Browse Arkansas Code titles and sections
23-46-304. Powers of State Banking Board — Filings with Bank Commissioner.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-46-304. Powers of State Banking Board — Filings with Bank Commissioner.
(a) In addition to all other powers conferred by Arkansas law, the State Banking Board shall have the power and duty to:
(1) Approve or disapprove all applications for charters for new state banks, except applications for new state bank charters in connection with failed institutions as provided in § 23-48-511;
(2) Approve or disapprove all applications for the merger or consolidation of one (1) or more banks, out-of-state banks, or savings and loan associations into a state bank;
(3) Approve or disapprove all applications for the purchase by one (1) state bank of over fifty percent (50%) of the assets of another depository institution, and all applications for the assumption by one (1) state bank of over fifty percent (50%) of the liabilities of another depository institution;
(4) Approve or disapprove all applications by a savings and loan association to convert to a state bank;
(5) Approve or disapprove all applications for amendments to the articles of incorporation of an existing state bank;
(6) Approve or disapprove all applications for the relocation of a state bank's main office from one (1) municipality to another;
(7) Approve or disapprove all rules promulgated by the Bank Commissioner;
(8) Authorize a state bank under circumstances in which it is not given authority under state law to participate in any public agency hereinafter created under the laws of this state or of the United States, the purpose of which is to afford advantages or safeguards to banks or trust companies, and to authorize compliance with all requirements and conditions imposed upon the participants;
(9) Subpoena witnesses; and
(10) Require such clerical and technical assistance as is necessary
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-46-304
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.
Issuing source page ↗
Authority boundary: historical statutory source snapshot not current law.
Open the recorded source website ↗
Record provenance
Stable record: arkansas_code:legal_authorities:23-46-304
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c8dd88c70c39be997dbc77520ddd78522b990b0da2c7b6faa9e5c25b1a6493ef
Source location: content.xml paragraph 22070
Stored source content
23-46-304. Powers of State Banking Board — Filings with Bank Commissioner.
(a) In addition to all other powers conferred by Arkansas law, the State Banking Board shall have the power and duty to:
(1) Approve or disapprove all applications for charters for new state banks, except applications for new state bank charters in connection with failed institutions as provided in § 23-48-511;
(2) Approve or disapprove all applications for the merger or consolidation of one (1) or more banks, out-of-state banks, or savings and loan associations into a state bank;
(3) Approve or disapprove all applications for the purchase by one (1) state bank of over fifty percent (50%) of the assets of another depository institution, and all applications for the assumption by one (1) state bank of over fifty percent (50%) of the liabilities of another depository institution;
(4) Approve or disapprove all applications by a savings and loan association to convert to a state bank;
(5) Approve or disapprove all applications for amendments to the articles of incorporation of an existing state bank;
(6) Approve or disapprove all applications for the relocation of a state bank's main office from one (1) municipality to another;
(7) Approve or disapprove all rules promulgated by the Bank Commissioner;
(8) Authorize a state bank under circumstances in which it is not given authority under state law to participate in any public agency hereinafter created under the laws of this state or of the United States, the purpose of which is to afford advantages or safeguards to banks or trust companies, and to authorize compliance with all requirements and conditions imposed upon the participants;
(9) Subpoena witnesses; and
(10) Require such clerical and technical assistance as is necessary or appropriate to carry out its duties.
(b) Upon the submission to it by the commissioner of each application, the board shall review the results of the commissioner's investigation and make further investigation, if any, that it may deem appropriate to enable it to determine the fitness of the applicants, the need from the public standpoint for the granting of the application, and all other questions, whether or not of like kind with those referred to in this section, which bear directly or indirectly upon the need or desirability from the public standpoint for the granting of the application.
(c)(1) Filing with the commissioner of any application or document required by the Arkansas Banking Code of 1997 or by State Bank Department rules shall be public notice of the matters contained in that application or document.
(2) The commissioner shall maintain the applications or documents in his or her custody.
(3) Upon request, the commissioner shall provide verification of the filing and reasonable access to inspection by the public.
(4) Nothing in this section shall be construed to modify the prohibitions upon the disclosure of confidential information contained in § 23-46-101 or the commissioner's authority to issue rules concerning the disclosure of confidential information.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-46-101. Confidential records.
(a) Notwithstanding the Freedom of Information Act of 1967, § 25-19-101 et seq., the following records of the State Bank Department shall be confidential and shall not be exhibited or revealed to the public except as stated in this section or in accordance with department rules:
(1) All examination reports filed with the department;
(2) All records disclosing information obtained from examinations;
(3) Investigations and reports revealing facts concerning a financial institution or the customers of a financial institution; and
(4) All personal financial statements submitted to the department for any purpose.
(b) Notwithstanding any provision of this section to the contrary, records deemed confidential in accordance with this section may be disclosed, in the Bank Commissioner's discretion, as follows:
(1) Under a validly issued subpoena and in the interest of justice, the commissioner may waive the privilege created in this section and produce examination reports and other related documents under the provisions of a protective order entered by a court or administrative tribunal of competent jurisdiction when the order is designed to protect the confidential nature of the information so disclosed from public dissemination;
(2) Official orders of the department may be disclosed within the discretion of the commissioner if the commissioner makes a determination that such a disclosure would not give advantage to a competitor or adversely affect the safety and soundness of the financial institution; and
(3) To state and federal regulatory agencies with jurisdiction over financial institutions or entities engaging in financial activities, including, but not limited to, insurance and securities brokerage and underwriting.
(c)
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-46-101
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 23-46-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-48-511. Commissioner's granting of new charter or branch facility in connection with failed institutions.
(a) Upon application of either individual incorporators or a bank holding company, the Bank Commissioner is authorized to grant a state bank charter to the applicant immediately and without the approval of the State Banking Board if the commissioner finds that the immediate formation of a new state bank will protect the depositors of a failed depository institution when the receiver of the failed depository institution has solicited bids for the sale of its deposits.
(b) The commissioner is further authorized to grant more than one (1) state bank charter pursuant to solicitation of bids by the receiver of a failed depository institution should the receiver determine to solicit bids for deposits at separate offices or branches of a failed depository institution.
(c) Any state bank charter granted by the commissioner pursuant to this section shall not be considered a de novo charter as that term is defined in § 23-45-102.
(d)(1) The commissioner may grant a branch bank application for a state bank to acquire the deposits and operate a branch of a failed depository institution regardless of state law limiting branch locations should the application be submitted pursuant to the solicitation of bids by the receiver of a failed depository institution and should the commissioner find the action would protect depositors of the failed depository institution.
(2) The commissioner may grant an application for a state bank to acquire deposit liabilities without continued operation of a bank facility if the applicant has submitted an application therefor pursuant to this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-48-511
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 23-48-511. This identifies an authority to review, not proof of applicability.