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23-48-1003. Effect of certificate of authority.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-48-1003. Effect of certificate of authority.
(a) A certificate of authority authorizes the out-of-state bank to which it is issued to transact business in this state subject, however, to the right of the state to revoke the certificate as provided in this chapter.
(b) An out-of-state bank with a valid certificate of authority has the same but no greater rights and has the same but no greater privileges as, and except as otherwise provided by this chapter, is subject to the same duties, restrictions, penalties, and liabilities now or later imposed on, a state bank of like character.
(c) This chapter does not authorize this state to regulate corporate governance matters of an out-of-state bank authorized to transact business in this state.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-48-1003
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:23-48-1003
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 32188d8497ea482831473b941587b203bf0338601d086a6e76b23fc6bab910bc
Source location: content.xml paragraph 24579
Stored source content
23-48-1003. Effect of certificate of authority.
(a) A certificate of authority authorizes the out-of-state bank to which it is issued to transact business in this state subject, however, to the right of the state to revoke the certificate as provided in this chapter.
(b) An out-of-state bank with a valid certificate of authority has the same but no greater rights and has the same but no greater privileges as, and except as otherwise provided by this chapter, is subject to the same duties, restrictions, penalties, and liabilities now or later imposed on, a state bank of like character.
(c) This chapter does not authorize this state to regulate corporate governance matters of an out-of-state bank authorized to transact business in this state.
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