GroundRules
Ark. Code Ann. § 23-51-124: Transactions in state trust company shares
Where this section sits in the code
- AR Code
- Title 23
- Chapter 51
(a) A state trust company may acquire its own shares if: (1) The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares under regulatory accounting principles; and (2) The state trust company obtains the prior written approval of the Bank Commissioner. (b) A state trust company shall not make loans upon the security of its own shares. Acts 1997, No. 940, § 24.
(a) A state trust company may acquire its own shares if: (1) The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares under regulatory accounting principles; and (2) The state trust company obtains the prior written approval of the Bank Commissioner.
(1) The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares under regulatory accounting principles; and
(2) The state trust company obtains the prior written approval of the Bank Commissioner.
(b) A state trust company shall not make loans upon the security of its own shares.
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