Arkansas Code
Chapter 51 - Arkansas Trust Institutions Act
§ 23-51-165. Companies authorized to act as fiduciaries

(a) A company shall not act as a fiduciary in this state except:
(1) A state trust company;
(2) A state bank;
(3) An association organized under the laws of this state and authorized to act as a fiduciary under § 23-37-101 et seq.;
(4) A national bank having its principal office in this state and authorized by the United States Comptroller of the Currency to act as a fiduciary under 12 U.S.C. § 92a;
(5) A federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;
(6) A subsidiary trust company authorized to act as a fiduciary under § 23-47-801 et seq.;
(7) An out-of-state bank with a branch in this state established or maintained under the Arkansas Interstate Banking and Branching Act, § 23-48-901 et seq., or a trust office licensed by the Bank Commissioner under this chapter;
(8) An out-of-state trust company with a trust office licensed by the commissioner under this chapter; or
(9) A foundation.

(b) A company shall not engage in an unauthorized trust activity.

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