Title 23 — Public Utilities and Regulated Industries

The Bank Commissioner is authorized to and shall administer and carry out the provisions of this subchapter and shall issue such rules and orders as may be necessary to discharge this duty and to prevent evasions of this subchapter.

It shall be unlawful for a bank holding company to directly or indirectly own or control more than one (1) bank subsidiary if any such bank subsidiary with its main office in Arkansas has a de novo charter.

(a) A bank holding company is prohibited from acquiring ownership or control of the stock or the assets of any bank that has its main office or any branch office in Arkansas, if, after giving effect to the acquisition of the stock or the assets of that bank, the acquiring bank ho…

(1) As used in this subchapter:(1) “Converting bank” means a state bank converting to a national bank, a national bank converting to a state bank, or a savings and loan association converting to a state bank;(2) “Dissenters' rights” means the rights of dissenting stockholders spe…

(a) Subject to the provisions of this subchapter and provided that no Arkansas bank which is a party to the merger has a de novo charter, a state bank may merge into a national bank, including a national bank with a home state other than Arkansas. (b) The action to be taken by a …

(a) (1) (A) With the approval of the Bank Commissioner and the State Banking Board and after a public hearing as prescribed by the applicable law of this state, any bank, bank holding company, or savings and loan association, including an out-of-state bank, bank holding company, …

(a) A national bank or savings and loan association having its main office in this state which follows the procedure prescribed by applicable federal or other law may convert into a state bank and may be granted a charter by the State Banking Board with the concurrence of the Ban…

(a) Subject to the provisions of this subchapter and provided that no Arkansas bank which is a party to the merger has a de novo charter, a state bank may merge into an out-of-state bank. (b) The action to be taken by a merging state bank and its rights and liabilities and those …

(a) For purposes of this section, with respect to a state bank:(1) “Corporate action” means:(A) Consummation of a merger to which the state bank is a party;(B) Consummation of a sale or transfer of over fifty percent (50%) of the state bank's assets to another depository institut…

(a) A resulting bank shall be the same business and corporate entity as each party to the merger or as the converting bank, with all the property, rights, powers, liabilities, and duties of each party to the merger or the converting bank, except as affected by the state law in th…

If a party to a merger or converting bank has assets which do not conform to the requirements of state law for the resulting state bank or if it carries on business activities which are not permitted for the resulting state bank, the Bank Commissioner may permit a reasonable time…

(a) With the approval of the Bank Commissioner, any wholly owned Arkansas bank holding company that owns all of the outstanding shares of each class of the capital stock of a subsidiary state bank may be merged into the bank to result in a state bank without the approval of the s…

(a) (1) With the approval of the State Banking Board and the concurrence of the Bank Commissioner and subject to the provisions of this subchapter and provided that no party to a proposed transaction has a de novo charter, a state bank may purchase all or a majority of the assets…

(a) Upon application of either individual incorporators or a bank holding company, the Bank Commissioner is authorized to grant a state bank charter to the applicant immediately and without the approval of the State Banking Board if the commissioner finds that the immediate forma…

When a resulting state bank is not to exercise trust powers, the Bank Commissioner shall not approve a merger or conversion until satisfied that adequate provision has been made for successors to fiduciary positions held by the merging banks or the converting bank.

(a) (1) A state bank may adopt a plan of exchange for shares of the outstanding capital stock held by its stockholders, for the consideration designated in this section to be paid or provided by a bank holding company which acquires the stock, in the manner provided in this subch…

(a) The directors, consisting of at least a majority, of a state bank and bank holding company who desire to adopt a plan of exchange pursuant to this subchapter shall adopt a plan of exchange, signed by them under their respective corporate seals, which shall prescribe and set f…

(a) (1) The owner of shares of a state bank which were voted against a plan of exchange, and who has given notice in writing to the state bank at or prior to the meeting of the stockholders approving the plan that he or she dissents from the plan of exchange, shall be entitled to…

(a) (1) When the plan of exchange of shares as filed with the Bank Commissioner and approved by the commissioner under § 23-48-603 becomes effective in accordance with the terms of the plan, the exchange provided for therein shall be deemed to have been consummated, and each shar…

The state bank and the bank holding company shall remain separate and distinct entities in all respects, with neither entity having any liability to the creditors or depositors, if any, or the stockholders of the other, or for any acts or omissions of the officers, directors, sto…

(1) As used in this subchapter:(1) (A) “Full service branch” means a banking facility separate from the main office of the bank at which all lawful banking activities may be conducted as fully as in the main office.(B) “Full service branch” includes a mobile facility that:(i) Con…

(a) (1) No bank shall engage in core banking activities, receiving deposits, paying checks, or lending money at any location other than at a main banking office or full-service branch, except as otherwise permitted by law.(2) Unless otherwise restricted by applicable law, banks m…

(a) The Bank Commissioner shall have the authority to approve the application of a state bank to establish a full-service branch if the commissioner determines that the establishment of the full-service branch is consistent with:(1) Maintaining a sound banking system;(2) Encourag…

Any bank may, at its option, operate any branch office, teller's window, or other banking facility which is separate from the main office of the bank and in operation on June 30, 1988, as a full-service branch or a customer-bank communications terminal.

