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23-51-133. Pledge of assets.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-51-133. Pledge of assets.
A state trust company may not pledge or create a lien on any of its assets except to secure the repayment of money borrowed or as specifically authorized or required by § 23-51-130, or by rules adopted under this chapter. An act, deed, conveyance, pledge, or contract in violation of this section is void.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-51-133
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:23-51-133
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: dc4b56ec8f2be5069b0848aa4f6ccaec1e5567f9f70cc1062a16f3e37a991e7c
Source location: content.xml paragraph 25705
Stored source content
23-51-133. Pledge of assets.
A state trust company may not pledge or create a lien on any of its assets except to secure the repayment of money borrowed or as specifically authorized or required by § 23-51-130, or by rules adopted under this chapter. An act, deed, conveyance, pledge, or contract in violation of this section is void.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-51-130. Trust deposit.
(a) A state trust company may deposit trust funds with itself as an investment if authorized by the settlor or the beneficiary, provided:
(1) It maintains as security for the deposits a separate fund of securities, legal for trust investments, under control of a federal reserve bank or other entity approved by the Bank Commissioner, either in this state or elsewhere;
(2) The total market value of the security is at all times at least equal to the amount of the deposit;
(3) The separate fund is designated as such; and
(4) The separate fund is maintained under the control of another trust institution, bank or government agency.
(b) A state trust company may make periodic withdrawals from or additions to the securities fund required by subsection (a) of this section as long as the required value is maintained. Income from the securities in the fund belongs to the state trust company.
(c) Security for a deposit under this section is not required for a deposit under subsection (a) of this section to the extent the deposit is insured by the Federal Deposit Insurance Corporation or its successor.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-51-130
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 23-51-130. This identifies an authority to review, not proof of applicability.