Arkansas Code Title 23, Subtitle 2, Chapter 47, Subchapter 5 - Loans
- § 23-47-501 - Loan Limits -- Maximum Generally.
(a) The total indebtedness to any state bank of any person shall at no time exceed twenty percent (20%) of the capital base of...
- § 23-47-502 - Loan Limits -- Inclusions and Exceptions.
(a) The following loans and other forms of indebtedness shall not be included in the limitation of twenty percent (20%) imposed by § 23-47-501...
- § 23-47-503 - Loans Involving Stock of State Bank.
(a) It shall be unlawful for any state bank to knowingly: (1) Loan its funds to its stockholders on its own stock, or stock...
- § 23-47-504 - Loans to Affiliates and Insiders.
The provisions of subsections (g) and (h) of section 22 of the Federal Reserve Act, 12 U.S.C. §§ 375a and 375b, and the regulations...
- § 23-47-505 - Illegal Loans -- Liability of Officer or Director.
Any officer or director of any state bank who shall knowingly make or approve a loan in violation of §§ 23-47-501 -- 23-47-504 or...
- § 23-47-506 - Sale of Certain Mortgage Loans.
Notwithstanding any other provision of law, any state bank which has as one (1) of its principal purposes the making or purchasing of loans...
- § 23-47-507 - Power to Hold and Sell Collateral.
(a) A state bank may hold and sell all kinds of property that may come into its possession as collateral security for loans or...
- § 23-47-508 - Disposition of Real Estate Acquired Through Debt Collection.
(a) Except as provided in subsection (b) of this section, real estate acquired through the collection of debts previously contracted in the ordinary course...
- § 23-47-509 - Loans to Minors.
Whenever a minor borrows money from a bank for the purpose of defraying the expenses of his or her higher education or for necessaries,...
- § 23-47-510 - Casualty Insurance -- Replacement Cost Coverage.
(a) A state bank, when making a mortgage loan, may not require, as a condition or term of the mortgage, that the mortgagor purchase...
Last modified: November 15, 2016