The state bank and the bank holding company shall remain separate and distinct entities in all respects, with neither entity having any liability to the creditors or depositors, if any, or the stockholders of the other, or for any acts or omissions of the officers, directors, stockholders, or representatives of the other, other than obligations which may be expressly provided for in the plan of exchange.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 48 - Organization and Operation
Subchapter 6 - Reorganization Through Plan of Exchange
§ 23-48-601. Authority to adopt plan of exchange — Approval by Bank Commissioner required
§ 23-48-602. Procedure for adopting and filing plan of exchange
§ 23-48-603. Dissenting from plan of exchange