Arkansas Code § 23-51-124 - Transactions in State Trust Company Shares

(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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Last modified: November 15, 2016