Ark. Code § 23-48-701

Current with legislation from 2024 Fiscal and Special Sessions.

Section 23-48-701 - Definitions

As used in this subchapter:

(1)

(A) "Full service branch" means a banking facility separate from the main office of the bank at which all lawful banking activities may be conducted as fully as in the main office.

(B) "Full service branch" includes a mobile facility that:

(i) Conducts banking business within the same county as the main office or another full service branch of the bank;

(ii) Does not have a single, permanent site;

(iii) Does not remain within five (5) miles of any banking location for more than two (2) business days;

(iv) Travels to various locations within the county to enable customers to conduct banking business; and

(v) Maintains a log of operations indicating the date and specific location of each stop;

(2) "Healthy bank" means a state bank whose financial condition satisfies the criteria established by State Bank Department rule; and

(3) "Supervisory banking authority" means the Bank Commissioner for state banks and the United States Comptroller of the Currency for national banks.

Ark. Code § 23-48-701

Amended by Act 2019, No. 315,§ 2549, eff. 7/24/2019.

Acts 1997, No. 89, § 1; 2005, No. 1816, § 1; 2007, No. 42, § 1.