23-37-101. Definitions.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-37-101. Definitions.

23-37-101. Definitions. (a) As used in this chapter, unless the context otherwise requires: (1) “Association” means a corporation carrying on the business of a savings and loan association or a building and loan association under a charter issued by the State of Arkansas; (2) “Board” means the Savings and Loan Association Board [abolished] duly appointed and acting pursuant to the terms of this chapter; (3) “Broker” means a person, firm, or corporation who acts for or on behalf of any foreign savings and loan association or its agents, in soliciting or receiving applications for or funds for a savings account in any foreign savings and loan association; (4) “Federal association” means a savings and loan association incorporated pursuant to the Home Owners’ Loan Act of 1933, whose principal business office is located within the territorial limits of this state; (5) “Foreign association” means an association chartered under the laws of another state or a federal association organized in another state, but does not mean a federal association organized in this state; (6) “Mutual association” means an association that does not have issued an outstanding permanent capital stock and whose affairs are managed by a board of directors elected by the members; (7) “Savings account” means that part of the savings liability of an association which is credited to a member by reason of the investment of funds in the association other than permanent capital stock; (8) “Stock association” means an association that has issued an outstanding permanent capital stock and whose affairs are managed by a board of directors elected by the holders of the permanent capital stock; and (9) “Supervisor” means the Supervisor of Savings and Loan Associations acting and appointed pur

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-37-101

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. A text match is a research starting point; applicability is not established.