Arkansas § 23-37-315 Corporate name

Arkansas Statutes

§ 23-37-315 — Corporate name

(a)(1) The name of every new association organized under this chapter shall include either the words "savings and loan association" or "building and loan association".

(2)These words shall be preceded by appropriate descriptive words approved by the Savings and Loan Association Board [abolished].

(3)An ordinal number may not be used as a single descriptive word preceding the words "savings and loan association" or "building and loan association" unless such words are followed by the words "of __________________," the blank being filled by the name of the town, city, or county in which the association has its home office.

(4)The words "national", "federal", "United States", "insured", "guaranteed", or any form thereof, separately or in any combination thereof with other words or syllabl

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(a) (1) The name of every new association organized under this chapter shall include either the words "savings and loan association" or "building and loan association". (2) These words shall be preceded by appropriate descriptive words approved by the Savings and Loan Association Board [abolished]. (3) An ordinal number may not be used as a single descriptive word preceding the words "savings and loan association" or "building and loan association" unless such words are followed by the words "of __________________," the blank being filled by the name of the town, city, or county in which the association has its home office. (4) The words "national", "federal", "United States", "insured", "guaranteed", or any form thereof, separately or in any combination thereof with other words or syllables, may not be used as part of the corporate name of an association organized under this chapter. (b) A charter shall not be granted to a proposed association having the same name as any other association or federal savings and loan association authorized to do business in this state or a name so nearly resembling it as to be calculated to deceive, except an association formed by a reincorporation, reorganization, or consolidation of other associations, or upon the sale of the property or franchise of an association. (c) No person, firm, company, association, fiduciary, partnership, or corporation, either domestic or foreign, unless authorized to do business in this state under the provisions of this chapter, shall do business under any name or title which indicates, or reasonably implies, that the business is the character or the kind of business carried on or transacted by an association, or which is calculated to lead any person to believe that the business is that of an association. (d) Upon application by the Supervisor of Savings and Loan Associations or by any affected association, a court of competent jurisdiction may issue an injunction to restrain any such entity from violating or continuing to violate any of the foregoing provisions of this section.

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