When a full-service branch has once been established under any provision of this subchapter or any prior act, the operation thereof shall not be discontinued or the facility closed unless ninety (90) days' prior notice of intention to terminate the operation is given in writing t…

(1) As used in this subchapter, unless the context otherwise requires:(1) (A) “Customer-bank communication terminal”, or “CBCT”, means any electronic device or facility, other than a point-of-sale terminal, together with all associated equipment, structures, and systems, through …

A bank, individually or jointly with one (1) or more other banks in the state, may establish, maintain, and use one (1) or more customer-bank communication terminals anywhere in this state and in any location in any one (1) or more other states if permitted by the applicable law …

(a) As to any and each customer-bank communication terminal which a state bank proposes to establish, the state bank shall notify the Bank Commissioner of the establishment and location of the terminal. (b) No notice need be given for any device or machine which:(1) Is used solel…

(a) Any out-of-state bank may establish, maintain, and operate a customer-bank communication terminal anywhere in this state. (b) (1) Out-of-state state-chartered banks other than registered out-of-state banks shall file the notice set forth in § 23-48-803 with the Bank Commissio…

A point-of-sale terminal, as defined in this subchapter, shall not be subject to the regulation or supervision of the Bank Commissioner.

(a) In order to permit the transaction of any banking function authorized under this subchapter between a bank and its customers, any bank, pursuant to the provisions of this subchapter, may be interconnected with:(1) One (1) or more customer-bank communication terminals, includi…

(a) (1) Except for customer-bank communication terminals located on the premises of the main office or a branch of a bank, a customer-bank communication terminal shall be unattended or attended by persons not employed by the bank utilizing the customer-bank communication terminal…

A bank using customer-bank communication terminals shall establish and maintain reasonable safeguards designed to protect the privacy and confidentiality of account information.

At such time as national banks having their main offices in this state are permitted to establish and use customer-bank communication terminals in places or for transactions not permitted under this subchapter, all state banks shall have the powers permitted national banks with r…

(a) (1) An agreement to share a customer-bank communication terminal shall not prohibit, limit, or restrict the right of a bank from charging a customer-bank communication terminal usage fee.(2) The usage fee may be imposed only if imposition of the usage fee is disclosed at a ti…

A.C.A. § 23-48-901Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

(a) With the prior approval of the State Banking Board and the Bank Commissioner, a state bank may establish, maintain, and operate one (1) or more branches in one (1) or more states other than Arkansas pursuant to an interstate merger transaction in which the state bank is the r…

One (1) or more Arkansas banks, provided no such Arkansas bank has a de novo charter, may enter into an interstate merger transaction with one (1) or more out-of-state banks under this subchapter in which the out-of-state bank is the resulting bank, and the out-of-state bank may …

A.C.A. § 23-48-904Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved

(a) Any out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a state bank shall notify the Bank Commissioner of the proposed merger not later than the date on which it files an application for an interstate merger transaction wi…

(a) An out-of-state state-chartered bank which establishes and maintains one (1) or more branches in Arkansas under this subchapter may conduct any activities at such branch or branches which are authorized under the laws of Arkansas for state banks. (b) A state bank may conduct …

(a) To the extent consistent with subsection (c) of this section, the Bank Commissioner may make such examinations of any branch established and maintained in Arkansas pursuant to this subchapter by an out-of-state state-chartered bank as the commissioner may deem necessary to de…

If the Bank Commissioner determines that a branch maintained by an out-of-state state-chartered bank in Arkansas is being operated in violation of any provision of the laws of Arkansas, or that the branch is being operated in an unsafe or unsound manner, the commissioner shall ha…

The Bank Commissioner, with the approval of the State Banking Board, may promulgate rules that he or she determines to be necessary or appropriate in order to implement the provisions of this subchapter.

Each registered out-of-state bank that has established and maintains a branch in this state pursuant to this subchapter shall give at least thirty (30) days' prior written notice or, in the case of an emergency transaction, shorter notice that is consistent with applicable state …

If any provision of this subchapter or the application of any such provision is found by any court of competent jurisdiction in the United States to be invalid as to any bank, bank holding company, foreign bank, or other person or circumstances, or to be superseded by federal law…