reglab/housing_qa huggingface dataset:
AR Code § 23-37-504 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 5 - Savings Accounts|§ 23-37-504. Accounts of deceased nonresidents

 (a) When a savings account is held in any association or federal association by a person residing in another state or country, the account, together with additions thereto and earnings thereon, or any part thereof, may be paid to the administrator or executor appointed in the state or country where the account holder resided at the time of death if the administrator or executor has furnished the association with:  (1) Authenticated or certified copies of his or her letters; and  (2) An affidavit by the administrator or executor that, to his or her knowledge, no letters then are outstanding in this state and no petition for letters is pending on the estate in this state, and that there are no creditors of the estate in this state.    (b) Upon payment or delivery to the representative after receipt of the affidavit and authenticated copies, the association shall be released and discharged to the same extent as if the payment or delivery had been made to a legally qualified resident executor or administrator, and the association shall not be required to see to the application or disposition of the property.  (c) No action at law or in equity shall be maintained against the association for payment made in accordance with this section.
AR Code § 23-37-505 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 5 - Savings Accounts|§ 23-37-505. Withdrawals generally

 (a) Any savings account holder may, at any time, present a written application for withdrawal of all or any part of his or her savings account except to the extent the account may be pledged to the association or to another person on the books of the association.  (b)  (1) An association may pay, in full, each and every withdrawal request as presented, without requiring that written application therefor be made.  (2) At any time the board of directors of an association finds it to be in the best interest of the association, the board may, by proper resolution, require a written notice of not exceeding sixty (60) days before paying withdrawals, in which event no withdrawal request shall be paid until the expiration of the time for giving notice fixed by the board of directors.  (3) Upon the same day the resolution to require notice is made effective, the association shall notify the Supervisor of Savings and Loan Associations by telephone or telegraph that the resolution is in effect.    (c)  (1) In the event the Savings and Loan Association Board [abolished] makes an affirmative finding that a period of great financial stress or other emergency exists, either generally or in a specific locality in this state, or for a specific association, it may, with the approval of the Governor, restrict the right of an association to pay withdrawals, to the extent and in the manner which the board finds necessary or desirable for the protection of savings account holders and other creditors of the association.  (2) Any restriction on the withdrawals from an association may, with like approval, be at any time and from time to time extended, renewed, or modified.  (3) Any restriction shall be binding upon any association from the time the order of the board imposing the restriction is served on the affected association.  (4) The action of the board shall be a complete defense to any action or suit brought against any association on account or by reason of the observance or compliance with the restriction on withdrawals.  (5) The board may make and promulgate any rules which shall be required for the conduct of the business of an association for which withdrawals have been restricted pursuant to this subsection, with a view to the protection of the rights of the savings account holders, creditors, and members of the association, both with respect to savings account holders, creditors, and members who were such at the date of the restriction on withdrawals and those becoming savings account holders, creditors, or members after the restrictions have been imposed.    (d) While an application for withdrawals remains in effect and unpaid, no loan shall be made by an association secured by the pledge of a savings account.  (e) An application for withdrawal may be cancelled, in whole or in part, at any time by the holder of a savings account.
AR Code § 23-37-506 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 5 - Savings Accounts|§ 23-37-506. Conflicting claims to accounts

 In the event an association is given notice that conflicting claims of whatever kind and nature exist to the ownership or right to withdraw a savings account, the association may, at its option, without liability, withhold paying any withdrawals from the account until it receives a written withdrawal request executed by all the claimants to the savings account.
AR Code § 23-37-507 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 5 - Savings Accounts|§ 23-37-507. Damages for refusal to pay withdrawal request

 In the event an association wrongfully and without legal right refuses to pay a withdrawal request for a savings account, the owner of the savings account shall be entitled to recover damages from the association equal to interest at the legal rate prescribed by the laws of this state from the date the withdrawal request was refused. The owner shall not be entitled to recover from the association any special damages of whatever kind or nature.
AR Code § 23-37-508 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 5 - Savings Accounts|§ 23-37-508. Power of attorney

