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Ark. Code Ann. § 23-49-101 Definitions
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(1) As used in this chapter:(1) “Circuit court” means the court with which the State Bank Department has filed the notice of possession under this chapter. The circuit court will make a determination for sale of assets only and not a determination of whether or not to take charge…
Ark. Code Ann. § 23-49-102 Department taking possession — Procedure
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(a) In addition to the powers conferred upon the Bank Commissioner and the State Bank Department, the commissioner may take possession of the business and property of any institution which the commissioner supervises whenever it appears to the commissioner that the institution:(1…
Ark. Code Ann. § 23-49-103 Injunction against commissioner
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(a) Whenever any institution of whose business, property, and records the Bank Commissioner has taken possession deems itself aggrieved thereby, it may, at any time within ten (10) days after taking possession, apply to the circuit court to enjoin further proceedings. (b) After n…
Ark. Code Ann. § 23-49-104 When possession terminates
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When the Bank Commissioner has taken possession of the business and property of an institution under the provisions of § 23-49-102, the commissioner shall hold possession of the business and property until the affairs of the institution have been finally liquidated as provided in…