Browse Arkansas Code titles and sections
23-48-910. Notice of subsequent merger.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-48-910. Notice of subsequent merger.
Each registered out-of-state bank that has established and maintains a branch in this state pursuant to this subchapter shall give at least thirty (30) days' prior written notice or, in the case of an emergency transaction, shorter notice that is consistent with applicable state or federal law, to the Bank Commissioner of any merger, consolidation, or other transaction that would cause a change of control with respect to the bank or any bank holding company that controls the bank, which requires that an application be filed pursuant to the Change in Bank Control Act of 1978, 12 U.S.C. § 1817(j), or the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., or any successor statutes thereto.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-48-910
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:23-48-910
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e5e1e3b4ff4abc6efe307a4a220b3a7e22769857eae11185ad6a89db50260960
Source location: content.xml paragraph 24528
Stored source content
23-48-910. Notice of subsequent merger.
Each registered out-of-state bank that has established and maintains a branch in this state pursuant to this subchapter shall give at least thirty (30) days' prior written notice or, in the case of an emergency transaction, shorter notice that is consistent with applicable state or federal law, to the Bank Commissioner of any merger, consolidation, or other transaction that would cause a change of control with respect to the bank or any bank holding company that controls the bank, which requires that an application be filed pursuant to the Change in Bank Control Act of 1978, 12 U.S.C. § 1817(j), or the Bank Holding Company Act of 1956, 12 U.S.C. § 1841 et seq., or any successor statutes thereto.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Reports of condition; access to reports**
(1) Each insured State nonmember bank and each foreign bank having an insured branch which is not a Federal branch shall make to the Corporation reports of condition which shall be in such form and shall contain such information as the Board of Directors may require. Such reports shall be made to the Corporation on the dates selected as provided in paragraph (3) of this subsection and the deposit liabilities shall be reported therein in accordance with and pursuant to paragraphs (4) and (5) of this subsection. The Board of Directors may call for additional reports of condition on dates to be fixed by it and may call for such other reports as the Board may from time to time require. Any such bank which (A) maintains procedures reasonably adapted to avoid any inadvertent error and, unintentionally and as a result of such an error, fails to make or publish any report required under this paragraph, within the period of time specified by the Corporation, or submits or publishes any false or misleading report or information, or (B) inadvertently transmits or publishes any report which is minimally late, shall be subject to a penalty of not more than $2,000 for each day during which such failure continues or such false or misleading information is not corrected. Such bank shall have the burden of proving that an error was inadvertent and that a report was inadvertently transmitted or published late. Any such bank which fails to make or publish any report required under this paragraph, within the period of time specified by the Corporation, or submits or publishes any false or misleading report or information, in a manner not described in the 2nd preceding sentence shall be subject to a penalty of not more than $20,000 for each d
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1817
Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 1817. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 982
TITLE 12—BANKS AND BANKING
§ 1816
Act of 1956 (12 U.S.C. 1843(k))) and, if applicable, from
the ownership or control of one or more insured deposi-
tory institutions, represent less than 15 percent of the
consolidated annual gross revenues of the company.’’
[For definitions of terms used in section 602 of Pub.
L. 111–203, set out above, see section 5301 of this title.]
§ 1816. Factors to be considered
The factors that are required, under section
1814 of this title, to be considered in connection
with, and enumerated in, any certificate issued
pursuant to section 1814 of this title and that
are required, under section 1815 of this title, to
be considered by the Board of Directors in con-
nection with any determination by such Board
pursuant to section 1815 of this title are the fol-
lowing:
(1) The financial history and condition of the
depository institution.
(2) The adequacy of the depository institu-
tion’s capital structure.
(3) The future earnings prospects of the de-
pository institution.
(4) The general character and fitness of the
management of the depository institution.
(5) The risk presented by such depository in-
stitution to the Deposit Insurance Fund.
(6) The convenience and needs of the commu-
nity to be served by such depository institu-
tion.
