Arkansas Code
Chapter 51 - Arkansas Trust Institutions Act
§ 23-51-112. Commissioner hearings — Appeals

(a) This section does not grant a right to a hearing to a person that is not otherwise granted by governing law. A hearing before the Bank Commissioner that is required or authorized by law may be conducted by a hearing officer on behalf of the commissioner. A matter made confidential by law must be considered by the commissioner in a closed hearing.
(b) The commissioner may convene a hearing to receive evidence and argument regarding any matter before the commissioner for decision or review under this chapter.
(c) No person shall appear in opposition to the application unless the person shall have filed a written protest pursuant to § 23-51-108 and paid the applicable fee.
(d) At the hearing all organizers of the proposed state trust company and any person making a timely written protest against the application may appear. The attorneys for any such person may appear and be heard.
(e) The commissioner may subpoena witnesses on his or her own motion or on the request of any party to the proceedings.
(f) The admission of evidence at the hearing shall be controlled by § 25-15-213. The parties shall have the right to cross-examine witnesses. Official notice may be taken of judicially cognizable facts and of generally recognized technical or scientific facts within the commissioner's specialized knowledge. The parties may bind themselves by stipulation.
(g) The organizers shall be responsible for procuring and paying for a verbatim record of the proceeding. It will be the duty of the organizers to furnish at least one (1) copy of the transcript to the commissioner free of charge.
(h) The commissioner shall render his or her decision in writing, at or after a hearing, which decision shall include the commissioner's findings of fact and conclusions of law.
(i)
(1) The time for filing a petition for judicial review under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., shall run from the date the final decision of the commissioner is mailed or delivered, in written form, to the parties desiring to appeal.
(2) The hearing of such a petition for review will be advanced on the docket of each reviewing court as a matter of public interest.

Structure Arkansas Code

Arkansas Code

Title 23 - Public Utilities and Regulated Industries

Subtitle 2 - Financial Institutions And Securities

Chapter 51 - Arkansas Trust Institutions Act

§ 23-51-101. Title

§ 23-51-102. Certain definitions

§ 23-51-103. Rules

§ 23-51-104. Organization and powers of state trust company

§ 23-51-105. Articles of association of state trust company

§ 23-51-106. Application for state trust company charter

§ 23-51-107. Notice and investigation of charter application

§ 23-51-108. Hearing and decision on charter application

§ 23-51-109. Issuance of charter

§ 23-51-110. Required capital

§ 23-51-111. Application of laws relating to general business corporations

§ 23-51-112. Commissioner hearings — Appeals

§ 23-51-113. Trust companies chartered under prior law

§ 23-51-114. Amendment of state trust company articles of association

§ 23-51-115. Establishing a series of shares

§ 23-51-116. Change in outstanding capital and surplus

§ 23-51-117. Capital notes or debentures

§ 23-51-118. Private trust company

§ 23-51-119. Requirements for a private trust company

§ 23-51-120. Conversion to public trust company

§ 23-51-121. Investment in state trust company facilities — Definition

§ 23-51-122. Other real estate

§ 23-51-123. Securities

§ 23-51-124. Transactions in state trust company shares

§ 23-51-125. Subsidiaries

§ 23-51-126. Mutual funds

§ 23-51-127. Engaging in commerce prohibited

§ 23-51-128. Lending limits

§ 23-51-129. Lease financing transactions

§ 23-51-130. Trust deposit

§ 23-51-131. Common investment funds

§ 23-51-132. Borrowing limit

§ 23-51-133. Pledge of assets

§ 23-51-134. Acquisition of control

§ 23-51-135. Application regarding acquisition of control

§ 23-51-136. Hearing and decision on acquisition of control

§ 23-51-137. Appeal from adverse decision

§ 23-51-138. Objection to other transfer

§ 23-51-139. Civil enforcement — Criminal penalties

§ 23-51-140. Voting securities held by state trust company

§ 23-51-141. Bylaws

§ 23-51-142. Board of directors

§ 23-51-143. Officers

§ 23-51-144. Certain criminal offenses

§ 23-51-145. Transactions with management and affiliates

§ 23-51-146. Fiduciary responsibility

§ 23-51-147. Recordkeeping

§ 23-51-148. Bonding requirements

§ 23-51-149. Reports of apparent crime

§ 23-51-150. Merger authority

§ 23-51-151. Merger application

§ 23-51-152. Approval of commissioner

§ 23-51-153. Rights of dissenters to mergers

§ 23-51-154. Authority to purchase assets of another trust institution

§ 23-51-155. Sale of assets

§ 23-51-156. Required vote of shareholders

§ 23-51-157. Corporate procedure

§ 23-51-158. Authority to liquidate — Publication

§ 23-51-159. Examination and reports

§ 23-51-160. Unclaimed property

§ 23-51-161. Sale or transfer of property

§ 23-51-162. When commissioner may take charge

§ 23-51-163. Directors may act

§ 23-51-164. Application of Arkansas Banking Code of 1997

§ 23-51-165. Companies authorized to act as fiduciaries

§ 23-51-166. Activities not requiring a charter, etc

§ 23-51-167. Trust business of state trust institution

§ 23-51-168. Trust business of out-of-state trust institution

§ 23-51-169. Name of trust institution

§ 23-51-170. Trust business

§ 23-51-171. Branches and offices of state trust institutions

§ 23-51-172. State trust company principal office

§ 23-51-173. Trust office

§ 23-51-174. Out-of-state offices

§ 23-51-175. Trust business at a branch or trust office

§ 23-51-176. Establishing an interstate trust office

§ 23-51-177. Acquiring an interstate trust office

§ 23-51-178. Requirement of notice

§ 23-51-179. Conditions for approval

§ 23-51-180. Additional trust offices

§ 23-51-181. Examinations — Periodic reports — Cooperative agreements — Assessment of fees

§ 23-51-182. Enforcement

§ 23-51-183. Notice of subsequent merger, closing, etc

§ 23-51-184. Commissioner shall supervise and examine authorized trust institutions

§ 23-51-185. Examinations — Assessments

§ 23-51-186. Statements of condition and income

§ 23-51-187. Confidential records

§ 23-51-188. Administrative orders — Penalties for violation

§ 23-51-189. Notice and opportunity for hearing

§ 23-51-190. Subpoena power and examination under oath

§ 23-51-191. Removal of directors, officers, and employees

§ 23-51-192. Delegation and fiduciary responsibility

§ 23-51-193. Affiliates

§ 23-51-194. Fee determination

§ 23-51-195. Disclosure of potential conflicts of interest

§ 23-51-196. Interests in trust institutions prohibited

§ 23-51-197. Designation of trustee

§ 23-51-198. Choice of law governing trusts

§ 23-51-199. Choice of law governing fiduciary investments