Arkansas Code Title 23, Subtitle 2, Chapter 48, Subchapter 3 - Organization and Management Generally

• § 23-48-301 - Application for Incorporation.
  (a) Any one (1) or more natural persons, eighteen (18) years old or older, a majority of whom shall be bona fide residents of...
• § 23-48-302 - Organizational Expenses.
  (a) Organizational expenses shall not be paid from capital or surplus funds of the state bank without the prior written consent of the Bank...
• § 23-48-303 - Promoter's Fees Prohibited.
  (a) A state bank shall not pay any fee, compensation, or commission for promotion in connection with its organization or apply any money received...
• § 23-48-304 - Investigation of New Charter Applications by Bank Commissioner.
  (a) As soon as practicable after acceptance of any application for a new state bank charter and receipt of the filing fee, the Bank...
• § 23-48-305 - Issuance and Filing of Certificate of Incorporation.
  (a) Upon approval of the State Banking Board and payment of the fees, the Bank Commissioner shall give to the persons named as incorporators...
• § 23-48-306 - Relocation of Place of Business -- Amendment of Articles.
  (a) (1) Any state bank may apply for authority to change its place of business from one (1) municipality to another by filing with...
• § 23-48-307 - Objects and Method of Charter Amendment.
  (a) Any state bank, through amendment to its articles of incorporation, may from time to time do the following, which shall be in addition...
• § 23-48-308 - Filing of Amendments to Articles of Incorporation.
  (a) (1) An application for approval of a proposed charter amendment described in § 23-48-307 shall be submitted to the Bank Commissioner in the...
• § 23-48-309 - Names of State Banks and Subsidiary Trust Companies.
  (a) (1) Prior to the formation of a state bank, or prior to the consummation of an interstate merger transaction, a person may reserve...
• § 23-48-310 - Minimum Capital Requirements Generally.
  (a) For all state banks chartered after May 30, 1997, the fully paid-up capital shall not be less than one million dollars ($1,000,000). For...
• § 23-48-311 - Increase or Decrease of Capital Stock.
  (a) The authorized capital stock of any state bank may be increased or decreased by amendment to its articles of incorporation, subject to the...
• § 23-48-312 - Liability of Shareholders -- Assessment of Stock.
  (a) (1) Except as otherwise provided in this section, a purchaser from a state bank of its own shares is not liable to the...
• § 23-48-313 - Classes of Stock -- Fractional Shares -- Scrip.
  (a) (1) (A) The shares of the capital stock of any state bank may consist of shares of common stock or of common and...
• § 23-48-314 - Preemptive Rights of Stockholders.
  (a) Unless otherwise provided by the articles of incorporation, every stockholder, upon the sale for cash of any new stock of the same class...
• § 23-48-315 - Issuance and Sale of Capital Notes.
  (a) (1) Any state bank may, through action of its board of directors and without requiring any action by stockholders, with the written consent...
• § 23-48-316 - Transfer of Stock.
  (a) The stock of every state bank shall be transferrable only on the books of the bank.(b) (1) When any number of shares of...
• § 23-48-317 - Change in Control.
  (a) As used in this section, unless the context otherwise requires, "control" has the meaning set forth in 12 U.S.C. § 1841(a)(2).(b) (1) Prior...
• § 23-48-318 - Stockholder Meetings -- Notice of Special Meeting.
  (a) A special meeting of the stockholders, whether held for the purpose of amending the articles of incorporation or for any other lawful purpose,...
• § 23-48-319 - Stockholder Meetings -- Notice of Annual Meeting.
  (a) Not less than ten (10) days' written notice of an annual meeting shall be given to each stockholder, other than stockholders who waive...
• § 23-48-320 - Stockholder Meetings -- Quorum -- Voting.
  (a) (1) Each share of stock shall be entitled to one (1) vote on each matter submitted at a meeting of stockholders except to...
• § 23-48-321 - Closing Transfer Books -- Fixing Record Date.
  (a) For the purpose of determining stockholders entitled to notice of, or to vote at, any annual or special meeting of stockholders or any...
• § 23-48-322 - Board of Directors -- Standard of Conduct.
  (a) (1) (A) The affairs of any state bank shall be managed and controlled by a board of directors of not fewer than three...
• § 23-48-323 - Officers -- Selection -- Terms -- Bonds.
  (a) A state bank shall have a president, a secretary, and other officers as the directors may from time to time designate. An individual...
• § 23-48-324 - Officers -- Taking Acknowledgments.
  (a) An official of a bank who holds a commission as notary public may act as notary in taking the acknowledgment of mortgages and...
• § 23-48-325 - Banker's Banks.
  (a) Any state bank may purchase, for its own account, shares of a bank or bank holding company if: (1) The stock of the...
• § 23-48-326 - Application of Arkansas Business Corporation Act.
  All state banks and subsidiary trust companies shall be subject to current provisions of the Arkansas Business Corporation Act, § 4-27-101 et seq., to...
• § 23-48-327 - Registered Office and Registered Agent for Service of Process.
  (a) (1) A state bank may designate and maintain a registered office and registered agent for service of process by filing a written designation...

Last modified: November 15, 2016