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23-50-101. Prosecution of violations — Nonliability of commissioner.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-50-101. Prosecution of violations — Nonliability of commissioner.
(a) The Bank Commissioner may initiate any appropriate civil or administrative action or remedy upon discovering a violation of the Arkansas Banking Code of 1997 or any other statute or rule the enforcement of which is within the scope of his or her duty.
(b) Civil, administrative, or criminal actions initiated by the commissioner under this section which expose him or her or his or her estate to personal liability for damages, or otherwise, shall be defended by the State of Arkansas, and judgments, if any shall be obtained against him or her or his or her estate, shall be borne by the State of Arkansas.
(c) No person shall be subjected to any civil or criminal liability for any act or omission to act in good faith reliance upon an order or rule of the State Bank Department notwithstanding a subsequent decision by a court invalidating the order or rule.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-50-101
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:23-50-101
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9b2ed5d91bb9f748650c1f6353818b04fe8a4744735a256911627f0b14647dc6
Source location: content.xml paragraph 24967
Stored source content
23-50-101. Prosecution of violations — Nonliability of commissioner.
(a) The Bank Commissioner may initiate any appropriate civil or administrative action or remedy upon discovering a violation of the Arkansas Banking Code of 1997 or any other statute or rule the enforcement of which is within the scope of his or her duty.
(b) Civil, administrative, or criminal actions initiated by the commissioner under this section which expose him or her or his or her estate to personal liability for damages, or otherwise, shall be defended by the State of Arkansas, and judgments, if any shall be obtained against him or her or his or her estate, shall be borne by the State of Arkansas.
(c) No person shall be subjected to any civil or criminal liability for any act or omission to act in good faith reliance upon an order or rule of the State Bank Department notwithstanding a subsequent decision by a court invalidating the order or rule.
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