Arkansas § 26-51-407 Financial institutions

Arkansas Statutes

§ 26-51-407 — Financial institutions

(a)A financial institution having its principal office in this state shall be taxed as a business corporation organized and existing under the laws of this state.

(b)(1) A financial institution having its principal office outside this state but doing business in this state shall be taxed as a foreign business corporation doing business in this state.

(2)However, this subsection is not intended to recognize the right of a foreign financial institution to conduct any business activities in this state except to the extent and under the conditions permitted by Acts 1953, No. 559, §§ 1-8 [unconstitutional] and any other applicable laws of this state.

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(a) A financial institution having its principal office in this state shall be taxed as a business corporation organized and existing under the laws of this state. (b) (1) A financial institution having its principal office outside this state but doing business in this state shall be taxed as a foreign business corporation doing business in this state. (2) However, this subsection is not intended to recognize the right of a foreign financial institution to conduct any business activities in this state except to the extent and under the conditions permitted by Acts 1953, No. 559, §§ 1-8 [unconstitutional] and any other applicable laws of this state.

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