Browse Arkansas Code titles and sections
23-47-507. Power to hold and sell collateral.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-47-507. Power to hold and sell collateral.
(a) A state bank may hold and sell all kinds of property that may come into its possession as collateral security for loans or any ordinary collection of debts in the manner provided by law.
(b) Any personal property coming into its possession in this manner and which is not otherwise authorized for state banks to own as an asset shall be disposed of as soon as possible and after twelve (12) months from the date of acquisition shall cease to be considered as a part of its assets.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-47-507
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:23-47-507
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 244fe49a5b67c6c1676a6683c9b4f3927aa7ee5284b2b9478cd70f90f873d84f
Source location: content.xml paragraph 22890
Stored source content
23-47-507. Power to hold and sell collateral.
(a) A state bank may hold and sell all kinds of property that may come into its possession as collateral security for loans or any ordinary collection of debts in the manner provided by law.
(b) Any personal property coming into its possession in this manner and which is not otherwise authorized for state banks to own as an asset shall be disposed of as soon as possible and after twelve (12) months from the date of acquisition shall cease to be considered as a part of its assets.
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