reglab/housing_qa huggingface dataset:
AR Code § 23-50-109 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-109. Disclosure of information or false report by examiner

 Any examiner who shall disclose any information obtained by him or her in the course of his or her employment, except to the Bank Commissioner or the directors of the financial institution, or when subpoenaed as a witness in a legal proceeding, or who shall knowingly make, state, or publish any false statement or report concerning the assets, liabilities, or affairs of the financial institution is guilty of a Class D felony, shall be immediately removed from office, and shall be liable under his or her official bond to the institution injured.
AR Code § 23-50-110 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 50 - Miscellaneous Violations of Banking Laws|§ 23-50-110. Certification of check when funds insufficient

 (a) It shall be unlawful for any officer, director, agent, or employee of any bank to certify any check drawn upon the bank unless the person drawing the check has on deposit with the bank, at the time the check is certified, an amount of money not less than the amount specified in the check.  (b) Any check so certified by a duly authorized officer, director, agent, or employee shall be a good and valid obligation against the bank.  (c) However, any officer, director, agent, or employee of any bank who shall willfully violate any provision of this section, or who shall resort to any device or receive any fictitious obligation, directly or collaterally, in order to evade the provisions thereof, or who shall certify a check before the amount thereof shall have been regularly deposited in the bank to the credit of the drawer thereof is guilty of a Class A misdemeanor.
AR Code § 23-51-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-101. Title

 This chapter may be cited as the “Arkansas Trust Institutions Act”.
AR Code § 23-51-103 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-103. Rules

 The Bank Commissioner may promulgate such rules as he or she determines to be necessary or appropriate in order to implement the provisions of this chapter.
AR Code § 23-51-104 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-104. Organization and powers of state trust company

 (a) Subject to the other provisions of this chapter, one or more persons may organize and charter a state trust company. A state trust company may perform any act as a fiduciary or engage in any trust business within or without this state.  (b) Subject to § 23-51-111, a state trust company may exercise the powers of an Arkansas business corporation reasonably necessary or helpful to enable exercise of its specific powers under this chapter.  (c) A state trust company may contribute to community funds, or to charitable, philanthropic, or benevolent instrumentalities conducive to public welfare, amounts that its board considers appropriate and in the interests of the state trust company.  (d) Subject to § 23-51-130, a state trust company may deposit trust funds with itself or an affiliate.  (e) Subject to obtaining any required insurance from the Federal Deposit Insurance Corporation (FDIC), a state trust company may receive and pay deposits with or without interest, made by agencies of the United States Government or of a state, county, or municipality.
AR Code § 23-51-105 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-105. Articles of association of state trust company

 The articles of association of a state trust company must be signed and acknowledged by each organizer and must contain:   (1) The name of the state trust company;  (2) The period of its duration, which may be perpetual;  (3) The powers of the state trust company, which may be stated as:  (A) All powers granted to a state trust company in this state; or  (B) A list of the specific powers that the state trust company chooses and is authorized to exercise;    (4) The aggregate number of shares that the state trust company will be authorized to issue, the number of classes of shares, which may be one or more, the number of shares of each class if more than one class, and a statement of the par value of the shares of each class or that the shares are to be without par value;  (5) If the shares are to be divided into classes, the designation of each class and statement of the preferences, limitations, and relative rights of the shares of each class;  (6) Any provision granting to shareholders the preemptive right to acquire additional shares of the state trust company;  (7) Any provision granting the right of shareholders to cumulative voting in the election of directors;  (8) The aggregate amount of consideration to be received for all shares initially issued by the state trust company, and a statement signed and verified by the organizers that the capital stock has been fully subscribed and the purchase price therefor has been paid into an escrow account approved by the Bank Commissioner;  (9) Any provision consistent with law that the organizers elect to set forth in the articles of association for the regulation of the internal affairs of the state trust company or that is otherwise required by this chapter to be set forth in the articles of association;  (10) The street address of the state trust company's principal office required to be maintained under § 23-51-172; and  (11) The number of directors or managers constituting the initial board, which may not be fewer than three (3), and the names and street addresses of the persons who are to serve as directors until the first annual meeting of shareholders or until successor directors have been elected and qualified.
AR Code § 23-51-106 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-106. Application for state trust company charter

