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23-48-306. Relocation of place of business — Amendment of articles.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-48-306. Relocation of place of business — Amendment of articles.
(a)(1) Any state bank may apply for authority to change its place of business from one (1) municipality to another by filing with the Bank Commissioner, as an amendment to its articles of incorporation, two (2) copies of a resolution to that effect, and such additional information which the commissioner may require.
(2) The resolution must be adopted upon the affirmative vote of the holders of at least a simple majority of the outstanding shares entitled to vote thereon, at any annual or special meeting of the stockholders.
(3) Both copies of the resolution shall be signed by the president or chief executive officer or a vice president.
(4) One (1) of the copies of the resolution shall be retained by the commissioner. The other copy, if the commissioner and State Banking Board approve the amendment, shall be returned with the commissioner's endorsement of approval thereof.
(b) The amendment shall become effective when it has been approved by the commissioner and the board.
(c) Each application for authority to change a state bank's place of business shall be accompanied by a fee as shall be set by State Bank Department rule, which fee shall be paid to the department.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-48-306
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:23-48-306
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5ab6dfc606b515b7d1c53efe3666fd136fdfd367dd716daa4d461917984db3f2
Source location: content.xml paragraph 23456
Stored source content
23-48-306. Relocation of place of business — Amendment of articles.
(a)(1) Any state bank may apply for authority to change its place of business from one (1) municipality to another by filing with the Bank Commissioner, as an amendment to its articles of incorporation, two (2) copies of a resolution to that effect, and such additional information which the commissioner may require.
(2) The resolution must be adopted upon the affirmative vote of the holders of at least a simple majority of the outstanding shares entitled to vote thereon, at any annual or special meeting of the stockholders.
(3) Both copies of the resolution shall be signed by the president or chief executive officer or a vice president.
(4) One (1) of the copies of the resolution shall be retained by the commissioner. The other copy, if the commissioner and State Banking Board approve the amendment, shall be returned with the commissioner's endorsement of approval thereof.
(b) The amendment shall become effective when it has been approved by the commissioner and the board.
(c) Each application for authority to change a state bank's place of business shall be accompanied by a fee as shall be set by State Bank Department rule, which fee shall be paid to the department.
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