Title 23 — Public Utilities and Regulated Industries
95 chapters · 4,024 sections in this title.
Ark. Code Ann. § 23-32-201 Investment in obligations issued pursuant to Farm Credit Act of 1971
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It shall be lawful for all savings and loan associations and insurance companies doing business in the State of Arkansas and for all trustees, guardians of the estates of minors and insane persons, executors, or administrators to invest their funds in notes, bonds, debentures, or…
Ark. Code Ann. § 23-32-202 [Repealed.]
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A.C.A. § 23-32-202Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 23-32-203 Loans secured by liens on agricultural lands
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(a) Any person obtaining a loan secured by a lien on real estate in this state which is used primarily for agricultural or livestock purposes shall have the privilege of prepaying the loan in multiples of one hundred dollars ($100) during any one (1) year following the first anni…
Ark. Code Ann. § 23-32-204 Sale of certain mortgage loans
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(1) Notwithstanding any other provision of law, any savings and loan association or insurance company organized under the laws of this state which has as one (1) of its principal purposes the making or purchasing of loans secured by real estate mortgages is authorized to:(1) Sell…
Ark. Code Ann. § 23-32-205 Loans under Servicemen's Readjustment Act
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(a) In applying to loans made under the Servicemen's Readjustment Act of 1944, any restrictions of any character imposed by the laws of the State of Arkansas upon loans which state-chartered lending institutions may make, purchase, or otherwise acquire, no consideration whatsoeve…
Ark. Code Ann. § 23-32-206 Casualty insurance — Replacement cost coverage
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(a) A savings and loan association, financial institution, national bank, mortgage company, or any public or private mortgagee doing business in this state, when making a mortgage loan, may not require as a condition or term of the mortgage that the mortgagor purchase casualty in…
Ark. Code Ann. § 23-32-207 Deposits and withdrawals — Accounts and certificates of deposit in two or more names
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(1) Checking accounts and savings accounts may be opened and certificates of deposit may be issued by any federally or state-chartered savings and loan association, in the names of two (2) or more persons, either minor or adult, or a combination of minor and adult. Checking accou…
Ark. Code Ann. § 23-32-208 Sharing of customer-bank communication terminals
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(a) (1) An agreement to share a customer-bank communication terminal, as defined by § 23-32-1301(2) [repealed], shall not prohibit, limit, or restrict the right of a financial institution from charging a customer-bank communication terminal usage fee.(2) The usage fee shall not e…
Ark. Code Ann. § 23-32-209 Misleading actions or use of words by unauthorized persons
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(a) (1) All persons except those described in subdivision (a)(2) of this section are prohibited from using in this state as a portion of or in connection with their place of business their name or title or in reference to themselves in their stationery or advertising the followin…
Ark. Code Ann. § 23-32-210 Request for stop payment on electronic funds transfer
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(a) Any financial institution doing business in this state shall stop payment of any electronic funds transfer from a customer's account upon receipt, at least three (3) business days prior to the scheduled transfer, of a written stop-payment order from the customer or any person…
Ark. Code Ann. § 23-32-301 Title
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This subchapter may be known as the “Surety Bond Exemption Act”.
Ark. Code Ann. § 23-32-302 Purpose
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The purpose of this subchapter is to exempt state and federal savings and loan associations from being required to furnish security in the form of cash, bond, or otherwise, ensuring proper performance of their duties and obligations in the business transactions set forth in § 23-…
Ark. Code Ann. § 23-32-303 Applicability of other laws
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The law defining savings and loan associations' formation, structure, and operation shall apply to this subchapter except as provided in this subchapter.
Ark. Code Ann. § 23-32-304 Construction
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(1) Nothing in this subchapter shall be construed to:(1) Prevent a state or federal savings and loan association from electing or agreeing to furnish bond at its own cost;(2) Prevent any other party of interest, desiring protection in a business transaction with a state or federa…
Ark. Code Ann. § 23-32-305 Exemption from posting bond in certain transactions
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(a) Except when the dollar amount of responsibility assumed exceeds its net capital and surplus, no state or federal savings and loan association, chartered or licensed to do business in this state, shall be required to furnish fidelity, surety, or performance bond, called “bond”…
Ark. Code Ann. § 23-32-401 Definition
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As used in this subchapter, unless the context otherwise requires, “investor companies” means all banks, mutual savings associations, mutual savings banks, mutual savings fund societies, trust funds, foundations, pension trusts, or lending agencies, all the capital stock of which…
Ark. Code Ann. § 23-32-402 Application
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No provision in this subchapter shall apply to any corporation except those corporations included in § 23-32-401.
