Arkansas § 23-48-302 Organizational expenses

Arkansas Statutes

§ 23-48-302 — Organizational expenses

Arkansas § 23-48-302

Title23

This text of Arkansas § 23-48-302 (Organizational expenses) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 23-48-302 (2026).

Text

(a)Organizational expenses shall not be paid from capital or surplus funds of the state bank without the prior written consent of the Bank Commissioner.

(b)(1) Prior to applying for a charter, the incorporators shall establish an organizational expense fund in an amount the commissioner deems adequate.

(2)The fund shall be used for expenses incurred by the incorporators in connection with the organization of the proposed state bank.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Organizational expenses shall not be paid from capital or surplus funds of the state bank without the prior written consent of the Bank Commissioner. (b) (1) Prior to applying for a charter, the incorporators shall establish an organizational expense fund in an amount the commissioner deems adequate. (2) The fund shall be used for expenses incurred by the incorporators in connection with the organization of the proposed state bank.