(7) Whether the depository institution’s cor-
porate powers are consistent with the purposes
of this chapter.
(Sept. 21, 1950, ch. 967, § 2[6], 64 Stat. 876; Pub. L.
101–73, title II, § 207, Aug. 9, 1989, 103 Stat. 206;
Pub. L. 104–208, div. A, title II, § 2704(d)(14)(F),
Sept. 30, 1996, 110 Stat. 3009–491; Pub. L. 109–171,
title II, § 2102(b), Feb. 8, 2006, 120 Stat. 9; Pub. L.
109–173, § 8(a)(7), Feb. 15, 2006, 119 Stat. 3611.)
Editorial Notes
PRIOR PROVISIONS
Section is deriv
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1817
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1817. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
**(a)**
(1) Except as provided in paragraph (5) of this subsection, “bank holding company” means any company which has control over any bank or over any company that is or becomes a bank holding company by virtue of this chapter.
(2) Any company has control over a bank or over any company if—
(A) the company directly or indirectly or acting through one or more other persons owns, controls, or has power to vote 25 per centum or more of any class of voting securities of the bank or company;
(B) the company controls in any manner the election of a majority of the directors or trustees of the bank or company; or
(C) the Board determines, after notice and opportunity for hearing, that the company directly or indirectly exercises a controlling influence over the management or policies of the bank or company.
(3) For the purposes of any proceeding under paragraph (2)(C) of this subsection, there is a presumption that any company which directly or indirectly owns, controls, or has power to vote less than 5 per centum of any class of voting securities of a given bank or company does not have control over that bank or company.
(4) In any administrative or judicial proceeding under this chapter, other than a proceeding under paragraph (2)(C) of this subsection, a company may not be held to have had control over any given bank or company at any given time unless that company, at the time in question, directly or indirectly owned, controlled, or had power to vote 5 per centum or more of any class of voting securities of the bank or company, or had already been found to have control in a proceeding under paragraph (2)(C).
(5) Notwithstanding any other provision of this subsection—
(A) No bank and no company owning or controlling voting shares of a bank is a bank hold
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1841
Stored review status: release_metadata_unconfirmed. The source passage cites 12 U.S.C. § 1841. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1216
TITLE 12—BANKS AND BANKING
§ 1841
Sec.
1842.
Acquisition of bank shares or assets.
1843.
Interests in nonbanking organizations.
1844.
Administration.
1845.
Repealed.
1846.
Reservation of rights to States.
1847.
Penalties.
1848.
Judicial review.
1848a.
Repealed.
1849.
Saving provision.
1850.
Acquisition of subsidiary and tying arrange-
ment: Federal Reserve Board proceedings;
application for authorization; competitor as
party in interest and person aggrieved; judi-
cial review.
1850a.
Securities holding companies.
1851.
Prohibitions on proprietary trading and cer-
tain relationships with hedge funds and pri-
vate equity funds.
1852.
Concentration limits on large financial firms.
§ 1841. Definitions
(a)(1) Except as provided in paragraph (5) of
this subsection, ‘‘bank holding company’’ means
any company which has control over any bank
or over any company that is or becomes a bank
holding company by virtue of this chapter.
(2) Any company has control over a bank or
over any company if—
(A) the company directly or indirectly or
acting through one or more other persons
owns, controls, or has power to vote 25 per
centum or more of any class of voting securi-
ties of the bank or company;
(B) the company controls in any manner the
election of a majority of the directors or
trustees of the bank or company; or
(C) the Board determines, after notice and
opportunity for hearing, that the company di-
rectly or indirectly exercises a controlling in-
fluence over the management or policies of the
bank or company.
(3) For the purposes of any proceeding under
paragraph (2)(C) of this subsection, there is a
presumption that any company which directly
or indirectly owns, controls, or has power to
vote less than 5 per centum of any
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1841
Stored review status: historical_2024_not_currentness_verified. The source passage cites 12 U.S.C. § 1841. This identifies an authority to review, not proof of applicability.