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23-47-807. Qualification as successor fiduciary.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-47-807. Qualification as successor fiduciary.
For the purposes of qualification as successor fiduciary under any requirements contained in any document creating a fiduciary account or any statute of this state relating to fiduciary accounts, the subsidiary trust company or national trust company:
(1) Is considered to have capital and surplus equal to its capital and surplus plus the capital and surplus of its owning bank holding company; and
(2) Shall be treated as a national bank, unless:
(A) It is not a national bank under federal law relating to national banks; and
(B) It has not entered into a substitution agreement with an affiliated bank that is a national bank under federal law relating to national banks.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-47-807
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:23-47-807
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cfad7e4b9080263d6a4d6379a995cd59ba6584fbd632dd2b224236c84837ad53
Source location: content.xml paragraph 23170
Stored source content
23-47-807. Qualification as successor fiduciary.
For the purposes of qualification as successor fiduciary under any requirements contained in any document creating a fiduciary account or any statute of this state relating to fiduciary accounts, the subsidiary trust company or national trust company:
(1) Is considered to have capital and surplus equal to its capital and surplus plus the capital and surplus of its owning bank holding company; and
(2) Shall be treated as a national bank, unless:
(A) It is not a national bank under federal law relating to national banks; and
(B) It has not entered into a substitution agreement with an affiliated bank that is a national bank under federal law relating to national banks.
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