Settlement of checks at par — Exception

Ark. Code Ann. § 23-47-206 — under Bank Powers — Subsidiaries.

Ark. Code Ann. § 23-47-206

(a) No state bank shall settle any check drawn on it against an account with a sufficient balance otherwise than at par.

(b) However, the provisions of this section shall not apply with respect to the settlement of a check sent to a state bank for special handling or as a special collection item.