When the Bank Commissioner has taken possession of the business and property of an institution under the provisions of § 23-49-102, the commissioner shall hold possession of the business and property until the affairs of the institution have been finally liquidated as provided in this chapter, unless the institution has undertaken the voluntary liquidation of its affairs under this chapter or the Federal Deposit Insurance Corporation has been appointed receiver.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 49 - Dissolution and Liquidation
§ 23-49-102. Department taking possession — Procedure
§ 23-49-103. Injunction against commissioner
§ 23-49-104. When possession terminates
§ 23-49-105. Notice of possession
§ 23-49-106. Appointment of receiver — Restrictions on proceedings, liens, or credits
§ 23-49-107. Powers of receiver
§ 23-49-108. Sale of assets — Assumption of deposit liabilities by new institution
§ 23-49-110. Claims filed after 180-day claim period
§ 23-49-111. Payment of claims
§ 23-49-112. Rejection of contracts and leases
§ 23-49-113. Subrogation of federal deposit insurance agency to rights of depositors
§ 23-49-114. Appointment of successor to fiduciary and representative proceedings
§ 23-49-115. Notice concerning safekeeping and safe-deposit boxes
§ 23-49-117. Contents of articles of dissolution
§ 23-49-118. Execution and filing of articles with department — Certificate of dissolution
§ 23-49-119. Voluntary liquidation
§ 23-49-120. Voluntarily placing an institution in possession of commissioner