Browse Arkansas Code titles and sections
23-48-905. Notice and filing requirements.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-48-905. Notice and filing requirements.
(a) Any out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a state bank shall notify the Bank Commissioner of the proposed merger not later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency and shall submit a copy of that application to the commissioner and pay the filing fee, if any, required by the commissioner.
(b) Any state bank which is a party to the interstate merger transaction shall comply with § 23-48-501 et seq. and with all other applicable state and federal laws.
(c) Any out-of-state bank which shall be the resulting bank in such an interstate merger transaction shall comply with applicable requirements of § 23-48-1001 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-48-905
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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Stable record: arkansas_code:legal_authorities:23-48-905
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9f3d847efff729de251aed6e7506f2921a9a875d41131a45473ac2c20c17a108
Source location: content.xml paragraph 24481
Stored source content
23-48-905. Notice and filing requirements.
(a) Any out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a state bank shall notify the Bank Commissioner of the proposed merger not later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency and shall submit a copy of that application to the commissioner and pay the filing fee, if any, required by the commissioner.
(b) Any state bank which is a party to the interstate merger transaction shall comply with § 23-48-501 et seq. and with all other applicable state and federal laws.
(c) Any out-of-state bank which shall be the resulting bank in such an interstate merger transaction shall comply with applicable requirements of § 23-48-1001 et seq.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-48-1001. Application for certificate of authority.
(a) An out-of-state bank that desires to operate a branch location in the State of Arkansas, whether initial entry into the state is by an interstate merger transaction or establishment of a full-service branch, shall apply for a certificate of authority to transact banking business in this state. An applicant shall deliver an application to the Bank Commissioner for filing by the consummation of an interstate merger transaction or before establishment of a full-service branch. The application shall state:
(1) The name of the bank;
(2) The name of the state or country under whose law it is chartered;
(3) Its date of formation and period of duration;
(4) The street address of its principal office;
(5) The address of its registered office in this state and the name of its registered agent at that office; and
(6) The number and par value, if any, of shares of the bank's capital stock owned or to be owned by residents of this state.
(b) The bank shall deliver with the completed application a certificate of existence, or a document of similar import, duly authenticated by the bank supervisory agency which chartered the bank or other official having custody of the corporate records of banking institutions in the state or country under whose law it is chartered.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-48-1001
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. The source passage cites 23-48-1001. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-48-501. Definitions.
As used in this subchapter:
(1) “Converting bank” means a state bank converting to a national bank, a national bank converting to a state bank, or a savings and loan association converting to a state bank;
(2) “Dissenters' rights” means the rights of dissenting stockholders specified in § 23-48-506;
(3) “Interstate merger transaction” means:
(A) The merger or consolidation of banks with different home states and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or
(B) The purchase of all or substantially all of the assets, including all or substantially all of the branches and the assumption of all or substantially all of the liabilities of a bank whose home state is different from the home state of the acquiring bank;
(4) “Merger” includes consolidation in all sections of this subchapter except § 23-48-509;
(5) “Purchase or assumption” means the purchase by a state bank of over fifty percent (50%) of the assets of another depository institution, or the assumption by a state bank of over fifty percent (50%) of the liabilities of another depository institution;
(6) “Resulting bank” means:
(A) One (1) or more banks created from a merger or conversion; or
(B) The bank purchasing over fifty percent (50%) of the assets or assuming over fifty percent (50%) of the liabilities of another depository institution in a purchase or assumption transaction or an interstate merger transaction; and
(7) “Wholly owned Arkansas bank holding company” means a “bank holding company”, as that term is defined in § 23-45-102, incorporated under the laws of the State of Arkansas, all of the outstanding shares of each class of the capital stock of which are owned by a single individual
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-48-501
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. The source passage cites 23-48-501. This identifies an authority to review, not proof of applicability.