Arkansas Code Title 23, Subtitle 2, Chapter 47, Subchapter 7 - Trust Powers

• § 23-47-701 - Authority of Bank Commissioner.
  The Bank Commissioner shall be authorized and empowered to grant to state banks applying therefor the right to operate a trust department to act...
• § 23-47-702 - Considerations Determinative of Grant or Denial of Applications.
  In determining whether to grant an application by a state bank for permission to operate a trust department to exercise the powers enumerated in...
• § 23-47-703 - Grant and Exercise of Powers Deemed Not in Contravention of Arkansas Law.
  The granting and exercise of such powers as are authorized by this subchapter shall not be deemed to be in contravention of any other...
• § 23-47-704 - Segregation of Fiduciary and General Assets -- Separate Books and Records.
  State banks exercising any or all of the powers enumerated in this subchapter shall segregate all assets held in its trust department from the...
• § 23-47-705 - Prohibited Operations -- Separate Investment Account -- Collateral for Certain Funds Used in Conduct of Business -- Lien and Claim Upon State Bank Failure.
  (a) (1) No state bank shall receive in its trust department deposits of current funds subject to check or the deposit of checks, drafts,...
• § 23-47-706 - Official's Oath or Affidavit.
  In any case in which Arkansas law requires that a corporation acting as trustee, executor, administrator, or in any capacity specified in this subchapter...
• § 23-47-707 - Loans of Trust Funds to Officers and Employees Prohibited -- Penalties.
  (a) It shall be unlawful for any state bank to lend to any officer, director, or employee any funds held in trust under the...
• § 23-47-708 - Surrender of Authorization -- Board Resolution -- Commissioner Certification -- Activities Affected.
  (a) (1) Any state bank desiring to surrender its right to operate a trust department and to exercise the powers granted under this subchapter,...
• § 23-47-709 - Revocation -- Procedures Available.
  (a) (1) In addition to the authority conferred by any other law, if, in the opinion of the Bank Commissioner, a state bank is...
• § 23-47-710 - Services Provided by Affiliates.
  (a) Any bank, subsidiary trust company, or national trust company qualified to act as a fiduciary in this state is hereby specifically authorized to...

Last modified: November 15, 2016