Arkansas Statutes
§ 23-51-124 — Transactions in state trust company shares
Arkansas § 23-51-124
JurisdictionArkansas
Title23
This text of Arkansas § 23-51-124 (Transactions in state trust company shares) 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. § 23-51-124 (2026).
Text
(a)A state trust company may acquire its own shares if:
(1)The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares under regulatory accounting principles; and (2) The state trust company obtains the prior written approval of the Bank Commissioner.
(b)A state trust company shall not make loans upon the security of its own shares.
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Legislative History
Acts 1997, No. 940, § 24.
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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Bluebook (online)
Arkansas § 23-51-124, Counsel Stack Legal Research, https://law.counselstack.com/statute/ar/23-51-124.