{"data":{"id":"us-ar/ark.-code-ann.-23-49-101","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 23-49-101","heading":"Definitions","body":"As used in this chapter: (1) \"Circuit court\" means the court with which the State Bank Department has filed the notice of possession under this chapter. The circuit court will make a determination for sale of assets only and not a determination of whether or not to take charge of an institution under the Bank Commissioner's supervision; (2) \"Federal deposit insurance agency\" means an agency or instrumentality of the United States that insures to any extent the deposits of a depository institution, including the Federal Deposit Insurance Corporation; (3) \"Insolvent institution\" means an institution that: (A) Is, in the opinion of the commissioner, incapable of or unlikely to meet the demands of creditors or depositors on a timely basis; (B) Has liabilities in excess of the total value of its assets as determined by the commissioner; or (C) Has been advised by the Federal Deposit Insurance Corporation of the Federal Deposit Insurance Corporation's intention to withdraw deposit insurance coverage; and (4) \"Institution\" means a state bank, state trust company, or subsidiary trust company. Acts 1997, No. 89, § 1; 1997, No. 940, § 113.\n\nAs used in this chapter:\n\n(1) \"Circuit court\" means the court with which the State Bank Department has filed the notice of possession under this chapter. The circuit court will make a determination for sale of assets only and not a determination of whether or not to take charge of an institution under the Bank Commissioner's supervision;\n\n(2) \"Federal deposit insurance agency\" means an agency or instrumentality of the United States that insures to any extent the deposits of a depository institution, including the Federal Deposit Insurance Corporation;\n\n(3) \"Insolvent institution\" means an institution that: (A) Is, in the opinion of the commissioner, incapable of or unlikely to meet the demands of creditors or depositors on a timely basis; (B) Has liabilities in excess of the total value of its assets as determined by the commissioner; or (C) Has been advised by the Federal Deposit Insurance Corporation of the Federal Deposit Insurance Corporation's intention to withdraw deposit insurance coverage; and\n\n(A) Is, in the opinion of the commissioner, incapable of or unlikely to meet the demands of creditors or depositors on a timely basis;\n\n(B) Has liabilities in excess of the total value of its assets as determined by the commissioner; or\n\n(C) Has been advised by the Federal Deposit Insurance Corporation of the Federal Deposit Insurance Corporation's intention to withdraw deposit insurance coverage; and\n\n(4) \"Institution\" means a state bank, state trust company, or subsidiary trust company.","path":["AR Code","Title 23","Chapter 49"],"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":"5b0660ea12dc34509a9fef892520865aeda092a7ac89c24b1ee47320289c0a6c","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-23-48-911","next":"us-ar/ark.-code-ann.-23-49-102"},"notice":"GroundRules: Original legal text. Not legal advice."}