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23-36-105. Supervision by Bank Commissioner.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-36-105. Supervision by Bank Commissioner.
(a) Every institution transacting the business of an industrial loan institution as defined by this chapter, whether as a separate business or in connection with any other business, under the laws of and within this state, shall be subject to the provisions of this chapter and shall be under the supervision of the Bank Commissioner.
(b) The commissioner may make, at any time and from time to time, any examinations of the affairs of securities affiliates or other affiliates of industrial loan institutions which are necessary to disclose fully the relations between the industrial loan institutions and their affiliates and the effect of the rules promulgated by the commissioner on the affairs of the industrial loan institutions.
(c) The commissioner shall exercise control of and supervision over industrial loan institutions doing business under this chapter. It shall be his or her duty to execute and enforce, through the state bank examiners and any other agents appointed for that purpose, all laws relating to industrial loan institutions as defined by this chapter.
(d) For the more complete and thorough enforcement of the provisions of this chapter, the commissioner is empowered to promulgate any rules and instructions, not inconsistent with this chapter, which may, in his or her opinion, be necessary to carry out the provisions of the laws relating to industrial loan institutions as defined in § 23-36-101 and which may be further necessary to ensure safe and conservative management of industrial loan institutions under his or her supervision to provide adequate protection for the interest of creditors, depositors, and stockholders in their relations with the institutions.
(e) All industrial loan institutions doing bu
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-36-105
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-36-105
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ee72f055bd51f803185792d9124ba8a2a0047a778d95f6577e9822e80295b8e2
Source location: content.xml paragraph 16962
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23-36-105. Supervision by Bank Commissioner.
(a) Every institution transacting the business of an industrial loan institution as defined by this chapter, whether as a separate business or in connection with any other business, under the laws of and within this state, shall be subject to the provisions of this chapter and shall be under the supervision of the Bank Commissioner.
(b) The commissioner may make, at any time and from time to time, any examinations of the affairs of securities affiliates or other affiliates of industrial loan institutions which are necessary to disclose fully the relations between the industrial loan institutions and their affiliates and the effect of the rules promulgated by the commissioner on the affairs of the industrial loan institutions.
(c) The commissioner shall exercise control of and supervision over industrial loan institutions doing business under this chapter. It shall be his or her duty to execute and enforce, through the state bank examiners and any other agents appointed for that purpose, all laws relating to industrial loan institutions as defined by this chapter.
(d) For the more complete and thorough enforcement of the provisions of this chapter, the commissioner is empowered to promulgate any rules and instructions, not inconsistent with this chapter, which may, in his or her opinion, be necessary to carry out the provisions of the laws relating to industrial loan institutions as defined in § 23-36-101 and which may be further necessary to ensure safe and conservative management of industrial loan institutions under his or her supervision to provide adequate protection for the interest of creditors, depositors, and stockholders in their relations with the institutions.
(e) All industrial loan institutions doing business under the provisions of this chapter shall conduct their business in a manner consistent with all laws relating to industrial loan institutions and all rules and instructions that may be promulgated or issued by the commissioner.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-36-101. Definition.
As used in this chapter, unless the context otherwise requires, “industrial loan institution” means any corporation organized under the general corporation laws of this state, which is engaged in lending money, to be paid in weekly, monthly, or other periodical installments or principal sums, as a business. However, this definition shall not be construed to include building and loan associations, commercial banks or savings banks, trust companies, credit unions, pawnbrokers, agricultural or livestock pools, rural credit unions, or farmers cooperative societies.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-36-101
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 23-36-101. This identifies an authority to review, not proof of applicability.