Arkansas Code
Chapter 50 - Miscellaneous Violations of Banking Laws
§ 23-50-103. Misleading actions or use of words by unauthorized persons

(a)
(1) All persons except those described in subdivision (a)(2) of this section are prohibited from using in this state as a portion of or in connection with their place of business their name or title or in reference to themselves in their stationery or advertising the following words or phrases, alone or in combination with any other word or phrase: “bank”, “banker”, “bankers”, “banking”, “federal reserve”, “trust company”, “trust”, “savings and loan”, “credit union”, or “building and loan” or any other word or phrase that tends to induce the belief that the party using it is authorized to engage in the business of a bank, trust company, savings and loan association, or credit union.
(2) The prohibitions contained in subdivision (a)(1) of this section shall not apply to those persons that discharge the burden of proving their authority to use the words or phrases described in subdivision (a)(1) of this section under the laws of this or another state or of the United States.

(b) All persons except those described in subdivision (a)(2) of this section are prohibited from doing or soliciting business in this state substantially in the manner or so as to induce the belief that the business in whole or in part is that of a bank, savings bank, trust company, credit union, or savings and loan association, either by the sale of contract, or of shares of its capital stock upon partial or installment payments thereof, or by the receipt of money, savings, dues, or other deposits, or by the issuance of certificates of deposit or certificates of investment of money, savings, or dues.
(c) Nothing in this section shall be construed as preventing the use of the word “bankers” in combination with other words in connection with the place of business, name, and title of any finance or investment company operated in connection with, as a subsidiary to, or having joint offices with a bank or trust company in this state, if the bank or trust company is subject to the supervision of the Bank Commissioner and if the bank or trust company has the word “bankers” alone or in combination with other words in its name or title.
(d) Each violation of subsection (a) of this section shall constitute a Class A misdemeanor.
(e) It is declared to be public policy that this law be liberally construed in favor of its enforcement.
(f) Nothing in this section shall be construed to authorize any person to engage in any activity not otherwise authorized under Arkansas law.

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