23-45-103. Effect on existing financial institutions.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-45-103. Effect on existing financial institutions.

23-45-103. Effect on existing financial institutions. (a) The charters of state banks existing at the time of the adoption of the Arkansas Banking Code of 1997 shall continue in full force and effect, and all financial institutions and, to the extent applicable, all national banks and national trust companies, shall hereafter be operated in accordance with the provisions of the Arkansas Banking Code of 1997, and other applicable law. (b) Except as otherwise provided in the Arkansas Banking Code of 1997, the repeal of any provision of chapters 30-34 of this title at the time of adoption of the Arkansas Banking Code of 1997 shall not affect any right accrued or established, or any liability or penalty incurred, under such provision, prior to the repeal thereof. (c) All powers granted in the Arkansas Banking Code of 1997 may be freely exercised by any financial institution to which such powers apply without the necessity of amending its articles of incorporation, unless such articles expressly prohibit the exercise of such powers.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-45-103

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.