After March 22, 1937, it shall not be lawful to organize or create and there shall not be organized or created any cooperative bank as defined in § 4-30-201, and the Secretary of State shall issue no certificates of incorporation or charters for cooperative banks.
Future incorporation of cooperative banks prohibited
Ark. Code Ann. § 4-30-204 — under Cooperative Associations.
Ark. Code Ann. § 4-30-204