 An association or a federal association may recognize, or continue to recognize, the authority of an attorney in fact authorized in writing to manage or to make withdrawals, either in whole or in part, from a savings account until it receives written notice of the revocation of the authority of the attorney in fact or until it receives written notice of the death or adjudication of incompetency of the owner of the savings account.
AR Code § 23-37-509 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 5 - Savings Accounts|§ 23-37-509. Lien on account of borrower — Pledge of third party's account as security on loan

 (a) Every association operating under this chapter or any federal association shall have a lien, without further agreement or pledge, upon all savings accounts owned by any borrower, or savings accounts subject to withdrawal by any borrower, to secure the payment of any indebtedness of the borrower to the association. Upon default on any loan, the association may, without notice to or consent of the borrower, cancel on its books all or any part of those savings accounts and apply the withdrawal value of the accounts in payment of any indebtedness of the borrower to the association.  (b) An association may, by written instrument, waive its lien, in whole or in part, on any savings accounts.  (c) An association may take the pledge of savings accounts of the association owned by a person other than the borrower as security or additional security for any loan made or purchased by the association.
AR Code § 23-37-510 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 5 - Savings Accounts|§ 23-37-510. Validity of release or acquittance by officers of corporation or association

 A release or acquittance signed by either the president or the secretary of any corporation or any unincorporated association, whether foreign, domestic, charitable, public, or private, or signed by any person purporting to be the president or secretary of the corporation, who opens a savings account in the name of the corporation, shall constitute a valid and sufficient release of any association to the extent of any payment or delivery of rights or property made by the association to a corporation or unincorporated association upon the written direction of the president or secretary unless there has been filed with the association a copy of a resolution of the board of directors or other governing body of the corporation or unincorporated association designating other officers or agents of the corporation or unincorporated association who have the power to act for the corporation or unincorporated association with respect to the savings account.
AR Code § 23-37-512 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 5 - Savings Accounts|§ 23-37-512. Legal investments in accounts

 (a) Administrators, executors, guardians, trustees, and other fiduciaries, business corporations, insurance companies and charitable or educational corporations or associations, banks, credit unions, and all other financial institutions, and any person acting as custodian under the Uniform Securities Ownership by Minors Act, § 9-26-301 et seq., are specifically authorized and empowered to invest funds held by them in savings accounts of any association or of any federal association.  (b) Trustees of any pension, profit, profit-sharing, or retirement trust for employees of any public or private corporation and any person having the care, custody, or control of any funds held for a pension or retirement plan, system, or trust for the employees of this state, or any political subdivision of this state, are specifically authorized and empowered to invest funds held by them in savings accounts of any association or of any federal association to the extent that the savings account does not exceed an amount equal to the sum of all reserve accounts except specific or valuation reserves, undivided profits, surplus, and capital stock, but not including the proceeds of capital notes, debentures, or similar obligations.  (c) The provisions of this section are supplemental to any and all other laws relating to and declaring what shall be legal investments for the persons, corporations, organizations, and officials referred to in this section.
AR Code § 23-37-601 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 6 - Foreign Associations|§ 23-37-601. Operation in city on state line

 A savings and loan association doing business in a state adjoining this state, in a city or incorporated town which borders on a city or incorporated town in this state and which is divided by a state line other than a navigable stream, may conduct its business in this state if it satisfies all the conditions for the conduct of its business in the adjoining state involved, without further qualification under this chapter. However, in the conduct of its business in this state, it shall be subject to the provisions of this chapter.
AR Code § 23-37-602 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 6 - Foreign Associations|§ 23-37-602. Agents, brokers, etc., generally

