(a) Any institution may place its affairs and assets under the control of the Bank Commissioner by posting a notice on its front door as follows: "This financial institution is in the possession of the Arkansas State Bank Commissioner".
(b) The posting of the notice or the taking possession of any institution by the commissioner shall be sufficient to place all of the assets and property of whatever nature in the possession of the commissioner and shall operate as a bar to and dissolution of any attachment proceedings.
Section: Previous 23-49-107 23-49-108 23-49-109 23-49-110 23-49-111 23-49-112 23-49-113 23-49-114 23-49-115 23-49-116 23-49-117 23-49-118 23-49-119 23-49-120Last modified: November 15, 2016