§ 23-48-1001 — Application for certificate of authority

Arkansas § 23-48-1001

• Jurisdiction: Arkansas
• Title: 23

Text

(a) An out-of-state bank that desires to operate a branch location in the State of Arkansas, whether initial entry into the state is by an interstate merger transaction or establishment of a full-service branch, shall apply for a certificate of authority to transact banking business in this state. An applicant shall deliver an application to the Bank Commissioner for filing by the consummation of an interstate merger transaction or before establishment of a full-service branch. The application shall state: (1) The name of the bank; (2) The name of the state or country under whose law it is chartered; (3) Its date of formation and period of duration; (4) The street address of its principal office; (5) The address of its registered office in this state and the name of its registered agent at that office; and (6) The number and par value, if any, of shares of the bank's capital stock owned or to be owned by residents of this state. (b) The bank shall deliver with the completed application a certificate of existence, or a document of similar import, duly authenticated by the bank supervisory agency which chartered the bank or other official having custody of the corporate records of banking institutions in the state or country under whose law it is chartered.

Legislative History

Acts 1997, No. 408, § 20; 2011, No. 796, § 5.