Title 23, Public Utilities and Regulated Industries

(1) The fees for a certificate of franchise authority to be collected by the Secretary of State include:(1) An application filing fee of one thousand five hundred dollars ($1,500) that includes the cost of issuance of a certificate of franchise authority by the Secretary of State…

(a) A video service provider has the rights, powers, and duties provided for telephone and telegraph companies under §§ 23-17-101 — 23-17-105. (b) To enable the provision of video service, a political subdivision shall allow the holder of a certificate of franchise authority to i…

(a) As used in this section:(1) “City subscriber” means a subscriber whose service address is in the jurisdictional limits of a city;(2) “County subscriber” means a subscriber whose service address is outside the jurisdictional limits of a city;(3) (A) “Gross revenue” shall be ca…

(a) A video service provider shall not deny access to video service to any group of potential residential subscribers based on the income of the residents in the local area in which such a group resides. (b) A franchising authority or political subdivision shall not impose on a v…

(a) A video service provider shall comply with the customer service requirements under 47 C.F.R. § 76.309(c), as it existed on January 1, 2013. (b) (1) A video service provider shall maintain a local or toll-free number for customer service contact.(2) (A) A video service provide…

(a) As used in this section, “public, education, and government access channels”, also known as “PEG channels”, means channels used for noncommercial local interest programming. (b) (1) A video service provider, on the date that it first provides video service to a subscriber in …

(a) The General Assembly intends that this subchapter be consistent with the Cable Communications Policy Act of 1984, 47 U.S.C. § 521 et seq., as it existed on January 1, 2013. (b) Except as otherwise stated in this subchapter, this subchapter shall not be interpreted to prevent …

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…

(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…

(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…

(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…

(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…

(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…

(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…

(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…

(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…

This subchapter may be known as the “Surety Bond Exemption Act”.

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-…

The law defining savings and loan associations' formation, structure, and operation shall apply to this subchapter except as provided in this subchapter.

(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…

(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”…

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…

No provision in this subchapter shall apply to any corporation except those corporations included in § 23-32-401.

(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…

(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…

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…

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.

(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…

(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…

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: AGENCY (POWER OF ATTORNEY) DESIGNATION Agents may make account transactions for part…

(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…

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.

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.

(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…

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…

This subchapter is supplemental to all laws pertaining to the deposit of funds in financial institutions.

This subchapter shall be known and may be cited as the “Arkansas Second Amendment Financial Privacy Act”.

(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…

(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…

(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 …

A credit union or central credit union is a cooperative nonprofit association, incorporated in accordance with the provisions of this chapter for the twofold purpose of encouraging thrift among its members and creating a source of credit at fair and reasonable rates of interest. …

(a) A central credit union may be organized and operated as provided in this chapter. (b) A central credit union shall be designated by use of the term “central” in its official name. A credit union not conforming to the requirements for a central credit union shall not use the t…

A credit union shall be deemed an institution for savings and, together with all accumulations therein, shall not be subject to taxation except as to real estate owned. The shares of a credit union shall not be subject to a stock transfer tax when issued by the corporation or whe…

(a) Each credit union organized under this chapter shall obtain insurance of member share and deposit accounts under the provisions of Title II of the Federal Credit Union Act. (b) A credit union which has been denied a commitment for insurance of its share and deposit accounts s…

(a) There is created under the State Securities Department a Credit Union Division which shall be administered by the State Credit Union Supervisor. The Securities Commissioner, in consultation with the Secretary of the Department of Commerce and the Bank Commissioner, shall act …

(a) All state-chartered credit unions shall be supervised and regulated by the State Credit Union Supervisor acting pursuant to the authority delegated by this chapter. The supervisor shall be responsible for the enforcement of this chapter and the credit union bylaws, and he or …