 Unless acting as an agent for and on behalf of an association, no person, firm, or corporation shall, in this state, unless then licensed therefor pursuant to this chapter:   (1) Act or hold himself or herself out as an agent, broker, or solicitor for others of savings accounts for foreign savings and loan associations;  (2) Advertise in this state for the placing of savings accounts in foreign savings and loan associations; or  (3) Collect, receive, or transmit any funds or take applications for the opening of savings accounts in any foreign savings and loan association.
AR Code § 23-37-603 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 6 - Foreign Associations|§ 23-37-603. Broker's license

 (a) Application for a broker's license shall be made to the Supervisor of Savings and Loan Associations by the applicant and signed and sworn to by the applicant. The form of the application shall be prescribed by the supervisor and shall require full answers to any questions which may reasonably be necessary to determine the applicant's identity, residence, personal history, business record, experience, and other facts required by the supervisor to determine whether the applicant meets the qualifications for the license applied for.  (b) All applications shall be accompanied by the applicable license fee.  (c) As a prerequisite to issuing a broker's license, the applicant shall file with the supervisor a bond, in the form prescribed by the supervisor. This bond shall be in the principal amount of twenty thousand dollars ($20,000) with a corporate surety, conditioned on the faithful performance of the applicant's duties as a broker and the payment of all claims arising out of the performance by the applicant of his or her duties as a broker. The bond shall remain in full force and effect so long as the broker's license is outstanding.  (d) The supervisor shall promptly issue licenses applied for to persons qualified therefor in accordance with this section. The license shall state the name and address of the licensee, the date of issue, and shall provide for a termination on January 31 of each year.  (e) For the protection of the people of this state, the supervisor shall not issue, continue, or permit to exist any broker's license except in compliance with this chapter, and as to any person not possessing the following qualifications:  (1) The person must be of legal age;  (2) The person must be of good character;  (3) The person must have filed with the supervisor a bond pursuant to the terms of this section; and  (4) The person must have filed with the supervisor copies of all advertisements which the broker proposes to use in this state.
AR Code § 23-37-702 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 7 - Conversion, Merger, Etc.|§ 23-37-702. Conversion of federal association into state association

 (a) Upon the approval of the Federal Home Loan Bank Board [abolished], or other applicable federal authority, any federal association may convert itself into an association under this chapter upon a majority vote of the members of the federal association cast at an annual meeting or any special meeting called to consider that action.  (b) Copies of the minutes of the proceedings of the meeting of members, verified by affidavit of the secretary, shall be filed in the office of the Supervisor of Savings and Loan Associations. The verified copies of the proceedings of the meeting when so filed shall be presumptive evidence of the holding and action of the meeting.  (c)  (1) At the meeting at which conversion is voted upon, the members shall approve bylaws and adopt articles of incorporation and elect the directors who shall be the directors of the state-chartered association after conversion takes effect, provided that the terms and conditions of a conversion may provide for the directors of the federal association to serve as directors of the converted state-chartered association.  (2) Copies of the bylaws and articles of incorporation adopted at the meeting, verified by affidavit of the secretary, shall be filed with the office of the supervisor.    (d)  (1) If the bylaws and articles of incorporation are in conformity with the provisions of this chapter, and if a consent or acquiescence in the conversion by the Federal Home Loan Bank Board [abolished] or other applicable authority is filed with the supervisor, he or she shall endorse his or her approval on the articles of incorporation together with the following statement:  (2) Upon the supervisor's endorsement of approval, the former federal association shall be an association incorporated under the provisions of this chapter as a direct successor to the federal association.    (e) All the provisions regarding property and other rights contained in § 23-37-701 shall apply, in reverse order, to the conversion of a federal association into an association incorporated under this chapter so that the state-chartered association shall be a continuation of the corporate entity of the converting federal association and continue to have all of its property and rights.    “This association is incorporated by conversion from a federal savings and loan association.”
AR Code § 23-37-704 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 7 - Conversion, Merger, Etc.|§ 23-37-704. Contemporaneous conversion from federal mutual to state stock association

