Arkansas § 23-51-196 Interests in trust institutions prohibited

Arkansas Statutes

§ 23-51-196 — Interests in trust institutions prohibited

Arkansas § 23-51-196

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This text of Arkansas § 23-51-196 (Interests in trust institutions prohibited) 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. § 23-51-196 (2026).

Text

(a)Neither the Bank Commissioner nor any employee or officer of the State Bank Department who participates in the examination of a trust institution, or who may be called upon to make an official decision or determination affecting the operation of a trust institution, shall be an officer, director, attorney, owner, or holder of stock in any state trust company, or any company which owns or controls a state trust company, or receive, directly or indirectly, any payment or gratuity from any such organizations. A person subject to this section may not borrow money from a state trust company.

(b)A person subject to this section may:

(1)Be a depositor in any trust institution that the department regulates; and (2) Purchase trust or fiduciary services, other than credit services, under rates

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(a) Neither the Bank Commissioner nor any employee or officer of the State Bank Department who participates in the examination of a trust institution, or who may be called upon to make an official decision or determination affecting the operation of a trust institution, shall be an officer, director, attorney, owner, or holder of stock in any state trust company, or any company which owns or controls a state trust company, or receive, directly or indirectly, any payment or gratuity from any such organizations. A person subject to this section may not borrow money from a state trust company. (b) A person subject to this section may: (1) Be a depositor in any trust institution that the department regulates; and (2) Purchase trust or fiduciary services, other than credit services, under rates and terms generally available to other customers of the trust institution.