartered state bank may be issued only for cash in an amount sufficient to meet the capitalization requirements set by the commissioner which shall be at least the aggregate par value of the shares plus the amounts, if any, necessary to assure that after issuance of the shares the bank will have the minimum capital base required by the commissioner under this section and the expense fund required by § 23-48-302.

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