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23-51-182. Enforcement.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-51-182. Enforcement.
(a)(1) Consistent with the Arkansas Administrative Procedure Act, § 25-15-201 et seq., after notice and opportunity for hearing, the Bank Commissioner may determine:
(A) That an office maintained by an out-of-state trust institution in this state is being operated in violation of any provision of the laws of this state or in an unsafe and unsound manner; or
(B) That a company is engaged in an unauthorized trust activity
(2) In either event, the commissioner shall have the authority to take all such enforcement actions as he or she would be empowered to take if the office or the company were a state trust company, including but not limited to issuing an order temporarily or permanently prohibiting the company from engaging in a trust business in this state.
(b) In cases involving extraordinary circumstances requiring immediate action, the commissioner may take any action permitted by subsection (a) of this section without notice or opportunity for hearing, but shall promptly afford a subsequent hearing upon an application to rescind the action taken. The commissioner shall promptly give notice to the home state regulator of each enforcement action taken against an out-of-state trust institution and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving the enforcement action.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-51-182
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:23-51-182
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 66a3b2b473150584435ddbf2f249b1e04859439ba48436448f006466c9ea80ed
Source location: content.xml paragraph 26163
Stored source content
23-51-182. Enforcement.
(a)(1) Consistent with the Arkansas Administrative Procedure Act, § 25-15-201 et seq., after notice and opportunity for hearing, the Bank Commissioner may determine:
(A) That an office maintained by an out-of-state trust institution in this state is being operated in violation of any provision of the laws of this state or in an unsafe and unsound manner; or
(B) That a company is engaged in an unauthorized trust activity
(2) In either event, the commissioner shall have the authority to take all such enforcement actions as he or she would be empowered to take if the office or the company were a state trust company, including but not limited to issuing an order temporarily or permanently prohibiting the company from engaging in a trust business in this state.
(b) In cases involving extraordinary circumstances requiring immediate action, the commissioner may take any action permitted by subsection (a) of this section without notice or opportunity for hearing, but shall promptly afford a subsequent hearing upon an application to rescind the action taken. The commissioner shall promptly give notice to the home state regulator of each enforcement action taken against an out-of-state trust institution and, to the extent practicable, shall consult and cooperate with the home state regulator in pursuing and resolving the enforcement action.
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Arkansas Code — all titles (historical 2020) · legal_authorities
25-15-201. Title.
This subchapter shall be known and cited as the “Arkansas Administrative Procedure Act”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 25-15-201
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 25-15-201. This identifies an authority to review, not proof of applicability.