reglab/housing_qa huggingface dataset:
AR Code § 23-49-109 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-109. Presentation of claims — Notice of claims procedure — Rejection of claims — Statute of limitations

 (a) All parties having claims against the closed institution shall present their claims supported by proof to the receiver within one hundred eighty (180) days after the Bank Commissioner has taken possession.  (b) The receiver shall cause notice of the claims procedures prescribed by this section to be:  (1) Published once a month for three (3) consecutive months in a newspaper published in the City of Little Rock and having a general and substantially statewide circulation; and  (2) Mailed to each person whose name appears as a creditor upon books of the institution at the person's last address of record.    (c)  (1) Within one hundred eighty (180) days following receipt of the claim, the receiver shall notify in writing any claimant whose claim has been rejected. Notice is effective when mailed.  (2) Any claimant whose claim has been rejected by the receiver may petition the circuit court for a hearing on the claim within sixty (60) days from the date the claim was rejected.    (d) The period described in subsection (a) of this section may be extended by written agreement between the claimant and the receiver.  (e)  (1) The claim of any party against the closed institution shall be disallowed, other than any portion of the claim which was allowed by the receiver, as of the end of the sixty-day period described in subsection (c) of this section, if the party having the claim fails to:  (A) Request an administrative review of any claim by the receiver in accordance with proper procedure; or  (B) File suit on the claim, or continue an action commenced before the appointment of the receiver, before the end of the sixty-day period.    (2) The disallowance shall be final, and the claimant shall have no further rights or remedies with respect to the claim.
AR Code § 23-49-110 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-110. Claims filed after 180-day claim period

 Any claims filed after the one-hundred-eighty-day claim period prescribed by § 23-49-109 and subsequently accepted by the receiver or allowed by the circuit court shall be entitled to share in the distribution of assets only to the extent of the undistributed assets in the hands of the receiver on the date the claims are accepted or allowed.
AR Code § 23-49-111 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-111. Payment of claims

 (a) All claims against the institution's estate, proved to the receiver's satisfaction or approved by the circuit court, shall be paid in the following order:  (1) Administration expenses;  (2) Claims given priority under other provisions of state or federal law;  (3) Deposit obligations;  (4) Other general liabilities;  (5) Debt subordinated to the claims of depositors and general creditors; and  (6) Equity capital securities.    (b) Administrative expenses shall include:  (1) Court costs;  (2) Compensation of each regular officer or employee of the receiver for the time actually devoted by the officer or employee to the liquidation of the institution at an amount not to exceed the compensation paid to the officer or employee for the performance of his or her regular duties;  (3) Actual expenses of each regular officer and employee necessarily incurred in the performance of his or her duties;  (4) Compensation and expenses of any special representative, assistant, accountant, agent, or attorney employed by the receiver; and  (5) If the Bank Commissioner is acting as receiver, such reasonable general overhead expenses as may be incurred by the commissioner in the liquidation of the affairs of the institution, which shall be ascertained, determined, and fixed by the commissioner.    (c) Interest on any claims shall not be paid until all claims within the same class have received the full principal amount of claim.
AR Code § 23-49-112 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-112. Rejection of contracts and leases

 (a) Within one hundred eighty (180) days after the date that the Bank Commissioner has taken possession, the receiver may, at his or her election, reject:  (1) Any executory contracts to which the closed institution is a party without any further liability to the closed institution or the receiver; and  (2) Any obligation of the institution as a lessee of real or personal property.    (b) The receiver's election to reject a lease shall create no claim for rent other than rent accrued to the date of termination.
AR Code § 23-49-113 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-113. Subrogation of federal deposit insurance agency to rights of depositors

 Whenever a federal deposit insurance agency pays or makes available for payment the insured deposit liabilities of a closed institution, the federal deposit insurance agency, whether or not it acts as receiver, shall be subrogated by operation of law to all rights of depositors against the closed institution relating to claims for deposits so paid by the federal deposit insurance agency to the extent necessary to enable the federal deposit insurance agency, under federal law, to make insurance payments available to depositors of closed institutions.
AR Code § 23-49-114 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-114. Appointment of successor to fiduciary and representative proceedings