 (a) A federal association may file with the Savings and Loan Association Board [abolished] a joint petition for authority to convert from a federal association to a state-chartered association and contemporaneously to convert from a mutual association to a stock association.  (b) Pursuant to the provisions of § 23-37-703, the board may hold a hearing on the petition and issue its certificate of preliminary approval to a contemporaneous conversion from a federal association to a state-chartered stock association.
AR Code § 23-37-705 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 7 - Conversion, Merger, Etc.|§ 23-37-705. Reorganization, merger, consolidation, or sale of assets

 (a) Pursuant to a plan adopted by the board of directors and approved by the Savings and Loan Association Board [abolished] as being equitable to the members or stockholders of the association and as not impairing the usefulness and success of other properly conducted associations in the vicinity, an association shall have power to reorganize, or to merge or consolidate with, or to sell all or a portion of its assets to another association or a federal association.  (b) The plan of reorganization, merger or consolidation, or sale shall be approved by a majority vote of the members or stockholders of the affected associations cast at an annual meeting or at any special meeting called to consider such an action.  (c) In all cases, the corporate continuity of the resulting corporation shall possess the same incidents as that of an association which has converted in accordance with this chapter.
AR Code § 23-37-801 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-801. Title

 This subchapter shall be known and may be cited as the “Regional Savings and Loan Act of 1987”.
AR Code § 23-37-803 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-803. Penalties and remedies

 (a) In the event any association or savings and loan holding company consummates an acquisition that is prohibited by this subchapter, the Savings and Loan Association Board [abolished] shall require the association or savings and loan holding company to divest itself within two (2) years of its direct or indirect ownership or control of all Arkansas associations or Arkansas savings and loan holding companies.  (b) The board shall have the power to enforce the prohibitions contained in these sections through the imposition of fines and penalties, the issuance of cease and desist orders, and such other remedies as are provided by law.
AR Code § 23-37-804 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-804. Acts requiring prior approval of the board

 With the prior approval of the Savings and Loan Association Board [abolished] in accordance with § 23-37-807(a) and upon receipt of approval from all other applicable state and federal regulatory authorities having approval authority over the transaction:   (1) A company may become an Arkansas savings and loan holding company;  (2) An Arkansas savings and loan holding company may acquire:  (A) An Arkansas association or other Arkansas savings and loan holding company;  (B) A southern region association or a southern region savings and loan holding company; and  (C) An association or savings and loan holding company having association offices which are located outside of the southern region as authorized under § 23-37-811(a);    (3) A southern region savings and loan holding company may acquire a southern region savings and loan holding company having an Arkansas association subsidiary;  (4) An Arkansas state association may acquire a southern region association; and  (5) A southern region association may acquire an Arkansas state association.
AR Code § 23-37-805 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-805. Acts requiring prior approval of federal authorities

 With the prior approval of the Federal Home Loan Bank Board [abolished] and other applicable federal authorities in accordance with their approval authority over the transaction and without the necessary approval of the board except for the requirements under § 23-37-810:   (1) An Arkansas federal association may acquire a southern region association; and  (2) A southern region association may acquire an Arkansas federal association.
AR Code § 23-37-806 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-806. Savings and loan holding company acquisitions not requiring prior approval

 (a) Without any prior approval of the Savings and Loan Association Board [abolished], a southern region savings and loan holding company having an Arkansas association subsidiary may acquire:  (1) A southern region savings and loan holding company that does not have an Arkansas association subsidiary;  (2) A southern region association that does not have any branch offices in Arkansas; or  (3) To the extent authorized in § 23-37-811(a), an association or savings and loan holding company having association offices which are located outside the southern region.    (b) The southern region savings and loan holding company shall notify the board at least thirty (30) days prior to the consummation of the proposed transaction. The notification requirements of this section are satisfied by furnishing the board with a copy of the completed application seeking approval for the proposed transaction which is filed with the federal savings and loan regulatory authority.