GroundRules
Ark. Code Ann. § 23-51-109: Issuance of charter
Where this section sits in the code
- AR Code
- Title 23
- Chapter 51
(a) A state trust company may not engage in the trust business until it receives its charter from the Bank Commissioner. The commissioner may not deliver the charter until the state trust company has: (1) Elected or qualified the initial officers and directors named in the application for charter or other officers and directors approved by the commissioner; and (2) Complied with all other requirements of this chapter relative to the organization of a state trust company. (b) If a state trust company does not open and engage in the trust business within six (6) months after the date it receives its charter or conditional approval of application for charter, or within such further period as such period may be extended, the commissioner shall revoke the charter or cancel the conditional approval of application for charter without judicial action. Acts 1997, No. 940, § 9.
(a) A state trust company may not engage in the trust business until it receives its charter from the Bank Commissioner. The commissioner may not deliver the charter until the state trust company has: (1) Elected or qualified the initial officers and directors named in the application for charter or other officers and directors approved by the commissioner; and (2) Complied with all other requirements of this chapter relative to the organization of a state trust company.
(1) Elected or qualified the initial officers and directors named in the application for charter or other officers and directors approved by the commissioner; and
(2) Complied with all other requirements of this chapter relative to the organization of a state trust company.
(b) If a state trust company does not open and engage in the trust business within six (6) months after the date it receives its charter or conditional approval of application for charter, or within such further period as such period may be extended, the commissioner shall revoke the charter or cancel the conditional approval of application for charter without judicial action.
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