{"data":{"id":"us-ar/ark.-code-ann.-23-48-505","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 23-48-505","heading":"Merger of state bank into an out-of-state state-chartered bank","body":"(a) Subject to the provisions of this subchapter and provided that no Arkansas bank which is a party to the merger has a de novo charter, a state bank may merge into an out-of-state bank. (b) The action to be taken by a merging state bank and its rights and liabilities and those of its shareholders shall be the same as those prescribed for the out-of-state state-chartered banks, at the time of the action, by the laws of the home state of the out-of-state state-chartered bank, and not by the law of this state, except that: (1) The assenting vote of the holders of a simple majority of each class of voting stock of a state bank shall be required for the merger; and (2) Upon the merger of a state bank into an out-of-state state-chartered bank, the stockholders of the state bank shall have dissenters' rights. (c) The merger shall only be consummated after compliance with all applicable provisions of § 23-48-901 et seq. (d) Upon the completion of the merger, the charter of any merging state bank shall automatically terminate. Acts 1997, No. 408, § 15.\n\n(a) Subject to the provisions of this subchapter and provided that no Arkansas bank which is a party to the merger has a de novo charter, a state bank may merge into an out-of-state bank.\n\n(b) The action to be taken by a merging state bank and its rights and liabilities and those of its shareholders shall be the same as those prescribed for the out-of-state state-chartered banks, at the time of the action, by the laws of the home state of the out-of-state state-chartered bank, and not by the law of this state, except that: (1) The assenting vote of the holders of a simple majority of each class of voting stock of a state bank shall be required for the merger; and (2) Upon the merger of a state bank into an out-of-state state-chartered bank, the stockholders of the state bank shall have dissenters' rights.\n\n(1) The assenting vote of the holders of a simple majority of each class of voting stock of a state bank shall be required for the merger; and\n\n(2) Upon the merger of a state bank into an out-of-state state-chartered bank, the stockholders of the state bank shall have dissenters' rights.\n\n(c) The merger shall only be consummated after compliance with all applicable provisions of § 23-48-901 et seq.\n\n(d) Upon the completion of the merger, the charter of any merging state bank shall automatically terminate.","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":"6a6a6ee7254036654be2b79ee802c25cc69f7469707a34a86bd124f946674139","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-23-48-504","next":"us-ar/ark.-code-ann.-23-48-506"},"notice":"GroundRules: Original legal text. Not legal advice."}