GroundRules
Ark. Code Ann. § 23-47-207: Payment of overdrafts - Liability of officer or employee
Where this section sits in the code
- AR Code
- Title 23
- Chapter 47
- Subchapter 2
(a) Any officer or employee who knowingly pays out the funds of any state bank upon the check, order, or draft of any individual, firm, corporation, or association which does not have on deposit with the bank a sum equal to the check, order, or draft is personally liable to it for the amount so paid unless the drawer of the check, order, or draft has previously arranged with the bank for a line of credit sufficient to cover the payment or unless the payment was made pursuant to a general authorization approved by the board of directors for the officer or employee to cover the payment.
(b) However, the board of directors may ratify the overdraft and relieve the employee from liability.
Collected 2026-09-17T21:35:43Z. Source file · JSON
Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text. Source · License
Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows. Source