 (a)  (1) The receiver, with the approval of the circuit court, may appoint one (1) or more successors to any or all of the rights, obligations, assets, deposits, agreements, and trusts held by the closed institution as trustee, administrator, executor, guardian, agent, and all other fiduciary or representative capacities.  (2) The approval may be obtained in connection with the proceedings authorized under § 23-49-108.  (3)  (A) A successor's duties and obligations begin upon appointment to the same extent binding upon the closed institution and as though the successor had originally assumed the duties and obligations.  (B) Specifically, a successor shall be appointed to administer trusteeships, administrations, executorships, guardianships, agencies, and other fiduciary or representative proceedings to which the closed institution is named or appointed in wills, whenever probated, or to which it is appointed by any other instrument, court order, or by operation of law.      (b) This section shall not impair any right of the grantor or beneficiaries of trust assets to secure the appointment of a substituted trustee or manager.  (c) Within thirty (30) days after appointment, a successor shall give written notice, insofar as practical, that the successor has been appointed in accordance with applicable law to all interested parties named in:  (1) The books and records of the closed institution; and  (2) Trust documents held by it.
AR Code § 23-49-115 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-115. Notice concerning safekeeping and safe-deposit boxes

 (a)  (1) The receiver shall cause notice to be mailed to the last address of record to the owners of any personal property in the possession of or held by a closed institution for safekeeping, and to all lessees of safe-deposit boxes.  (2) The notice shall require the intended recipients to appear and assert their claims to the property within sixty (60) days from the date of the notice.    (b) Subject to approval of the circuit court, the receiver shall make such agreements or arrangements as may be necessary for the disposition of property held by the closed institution for safekeeping and the contents of safe-deposit boxes, and for the termination of any leases or other contracts relating to the property or contents.
AR Code § 23-49-116 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-116. Actions for enforcement of rights, demands, or claims vested in an institution or its shareholders or creditors

 Notwithstanding any other provision of state law, the receiver may, within five (5) years from the date of closing of the institution, institute and maintain, in the name of the receiver, any action or proceeding for the enforcement of any right, demand, or claim that is vested in the institution.
AR Code § 23-49-117 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-117. Contents of articles of dissolution

 When the proceedings described in this chapter have been completed, the receiver shall execute and file, in the manner provided in this section, articles of dissolution, setting forth the following information:   (1) The name of the institution;  (2) The place where its main office was located;  (3) The names and addresses of the directors and officers of the institution at the time the liquidation proceedings were begun;  (4) A brief summary of the aggregate amount of general claims finally allowed against the institution, the order in which the claims were paid, and the aggregate amount of all other claims against the institution. A statement of the aggregate payments made on each of the groups of claims must be provided, referencing the orders of the receiver or the circuit court authorizing those payments and the current reports documenting such payments; and  (5) A brief summary of the aggregate amount of payments made to the shareholders of the institution, whether of money or other property, and a reference to the orders of the receiver or the circuit court authorizing the payments and to the current reports wherein documentation of the payments is made.
AR Code § 23-49-118 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-118. Execution and filing of articles with department — Certificate of dissolution

 (a) The articles of dissolution shall be executed in duplicate and presented in duplicate to the State Bank Department accompanied by fees prescribed by department rules.  (b)  (1) Upon presentation of the articles of dissolution, the Bank Commissioner shall endorse his or her approval upon each of the duplicate copies of the articles if he or she finds that they conform to law.  (2) When all fees have been paid as required by law, the commissioner shall file one (1) copy of the articles in the department and issue two (2) certificates of dissolution. One (1) certificate of dissolution shall be filed with the department and the second shall be delivered to the receiver.    (c) Upon the issuance of the certificate of dissolution, the institution shall be dissolved and its existence shall cease.  (d) Upon the issuance of the certificate of dissolution, the receiver shall be authorized, as agent for the directors and shareholders of any subsidiary trust company, to file any and all documents with the Secretary of State necessary to terminate its corporate existence under applicable corporate law.
AR Code § 23-49-120 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 49 - Dissolution and Liquidation|§ 23-49-120. Voluntarily placing an institution in possession of commissioner

