{"data":{"id":"us-ar/ark.-code-ann.-23-48-501","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 23-48-501","heading":"Definitions","body":"As used in this subchapter: (1) \"Converting bank\" means a state bank converting to a national bank, a national bank converting to a state bank, or a savings and loan association converting to a state bank; (2) \"Dissenters' rights\" means the rights of dissenting stockholders specified in § 23-48-506 ; (3) \"Interstate merger transaction\" means: (A) The merger or consolidation of banks with different home states and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or (B) The purchase of all or substantially all of the assets, including all or substantially all of the branches and the assumption of all or substantially all of the liabilities of a bank whose home state is different from the home state of the acquiring bank; (4) \"Merger\" includes consolidation in all sections of this subchapter except § 23-48-509 ; (5) \"Purchase or assumption\" means the purchase by a state bank of over fifty percent (50%) of the assets of another depository institution, or the assumption by a state bank of over fifty percent (50%) of the liabilities of another depository institution; (6) \"Resulting bank\" means: (A) One (1) or more banks created from a merger or conversion; or (B) The bank purchasing over fifty percent (50%) of the assets or assuming over fifty percent (50%) of the liabilities of another depository institution in a purchase or assumption transaction or an interstate merger transaction; and (7) \"Wholly owned Arkansas bank holding company\" means a \"bank holding company\", as that term is defined in § 23-45-102 , incorporated under the laws of the State of Arkansas, all of the outstanding shares of each class of the capital stock of which are owned by a single individual or entity. Acts 1997, No. 89, § 1; 1997, No. 408, § 12; 2007, No. 170, § 1.\n\nAs used in this subchapter:\n\n(1) \"Converting bank\" means a state bank converting to a national bank, a national bank converting to a state bank, or a savings and loan association converting to a state bank;\n\n(2) \"Dissenters' rights\" means the rights of dissenting stockholders specified in § 23-48-506 ;\n\n(3) \"Interstate merger transaction\" means: (A) The merger or consolidation of banks with different home states and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or (B) The purchase of all or substantially all of the assets, including all or substantially all of the branches and the assumption of all or substantially all of the liabilities of a bank whose home state is different from the home state of the acquiring bank;\n\n(A) The merger or consolidation of banks with different home states and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or\n\n(B) The purchase of all or substantially all of the assets, including all or substantially all of the branches and the assumption of all or substantially all of the liabilities of a bank whose home state is different from the home state of the acquiring bank;\n\n(4) \"Merger\" includes consolidation in all sections of this subchapter except § 23-48-509 ;\n\n(5) \"Purchase or assumption\" means the purchase by a state bank of over fifty percent (50%) of the assets of another depository institution, or the assumption by a state bank of over fifty percent (50%) of the liabilities of another depository institution;\nferent from the home state of the acquiring bank;\n\n(4) \"Merger\" includes consolidation in all sections of this subchapter except § 23-48-509 ;\n\n(5) \"Purchase or assumption\" means the purchase by a state bank of over fifty percent (50%) of the assets of another depository institution, or the assumption by a state bank of over fifty percent (50%) of the liabilities of another depository institution;\n\n(6) \"Resulting bank\" means: (A) One (1) or more banks created from a merger or conversion; or (B) The bank purchasing over fifty percent (50%) of the assets or assuming over fifty percent (50%) of the liabilities of another depository institution in a purchase or assumption transaction or an interstate merger transaction; and\n\n(A) One (1) or more banks created from a merger or conversion; or\n\n(B) The bank purchasing over fifty percent (50%) of the assets or assuming over fifty percent (50%) of the liabilities of another depository institution in a purchase or assumption transaction or an interstate merger transaction; and\n\n(7) \"Wholly owned Arkansas bank holding company\" means a \"bank holding company\", as that term is defined in § 23-45-102 , incorporated under the laws of the State of Arkansas, all of the outstanding shares of each class of the capital stock of which are owned by a single individual or entity.","path":["AR Code","Title 23","Chapter 48","Subchapter 5"],"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":"a53657e05fe130b78be2b73f01fa47374d8649e5c60bc381318b01fbedb9a2a8","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-23-48-406","next":"us-ar/ark.-code-ann.-23-48-502"},"notice":"GroundRules: Original legal text. Not legal advice."}