{"data":{"id":"us-ar/ark.-code-ann.-23-37-304","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 23-37-304","heading":"Permanent stock associations - Paid-in surplus requirements","body":"As a prerequisite to the approval of any application for a permanent stock association, the incorporators must show to the satisfaction of the Supervisor of Savings and Loan Associations a paid-in surplus of not less than one-third (1/3) of the aggregate amount of the permanent capital stock required by this chapter. The paid-in surplus may be used in lieu of earnings to pay organization and operating expenses, dividends on savings accounts, and to meet any loss reserve requirements.","path":["AR Code","Title 23","Chapter 37","Subchapter 3"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"f8029a1edec36907769ae2e0de50c08eeda9b94c7e1b62029563706baa27c452","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-23-37-303","next":"us-ar/ark.-code-ann.-23-37-305"},"notice":"GroundRules: Original legal text. Not legal advice."}