Statutes, codes, and regulations
Arkansas Code of 1987
Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIESSubtitle 2 - FINANCIAL INSTITUTIONS AND SECURITIESChapter 48 - ORGANIZATION AND OPERATION
Subchapter 6 - REORGANIZATION THROUGH PLAN OF EXCHANGE
Section 23-48-605 - State bank and holding company to remain separate - Nonliability of directors, officers, etc

Ark. Code § 23-48-605

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Current with legislation from 2024 effective through May 3, 2024.
Section 23-48-605 - State bank and holding company to remain separate - Nonliability of directors, officers, etc

The state bank and the bank holding company shall remain separate and distinct entities in all respects, with neither entity having any liability to the creditors or depositors, if any, or the stockholders of the other, or for any acts or omissions of the officers, directors, stockholders, or representatives of the other, other than obligations which may be expressly provided for in the plan of exchange.

Ark. Code § 23-48-605

Acts 1997, No. 89, § 1; 1999, No. 117, § 3.