 (a) Any institution may place its affairs and assets under the control of the Bank Commissioner by posting a notice on its front door as follows: “This financial institution is in the possession of the Arkansas State Bank Commissioner”.  (b) The posting of the notice or the taking possession of any institution by the commissioner shall be sufficient to place all of the assets and property of whatever nature in the possession of the commissioner and shall operate as a bar to and dissolution of any attachment proceedings.
AR Code § 23-50-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-101. Prosecution of violations — Nonliability of commissioner

 (a) The Bank Commissioner may initiate any appropriate civil or administrative action or remedy upon discovering a violation of the Arkansas Banking Code of 1997 or any other statute or rule the enforcement of which is within the scope of his or her duty.  (b) Civil, administrative, or criminal actions initiated by the commissioner under this section which expose him or her or his or her estate to personal liability for damages, or otherwise, shall be defended by the State of Arkansas, and judgments, if any shall be obtained against him or her or his or her estate, shall be borne by the State of Arkansas.  (c) No person shall be subjected to any civil or criminal liability for any act or omission to act in good faith reliance upon an order or rule of the State Bank Department notwithstanding a subsequent decision by a court invalidating the order or rule.
AR Code § 23-50-102 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-102. Forfeiture of charter

 (a)  (1) If the directors of any institution under the supervision of the State Bank Department shall knowingly violate or knowingly permit any of its officers, agents, or servants to violate any of the laws enacted for the rule of any such institutions or any department rules, all rights, privileges, and franchises of the institution shall be subject to forfeiture.  (2)  (A) Any violation shall, however, be determined in the first instance by the Bank Commissioner, after notice to the institution of not less than five (5) days, and after hearing thereon, and subject to appeal by the institution to the circuit court of the county wherein the institution has its main office.  (B) Any appeal shall be cognizable and subject to hearing by the circuit court, either in term time or in vacation, at chambers, upon five (5) days' notice of the taking of the appeal and of the time and place for the hearing.      (b)  (1) Upon rendition of any decision adverse to any institution, the commissioner shall be authorized, in his or her discretion, to take charge of the institution and manage and supervise the business thereof, pending any appeal that may be taken from the decision or orders.  (2) Upon affirmance by the circuit court of the decision or orders appealed from, the commissioner shall be authorized to continue supervision, or to suspend the charter, of the institution, pending compliance with the decision or orders.  (3) If the decision or orders are not complied with in the case of a state bank or subsidiary trust company within a reasonable time to be fixed by the commissioner, the department shall proceed to liquidate the business and assets of the state bank or subsidiary trust company in the same manner as is provided in the case of insolvent state banks.
AR Code § 23-50-103 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-103. Misleading actions or use of words by unauthorized persons

 (a)  (1) All persons except those described in subdivision (a)(2) of this section are prohibited from using in this state as a portion of or in connection with their place of business their name or title or in reference to themselves in their stationery or advertising the following words or phrases, alone or in combination with any other word or phrase: “bank”, “banker”, “bankers”, “banking”, “federal reserve”, “trust company”, “trust”, “savings and loan”, “credit union”, or “building and loan” or any other word or phrase that tends to induce the belief that the party using it is authorized to engage in the business of a bank, trust company, savings and loan association, or credit union.  (2) The prohibitions contained in subdivision (a)(1) of this section shall not apply to those persons that discharge the burden of proving their authority to use the words or phrases described in subdivision (a)(1) of this section under the laws of this or another state or of the United States.    (b) All persons except those described in subdivision (a)(2) of this section are prohibited from doing or soliciting business in this state substantially in the manner or so as to induce the belief that the business in whole or in part is that of a bank, savings bank, trust company, credit union, or savings and loan association, either by the sale of contract, or of shares of its capital stock upon partial or installment payments thereof, or by the receipt of money, savings, dues, or other deposits, or by the issuance of certificates of deposit or certificates of investment of money, savings, or dues.  (c) Nothing in this section shall be construed as preventing the use of the word “bankers” in combination with other words in connection with the place of business, name, and title of any finance or investment company operated in connection with, as a subsidiary to, or having joint offices with a bank or trust company in this state, if the bank or trust company is subject to the supervision of the Bank Commissioner and if the bank or trust company has the word “bankers” alone or in combination with other words in its name or title.  (d) Each violation of subsection (a) of this section shall constitute a Class A misdemeanor.  (e) It is declared to be public policy that this law be liberally construed in favor of its enforcement.  (f) Nothing in this section shall be construed to authorize any person to engage in any activity not otherwise authorized under Arkansas law.
AR Code § 23-50-104 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-104. Circulation of false rumor injurious to bank

