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23-47-201. Notice of rules governing deposits.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-47-201. Notice of rules governing deposits.
(a)(1) Banks shall have the power to make rules governing deposits, including provisions for reasonable notice, not to exceed ninety (90) days, for the withdrawal of deposits and for changes in or amendments to those rules to be made by the bank without approval of the depositor.
(2) Notice of the rules and all changes therein shall be given to each customer whose deposits are affected by the rules, either by delivery or mailing of a copy to the customer or by posting them in a conspicuous area in the main office and in all branch offices of the bank.
(3) If the rules are stated on a signature card or other document signed by the customer, the bank shall be deemed to have given notice of the rules for purposes of this provision even if the signature card or document is returned to the bank.
(b) Rules so made shall be a valid contract between the depositor and the bank, subject to the right of the bank to change or amend the rules in the manner provided in the rules.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-47-201
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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Record provenance
Stable record: arkansas_code:legal_authorities:23-47-201
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 89d8e2c440b210d30d49776a5baac2c9f3f17b5debf52d98ccf41f3b0439a2a1
Source location: content.xml paragraph 22534
Stored source content
23-47-201. Notice of rules governing deposits.
(a)(1) Banks shall have the power to make rules governing deposits, including provisions for reasonable notice, not to exceed ninety (90) days, for the withdrawal of deposits and for changes in or amendments to those rules to be made by the bank without approval of the depositor.
(2) Notice of the rules and all changes therein shall be given to each customer whose deposits are affected by the rules, either by delivery or mailing of a copy to the customer or by posting them in a conspicuous area in the main office and in all branch offices of the bank.
(3) If the rules are stated on a signature card or other document signed by the customer, the bank shall be deemed to have given notice of the rules for purposes of this provision even if the signature card or document is returned to the bank.
(b) Rules so made shall be a valid contract between the depositor and the bank, subject to the right of the bank to change or amend the rules in the manner provided in the rules.
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