Ark. Code Ann. § 4-30-206: Noncomplying banks - Supervision by commissioner

On failure of any cooperative bank organized under this chapter prior to March 22, 1937, to comply with the provisions of § 4-30-205 , it shall become the duty of the Bank Commissioner to take charge of the cooperative bank under the provisions of Acts 1931, No. 109, § 8 [repealed].