 (a) An application for a state trust company charter must be made under oath and in the form required by the Bank Commissioner and must be supported by information, data, records, and opinions of counsel that the commissioner requires. The application must be accompanied by a non-refundable filing fee of not less than three thousand dollars ($3,000) nor more than ten thousand dollars ($10,000) as set by rule of the commissioner and proof of escrow of deposit for the required capital.  (b) The commissioner shall grant a state trust company charter only on proof that one or more viable markets exist within or outside of this state that may be served in a profitable manner by the establishment of the proposed state trust company. In making such a determination, the commissioner shall examine the business plan which shall be submitted as part of the application for a state trust company charter and consider:  (1) The market or markets to be served;  (2) Whether the proposed organizational and capital structure and amount of initial capitalization is adequate for the proposed business and location;  (3) Whether the anticipated volume and nature of business indicates a reasonable probability of success and profitability based on the market sought to be served;  (4) Whether the proposed officers and directors, as a group, have sufficient fiduciary experience, ability, standing, competence, trustworthiness, and integrity to justify a belief that the proposed state trust company will operate in compliance with law and that success of the proposed state trust company is probable;  (5) Whether each principal shareholder has sufficient experience, ability, standing, competence, trustworthiness, and integrity to justify a belief that the proposed state trust company will be free from improper or unlawful influence or interference with respect to the state trust company's operation in compliance with law; and  (6) Whether the organizers are acting in good faith.    (c) The failure of an applicant to furnish required information, data, opinions of counsel, other material or the required fee is considered an abandonment of the application.
AR Code § 23-51-107 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-107. Notice and investigation of charter application

 (a) The Bank Commissioner shall notify the organizers when the application is complete and accepted for filing and all required fees and deposits have been paid. Upon filing of an application with the commissioner, the organizers of the proposed state trust company shall give notice of filing through publication by one (1) insertion in a newspaper published in the City of Little Rock and having a general and substantially statewide circulation and shall give written notice of filing through the United States mail to all trust institutions maintaining a principal office or a trust office in the county wherein the principal office of the proposed state trust company is to be located.  (b) At the expense of the organizers, the commissioner shall investigate the application and inquire into the identity and character of each proposed director, officer, and principal shareholder. The commissioner shall prepare a written report of the investigation, and any person may request a copy of the nonconfidential portions of the application and written report as provided by the Freedom of Information Act of 1967, § 25-19-101 et seq. Rules adopted under this chapter may specify the confidential or nonconfidential character of information obtained by the State Bank Department under this section. Except as provided in rules regarding confidential information, the financial statement of a proposed officer, director, or principal shareholder is confidential and not subject to public disclosure.
AR Code § 23-51-108 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-108. Hearing and decision on charter application

 (a) No person shall appear in opposition to the application unless the person shall have filed a written protest to the granting of the application within thirty (30) days of the date of the notice of the filing of the application. The protest must state the grounds for objection and must be accompanied by a filing fee of not less than two thousand dollars ($2,000) nor more than five thousand dollars ($5,000) for each protestant, such amount to be set by rule promulgated by the Bank Commissioner.  (b) Once the written report of investigation has been completed, the commissioner shall establish a time for hearing on the charter application.  (c) Notice of the time, place, and purpose of the hearing shall be given at least thirty (30) days before the hearing as follows:  (1) By letter from the commissioner to the organizers of the proposed state trust company and to each trust institution to which the organizers of the application are required to give written notice pursuant to § 23-51-107(a);  (2) By letter from the commissioner to each person who has notified the commissioner of an intention to oppose the application, provided that if a group of persons has protested the application, the notice may be given to one (1) member of the group; and  (3) By release to news media.    (d) If the commissioner sets a hearing, the commissioner shall conduct a public hearing and as many prehearing conferences and opportunities for discovery as the commissioner considers advisable and consistent with applicable law and rules.  (e) Based on the record of any hearing conducted pursuant to subsection (d) of this section, the commissioner shall determine whether all of the necessary conditions set forth in § 23-51-106(b) have been established and shall enter an order granting or denying the charter. The commissioner may make approval of any application conditional and shall include any conditions in the order granting the charter.
AR Code § 23-51-109 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-109. Issuance of charter