 A person is guilty of a Class A misdemeanor whenever he or she:   (1) Maliciously, and without cause, circulates or causes to be circulated, either verbally or in writing, any rumor with the intent to injuriously affect the financial standing or reputation of any bank doing business in this state;  (2) Makes any statement or circulates or assists in circulating any false rumor for the purpose of injuring the financial standing of any bank; or  (3) Seeks either by word or action to start a run upon a bank or connives or conspires with any parties for the purpose of injuring the standing or reputation or starting a run on the bank.
AR Code § 23-50-105 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-105. Embezzlement, misuse of funds, etc., by officer, director, etc

 (a) The following persons shall be guilty of a felony:  (1) Any officer, director, agent, or employee of any bank or subsidiary trust company who:  (A) Embezzles or willfully misapplies any of the moneys, funds, or credits of the bank or subsidiary trust company;  (B) Without authority from the directors of the bank or subsidiary trust company issues or puts forth any certificate of deposit, draws any order or bill of exchange, makes any acceptance, or assigns any note, bond, draft, bill of exchange, mortgage, judgment, or decree; or  (C) Makes any false entry in any book, report, or statement of the bank or trust company with the purpose in any case to injure or defraud the bank or subsidiary trust company, the Bank Commissioner, any agent or examiner appointed to examine the affairs of the bank or subsidiary trust company, or the State Banking Board;    (2) Every receiver or liquidating agent of a bank or subsidiary trust company who, with like purpose to defraud or injure, shall embezzle or willfully misapply any of the moneys, funds, or assets of his or her trust; and  (3) Every agent, attorney, employee, or assistant of any receiver or liquidating agent of any bank or subsidiary trust company who with like purpose to defraud or injure shall embezzle or willfully misapply any of the moneys, funds, or assets of the trust of the receiver or liquidating agent.    (b) Upon conviction, the person shall be fined in any sum not more than one million dollars ($1,000,000) or shall be imprisoned in the Arkansas penitentiary for not more than thirty (30) years, or both.
AR Code § 23-50-106 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-106. False statements or records — Bribery of commissioner, examiner, or department employee

 The following persons shall be guilty of a Class D felony:   (1) Any person or persons who shall knowingly subscribe to or make or cause to be made any false statement or false entry in the books of any financial institution with the purpose to deceive the Bank Commissioner or examiner;  (2) Any person or persons who shall knowingly subscribe to or exhibit false papers with the purpose to deceive the commissioner or the examiner;  (3) Any person or persons who shall make or publish any false statement concerning the assets, liabilities, or affairs of any financial institution; or  (4) Any person or persons who shall bribe or attempt to bribe or offer any gratuity to the commissioner or any examiner.
AR Code § 23-50-107 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-107. False statements or records by officer, agent, or employee

 Every officer, agent, or employee of any financial institution organized or doing business under the laws of the state who knowingly subscribes to or makes any false reports or any false statements or entries in the books of the financial institution or knowingly subscribes or exhibits any false writing or paper with the purpose to deceive any person as to the condition of the financial institution is guilty of a Class A misdemeanor.
AR Code § 23-50-108 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-108. False reports by commissioner or examiner — Acceptance of bribe

 Any commissioner or examiner who shall knowingly make a false or fraudulent report of the condition of any financial institution with the purpose to aid or abet its officers, owners, or agents in continuing to operate an insolvent institution or to injure the financial institution, or any examiner who shall receive or accept any bribe or gratuity given for the purpose of inducing him or her not to file a true and correct report of the condition thereof or who shall neglect to make an examination thereof because of having received a bribe or gratuity, is guilty of a Class D felony.