Browse Arkansas Code titles and sections
23-51-170. Trust business.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-51-170. Trust business.
A state trust company or a state bank may:
(1) Perform any act as a fiduciary;
(2) Engage in any trust business;
(3) Exercise any incidental power that is reasonably necessary to enable it to fully exercise, according to commonly accepted fiduciary customs and usages, a power conferred in this chapter; and
(4) If a state trust company, exercise any other power authorized by § 23-51-104.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-51-170
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:23-51-170
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 86ef5046ecf4a7688848cfa3f599db02988a3721b7905bed58dde92a6268b171
Source location: content.xml paragraph 26072
Stored source content
23-51-170. Trust business.
A state trust company or a state bank may:
(1) Perform any act as a fiduciary;
(2) Engage in any trust business;
(3) Exercise any incidental power that is reasonably necessary to enable it to fully exercise, according to commonly accepted fiduciary customs and usages, a power conferred in this chapter; and
(4) If a state trust company, exercise any other power authorized by § 23-51-104.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-51-104. Organization and powers of state trust company.
(a) Subject to the other provisions of this chapter, one or more persons may organize and charter a state trust company. A state trust company may perform any act as a fiduciary or engage in any trust business within or without this state.
(b) Subject to § 23-51-111, a state trust company may exercise the powers of an Arkansas business corporation reasonably necessary or helpful to enable exercise of its specific powers under this chapter.
(c) A state trust company may contribute to community funds, or to charitable, philanthropic, or benevolent instrumentalities conducive to public welfare, amounts that its board considers appropriate and in the interests of the state trust company.
(d) Subject to § 23-51-130, a state trust company may deposit trust funds with itself or an affiliate.
(e) Subject to obtaining any required insurance from the Federal Deposit Insurance Corporation (FDIC), a state trust company may receive and pay deposits with or without interest, made by agencies of the United States Government or of a state, county, or municipality.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-51-104
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 23-51-104. This identifies an authority to review, not proof of applicability.