Arkansas Statutes
§ 23-51-124 — Transactions in state trust company shares
Arkansas·Title 23
(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.
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