Ark. Code Ann. § 23-32-403 Transactions not considered engaging in business
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(1) Without excluding other activities which may not constitute transaction of, or engaging in, business in this state, investor companies which are engaged in investing in loans secured by real estate and which are not chartered or domesticated in this state and do not engage in…
Ark. Code Ann. § 23-32-404 Consent to service of process on Secretary of State
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(a) All investor companies, except national banking institutions and state-chartered banks subject to federal regulation, acting either in their own behalf or acting as trustee for trust funds, foundations, pension funds, or related investors, must, before purchasing mortgage not…
Ark. Code Ann. § 23-32-405 Authority to sue and be sued
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The investor companies may sue or be sued in this state in relation to the mortgage notes, mortgages, or deeds of trust, and service may be had on the Secretary of State when an investor company is a defendant. The venue of the actions shall be in the county of the residence of a…
Ark. Code Ann. § 23-32-406 Transaction of general business not authorized
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Nothing in this subchapter shall be construed as authorizing investor companies to transact the general business of a chartered bank or trust company, or any business in this state, except as herein provided.
Ark. Code Ann. § 23-32-501 Definitions
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(1) In this subchapter:(1) “Account” means a contract of deposit between a depositor and a financial institution, and includes a checking account, savings account, certificate of deposit, and share account;(2) “Agent” means a person authorized to make account transactions for a p…
Ark. Code Ann. § 23-32-502 Scope of subchapter
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(a) This subchapter applies to accounts in this state. (b) This subchapter does not apply to:(1) An account established for a partnership, joint venture, or other organization for a business purpose;(2) An account controlled by one (1) or more persons as an agent or trustee for a…
Ark. Code Ann. § 23-32-503 Forms
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A contract of deposit that substantially contains the following form establishes an agency account, and the account is governed by the provisions of this subchapter applicable to agency accounts:Click here to view form.
Ark. Code Ann. § 23-32-504 Designation of agent
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(a) Unless the terms of an agency designation provide that the authority of the agent terminates on disability or incapacity of a party, the agent's authority survives disability and incapacity. The agent may act for a disabled or incapacitated party until the authority of the ag…
Ark. Code Ann. § 23-32-505 Payment to designated agent
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On request of an agent under an agency designation for an account, a financial institution may, unless it actually knows that the authority of agency has terminated, pay to the agent sums on deposit in the account.
Ark. Code Ann. § 23-32-506 Payment to minor
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If a financial institution is required or permitted to make payment pursuant to this subchapter to a minor designated as a beneficiary, payment may be made pursuant to the Uniform Transfers to Minors Act, § 9-26-201 et seq.
Ark. Code Ann. § 23-32-507 Discharge
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(a) (1) Payment made pursuant to this subchapter in accordance with an agency of account discharges the financial institution from all claims for amounts so paid, whether or not the payment is consistent with the beneficial ownership of the account as between parties, beneficiari…
Ark. Code Ann. § 23-32-508 Setoff
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Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party is indebted to a financial institution, the financial institution has a right to setoff against the agency account. The amount of the agency account subject to seto…
Ark. Code Ann. § 23-32-509 Effect on other laws
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This subchapter is supplemental to all laws pertaining to the deposit of funds in financial institutions.
Ark. Code Ann. § 23-32-601 Title
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This subchapter shall be known and may be cited as the “Arkansas Second Amendment Financial Privacy Act”.
Ark. Code Ann. § 23-32-602 Definitions
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(1) As used in this subchapter:(1) (A) “Acquirer bank” means a member of a payment card network that contracts with a merchant for the settlement of an electronic payment transaction.(B) “Acquirer bank” includes a bank that contracts directly with a merchant or indirectly through…
Ark. Code Ann. § 23-32-603 Prohibited conduct
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(a) (1) A payment card network shall not require the use of a merchant category code that distinguishes a firearms retailer from other retailers.(2) Subdivision (a)(1) of this section does not apply to an electronic payment transaction at a retailer outside of this state. (1) A p…
Ark. Code Ann. § 23-32-604 Enforcement
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(a) The Attorney General may enforce and investigate alleged violations of this subchapter and, upon finding a violation, shall provide written notice to a person believed to be in violation of this subchapter. (b) The Attorney General may be petitioned to investigate an alleged …