Browse Arkansas Code titles and sections
23-51-150. Merger authority.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-51-150. Merger authority.
(a) With the prior written approval of the Bank Commissioner, a state trust company may merge or consolidate with a state bank to the same extent as a state bank under the Arkansas Banking Code of 1997 or with another person to the same extent as a business corporation under the Arkansas Business Corporation Act, § 4-27-101 et seq., subject to this chapter.
(b) Implementation of a plan of merger by a trust company and a state bank, approval of the board, and shareholders of the parties must be made or obtained as provided by the Arkansas Banking Code of 1997 as if the state trust company were a state bank, except as otherwise provided by rules adopted under this chapter.
(c) Implementation of the plan of merger with a person other than a state bank, approval of the board and shareholders of the parties must be made or obtained as provided by the Arkansas Business Corporation Act, § 4-27-101 et seq., as if the state trust company were a domestic corporation and all other parties to the merger were foreign corporations and other entities, except as otherwise provided by rules adopted under this chapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-51-150
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:23-51-150
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 64acfc688b62f181a6edd8fb2fe45c51a6257c7cae7a6e7eca74292ca7cbd010
Source location: content.xml paragraph 25877
Stored source content
23-51-150. Merger authority.
(a) With the prior written approval of the Bank Commissioner, a state trust company may merge or consolidate with a state bank to the same extent as a state bank under the Arkansas Banking Code of 1997 or with another person to the same extent as a business corporation under the Arkansas Business Corporation Act, § 4-27-101 et seq., subject to this chapter.
(b) Implementation of a plan of merger by a trust company and a state bank, approval of the board, and shareholders of the parties must be made or obtained as provided by the Arkansas Banking Code of 1997 as if the state trust company were a state bank, except as otherwise provided by rules adopted under this chapter.
(c) Implementation of the plan of merger with a person other than a state bank, approval of the board and shareholders of the parties must be made or obtained as provided by the Arkansas Business Corporation Act, § 4-27-101 et seq., as if the state trust company were a domestic corporation and all other parties to the merger were foreign corporations and other entities, except as otherwise provided by rules adopted under this chapter.
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Arkansas Code — all titles (historical 2020) · legal_authorities
4-27-101. Short title.
This chapter shall be known and may be cited as the “Arkansas Business Corporation Act of 1987.”
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-27-101
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. The source passage cites 4-27-101. This identifies an authority to review, not proof of applicability.