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23-49-118. Execution and filing of articles with department — Certificate of dissolution.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-49-118. Execution and filing of articles with department — Certificate of dissolution.
(a) The articles of dissolution shall be executed in duplicate and presented in duplicate to the State Bank Department accompanied by fees prescribed by department rules.
(b)(1) Upon presentation of the articles of dissolution, the Bank Commissioner shall endorse his or her approval upon each of the duplicate copies of the articles if he or she finds that they conform to law.
(2) When all fees have been paid as required by law, the commissioner shall file one (1) copy of the articles in the department and issue two (2) certificates of dissolution. One (1) certificate of dissolution shall be filed with the department and the second shall be delivered to the receiver.
(c) Upon the issuance of the certificate of dissolution, the institution shall be dissolved and its existence shall cease.
(d) Upon the issuance of the certificate of dissolution, the receiver shall be authorized, as agent for the directors and shareholders of any subsidiary trust company, to file any and all documents with the Secretary of State necessary to terminate its corporate existence under applicable corporate law.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-49-118
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:23-49-118
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c033b23420c25f5441f87af1a53fe1e921bdbb9322b3075e9eca1767e7fafcb4
Source location: content.xml paragraph 24912
Stored source content
23-49-118. Execution and filing of articles with department — Certificate of dissolution.
(a) The articles of dissolution shall be executed in duplicate and presented in duplicate to the State Bank Department accompanied by fees prescribed by department rules.
(b)(1) Upon presentation of the articles of dissolution, the Bank Commissioner shall endorse his or her approval upon each of the duplicate copies of the articles if he or she finds that they conform to law.
(2) When all fees have been paid as required by law, the commissioner shall file one (1) copy of the articles in the department and issue two (2) certificates of dissolution. One (1) certificate of dissolution shall be filed with the department and the second shall be delivered to the receiver.
(c) Upon the issuance of the certificate of dissolution, the institution shall be dissolved and its existence shall cease.
(d) Upon the issuance of the certificate of dissolution, the receiver shall be authorized, as agent for the directors and shareholders of any subsidiary trust company, to file any and all documents with the Secretary of State necessary to terminate its corporate existence under applicable corporate law.
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