Ask a question on the site
Questions
Lawyers
Blogs
Legislation
Contacts
Become a lawyer
Login Registration
Subchapter 1 - General Provisions
§ 23-48-101. Banks subject to gross receipts and compensating use taxes - All banks shall be subject to the Arkansas Gross Receipts...
§ 23-48-102. Trust companies no longer subject to banking laws - (a) All trust companies, other than national trust companies and...
§ 23-48-103. Bank holidays - (a) (1) Any bank, subsidiary trust company, or national trust...
§ 23-48-104. Dealings with agents, fiduciaries, etc - A bank dealing, whether to its own benefit or otherwise,...
§ 23-48-105. Agents for affiliate — Definitions - (a) (1) As used in this section, “institution” means a...
§ 23-48-106. Exemption from posting bond in certain transactions - (a) Except when the dollar amount of responsibility assumed exceeds...
Subchapter 2 - Reserves and Dividends
§ 23-48-201. Membership in Federal Reserve System - Any state bank shall have the right to own such...
§ 23-48-202. Reserve requirements - A state bank not a member of the Federal Reserve...
§ 23-48-203. Payment of dividends - Any state bank may, from time to time, declare and...
Subchapter 3 - Organization and Management Generally
§ 23-48-301. Application for incorporation - (a) Any one (1) or more natural persons, eighteen (18)...
§ 23-48-302. Organizational expenses - (a) Organizational expenses shall not be paid from capital or...
§ 23-48-303. Promoter's fees prohibited - (a) A state bank shall not pay any fee, compensation,...
§ 23-48-304. Investigation of new charter applications by Bank Commissioner - (a) As soon as practicable after acceptance of any application...
§ 23-48-305. Issuance and filing of certificate of incorporation - (a) Upon approval of the State Banking Board and payment...
§ 23-48-306. Relocation of place of business — Amendment of articles - (a) (1) Any state bank may apply for authority to...
§ 23-48-307. Objects and method of charter amendment - (a) Any state bank, through amendment to its articles of...
§ 23-48-308. Filing of amendments to articles of incorporation - (a) (1) An application for approval of a proposed charter...
§ 23-48-309. Names of state banks and subsidiary trust companies - (a) (1) Prior to the formation of a state bank,...
§ 23-48-310. Minimum capital requirements generally - (a) For all state banks chartered after May 30, 1997,...
§ 23-48-311. Increase or decrease of capital stock - (a) The authorized capital stock of any state bank may...
§ 23-48-312. Liability of shareholders — Assessment of stock - (a) (1) Except as otherwise provided in this section, a...
§ 23-48-313. Classes of stock — Fractional shares — Scrip - (a) (1) (A) The shares of the capital stock of...
§ 23-48-314. Preemptive rights of stockholders - (a) Unless otherwise provided by the articles of incorporation, every...
§ 23-48-315. Issuance and sale of capital notes and other subordinated indebtedness - (a) (1) With the written consent of the Bank Commissioner,...
§ 23-48-316. Transfer of stock - (a) The stock of every state bank shall be transferrable...
§ 23-48-317. Change in control - (a) As used in this section, unless the context otherwise...
§ 23-48-318. Stockholder meetings — Notice of special meeting - (a) A special meeting of the stockholders, whether held for...
§ 23-48-319. Stockholder meetings — Notice of annual meeting - (a) Not less than ten (10) days' written notice of...
§ 23-48-320. Stockholder meetings — Quorum — Voting - (a) (1) Each share of stock shall be entitled to...
§ 23-48-321. Closing transfer books — Fixing record date - (a) For the purpose of determining stockholders entitled to notice...
§ 23-48-322. Board of directors — Standard of conduct - (a) (1) (A) The affairs of any state bank shall...
§ 23-48-323. Officers — Selection — Terms — Bonds - (a) (1) A state bank shall have: (A) A president...
§ 23-48-324. Officers — Taking acknowledgments - (a) An official of a bank who holds a commission...
§ 23-48-325. Banker's banks - (a) Any state bank may purchase, for its own account,...
§ 23-48-326. Application of Arkansas Business Corporation Act - All state banks and subsidiary trust companies shall be subject...
§ 23-48-327. Registered office and registered agent for service of process - (a) (1) A state bank may designate and maintain a...
Subchapter 4 - Bank Holding Companies
§ 23-48-401. Definitions - As used in this subchapter, unless the context otherwise requires:...
§ 23-48-402. Nonapplicability of subchapter - (a) This subchapter shall not apply to shares of any...
§ 23-48-403. Penalties - (a) Any person who willfully violates any provision of this...
§ 23-48-404. Administration - The Bank Commissioner is authorized to and shall administer and...
§ 23-48-405. Ownership or control of subsidiaries - It shall be unlawful for a bank holding company to...
§ 23-48-406. Acquisition of bank stock or assets — Limitations - (a) A bank holding company is prohibited from acquiring ownership...
Subchapter 5 - Mergers, Consolidations, Conversions, Emergency Acquisitions, Purchases, or Assumptions
§ 23-48-501. Definitions - As used in this subchapter: (1) “Converting bank” means a...
§ 23-48-502. Merger or conversion of state bank into national bank - (a) Subject to the provisions of this subchapter and provided...
§ 23-48-503. Merger of bank, bank holding company, or savings and loan association into state bank - (a) (1) (A) With the approval of the Bank Commissioner...
§ 23-48-504. Conversion of national bank or savings and loan association into state bank - (a) A national bank or savings and loan association having...
§ 23-48-505. Merger of state bank into an out-of-state state-chartered bank - (a) Subject to the provisions of this subchapter and provided...
§ 23-48-506. Dissenting stockholders - (a) For purposes of this section, with respect to a...
