(a) The Bank Commissioner may initiate any appropriate civil or administrative action or remedy upon discovering a violation of the Arkansas Banking Code of 1997 or any other statute or rule the enforcement of which is within the scope of his or her duty.
(b) Civil, administrative, or criminal actions initiated by the commissioner under this section which expose him or her or his or her estate to personal liability for damages, or otherwise, shall be defended by the State of Arkansas, and judgments, if any shall be obtained against him or her or his or her estate, shall be borne by the State of Arkansas.
(c) No person shall be subjected to any civil or criminal liability for any act or omission to act in good faith reliance upon an order or rule of the State Bank Department notwithstanding a subsequent decision by a court invalidating the order or rule.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 50 - Miscellaneous Violations of Banking Laws
§ 23-50-101. Prosecution of violations — Nonliability of commissioner
§ 23-50-102. Forfeiture of charter
§ 23-50-103. Misleading actions or use of words by unauthorized persons
§ 23-50-104. Circulation of false rumor injurious to bank
§ 23-50-105. Embezzlement, misuse of funds, etc., by officer, director, etc
§ 23-50-106. False statements or records — Bribery of commissioner, examiner, or department employee
§ 23-50-107. False statements or records by officer, agent, or employee
§ 23-50-108. False reports by commissioner or examiner — Acceptance of bribe
§ 23-50-109. Disclosure of information or false report by examiner