Arkansas Statutes
§ 23-45-104 — Unauthorized activity as a financial institution - Incorporation of industrial loan institutions prohibited - Individuals and partnerships not to transact general commercial banking business
Arkansas·Title 23
(a)From and after May 31, 1997:
(1)It shall be unlawful for any person, by whatever name called, to do business as a bank within this state or to maintain any office in this state for the purpose of doing such business, except state banks, registered out-of-state banks, and national banks chartered to do business in this state;
(2)(A) No certificate of incorporation for a new state bank in this state shall be issued, and no new state bank shall be permitted to engage in business within Arkansas except by permission of the Bank Commissioner and upon approval of an application for a new state bank charter by the commissioner and the State Banking Board.
(B)The issuance of the certificate shall be within the sole discretion of the commissioner and the board, and the giving of the permissi
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Arkansas § 23-45-104 (Unauthorized activity as a financial institution - Incorporation of industrial loan institutions prohibited - Individuals and partnerships not to transact general commercial banking business) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1997, No. 89, § 1; 1997, No. 408, § 2; 1997, No. 940, § 112.
Nearby Sections
15
§ 23-1-101
Definitions§ 23-1-103
Compliance with Acts 1935, No. 324, and rules of commission required - Penalties for noncompliance§ 23-1-106
Penalties cumulative - Recovery of penalty not bar to further penalty or criminal prosecution§ 23-1-108
Jurisdiction and venue of actions§ 23-1-110
Actions tried without jury - Exceptions§ 23-1-111
Copies of official papers as evidence§ 23-1-115
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