§ 23-48-507. Continuation of corporate entity — Use of old name - (a) A resulting bank shall be the same business and...
§ 23-48-508. Resulting state bank — Time for conformance with state law - If a party to a merger or converting bank has...
§ 23-48-509. Merger of wholly owned Arkansas bank holding company into state bank - (a) With the approval of the Bank Commissioner, any wholly...
§ 23-48-510. Purchases or assumptions by a state bank - (a) (1) With the approval of the State Banking Board...
§ 23-48-511. Commissioner's granting of new charter or branch facility in connection with failed institutions - (a) Upon application of either individual incorporators or a bank...
§ 23-48-512. Provisions when resulting state bank not to exercise trust powers - When a resulting state bank is not to exercise trust...
Subchapter 6 - Reorganization Through Plan of Exchange
§ 23-48-601. Authority to adopt plan of exchange — Approval by Bank Commissioner required - (a) (1) A state bank may adopt a plan of...
§ 23-48-602. Procedure for adopting and filing plan of exchange - (a) The directors, consisting of at least a majority, of...
§ 23-48-603. Dissenting from plan of exchange - (a) (1) The owner of shares of a state bank...
§ 23-48-604. Effect of exchange - (a) (1) When the plan of exchange of shares as...
§ 23-48-605. State bank and holding company to remain separate — Nonliability of directors, officers, etc - The state bank and the bank holding company shall remain...
Subchapter 7 - Branch Offices
§ 23-48-701. Definitions - As used in this subchapter: (1) (A) “Full service branch”...
§ 23-48-702. Establishment of full-service branches and limited-purpose offices — Locations - (a) (1) No bank shall engage in core banking activities,...
§ 23-48-703. Establishment of full-service branch — Standards and procedure - (a) The Bank Commissioner shall have the authority to approve...
§ 23-48-704. Preexisting facilities - Any bank may, at its option, operate any branch office,...
§ 23-48-705. Notice of termination of full-service branch - When a full-service branch has once been established under any...
Subchapter 8 - Customer-Bank Communication Terminals
§ 23-48-801. Definitions - As used in this subchapter, unless the context otherwise requires:...
§ 23-48-802. Location of customer-bank communication terminals - A bank, individually or jointly with one (1) or more...
§ 23-48-803. Notice of establishment of terminal - (a) As to any and each customer-bank communication terminal which...
§ 23-48-804. Out-of-state banks - (a) Any out-of-state bank may establish, maintain, and operate a...
§ 23-48-805. Point-of-sale terminals not subject to regulation by Bank Commissioner - A point-of-sale terminal, as defined in this subchapter, shall not...
§ 23-48-806. Interconnected terminals - (a) In order to permit the transaction of any banking...
§ 23-48-807. Persons attending terminals — Verification of transactions - (a) (1) Except for customer-bank communication terminals located on the...
§ 23-48-808. Privacy of account information - A bank using customer-bank communication terminals shall establish and maintain...
§ 23-48-809. Approval for expanded powers of state banks - At such time as national banks having their main offices...
§ 23-48-810. Sharing of communication terminals — Definitions - (a) (1) An agreement to share a customer-bank communication terminal...
Subchapter 9 - Interstate Bank Mergers and Branching
§ 23-48-902. Authority of state banks to establish interstate branches by merger - (a) With the prior approval of the State Banking Board...
§ 23-48-903. Interstate merger transactions and branching permitted - One (1) or more Arkansas banks, provided no such Arkansas...
§ 23-48-905. Notice and filing requirements - (a) Any out-of-state bank that will be the resulting bank...
§ 23-48-906. Powers — Additional branches - (a) An out-of-state state-chartered bank which establishes and maintains one...
§ 23-48-907. Examinations — Periodic reports — Cooperative agreements — Fees - (a) To the extent consistent with subsection (c) of this...
§ 23-48-908. Enforcement - If the Bank Commissioner determines that a branch maintained by...
§ 23-48-909. Rules - The Bank Commissioner, with the approval of the State Banking...
§ 23-48-910. Notice of subsequent merger - Each registered out-of-state bank that has established and maintains a...
§ 23-48-911. Severability - If any provision of this subchapter or the application of...
Subchapter 10 - Registration of Out-of-State Banks
§ 23-48-1001. Application for certificate of authority - (a) An out-of-state bank that desires to operate a branch...
§ 23-48-1002. Amended certificate of authority - (a) A registered out-of-state bank shall apply for an amended...
§ 23-48-1003. Effect of certificate of authority - (a) A certificate of authority authorizes the out-of-state bank to...
§ 23-48-1004. Registered office and registered agent of out-of-state bank - Each registered out-of-state bank must continuously maintain in this state:...
§ 23-48-1005. Change of registered office or registered agent of out-of-state bank - (a) A registered out-of-state bank may change its registered office...
§ 23-48-1006. Resignation of registered agent of out-of-state bank - (a) The registered agent of an out-of-state bank may resign...
§ 23-48-1007. Service on out-of-state banks - (a) The registered agent of a registered out-of-state bank is...
§ 23-48-1008. Withdrawal of out-of-state bank - (a) A registered out-of-state bank may not withdraw from this...
§ 23-48-1009. Grounds for revocation. [Effective until May 1, 2021.] - The Bank Commissioner may commence a proceeding under § 23-48-1010...
§ 23-48-1009. Grounds for revocation. [Effective May 1, 2021.] - The Bank Commissioner may commence a proceeding under § 23-48-1010...
§ 23-48-1010. Procedure for and effect of revocation - (a) If the Bank Commissioner determines that one (1) or...
§ 23-48-1011. Appeal from revocation - (a) (1) An out-of-state bank may appeal the Bank Commissioner's...