 (a) A state trust company may not engage in the trust business until it receives its charter from the Bank Commissioner. The commissioner may not deliver the charter until the state trust company has:  (1) Elected or qualified the initial officers and directors named in the application for charter or other officers and directors approved by the commissioner; and  (2) Complied with all other requirements of this chapter relative to the organization of a state trust company.    (b) If a state trust company does not open and engage in the trust business within six (6) months after the date it receives its charter or conditional approval of application for charter, or within such further period as such period may be extended, the commissioner shall revoke the charter or cancel the conditional approval of application for charter without judicial action.
AR Code § 23-51-110 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-110. Required capital

 (a) The Bank Commissioner may not issue a charter to a state trust company having required capital of less than one million dollars ($1,000,000), except as provided in subsection (b) of this section.  (b) The commissioner may require additional capital for a proposed or existing state trust company or, on application in the exercise of discretion consistent with protecting safety and soundness, reduce the amount of minimum capital required for a proposed or existing state trust company, if the commissioner finds the condition and operations of an existing state trust company or the proposed scope or type of operations of a proposed state trust company requires additional, or permits reduced, capital consistent with the safety and soundness of the state trust company. The safety and soundness factors to be considered by the commissioner in the exercise of such discretion include but are not limited to,  (1) The nature and type of business conducted;  (2) The nature and degree of liquidity in assets held in a corporate capacity;  (3) The amount of fiduciary assets under management;  (4) The type of fiduciary assets held and the depository of the assets;  (5) The complexity of fiduciary duties and degree of discretion undertaken;  (6) The competence and experience of management;  (7) The extent and adequacy of internal controls;  (8) The presence or absence of annual unqualified audits by an independent certified public accountant;  (9) The reasonableness of business plans for retaining or acquiring additional capital; and  (10) The existence and adequacy of insurance obtained or held by the trust company for the purpose of protecting its clients, beneficiaries and grantors.    (c) The proposed effective date of an order requiring an existing state trust company to increase its capital must be stated in the order as no sooner than twenty (20) days after the date the proposed order is mailed or delivered. Unless the state trust company requests a hearing before the commissioner in writing before the effective date of the proposed order, the order becomes effective and is final and nonappealable. This subsection does not prohibit an application to reduce capital requirements of a proposed or an existing state trust company under subsection (b) of this section.  (d) Subject to subsection (b) of this section and § 23-51-118, a state trust company to which the commissioner issues a charter shall at all times maintain capital in at least the amount required under subsection (a) of this section, plus any additional amount or less any reduction the commissioner directs under subsection (b) of this section.
AR Code § 23-51-111 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-111. Application of laws relating to general business corporations

 (a) The Arkansas Business Corporation Act, § 4-27-101 et seq., applies to a trust company to the extent not inconsistent with this chapter or the proper business of a trust company, except that any reference to the Secretary of State means the Bank Commissioner unless the context requires otherwise.  (b) Unless expressly authorized by this chapter or a rule of the commissioner, a trust company may not take an action authorized by the Arkansas Business Corporation Act, § 4-27-101 et seq., regarding its corporate status, capital structure, or a matter of corporate governance, of the type for which the Arkansas Business Corporation Act, § 4-27-101 et seq., would require a filing with the Secretary of State if the trust company were a business corporation, without first submitting the filing to the commissioner for the same purposes for which it otherwise would be required to be submitted to the Secretary of State and compliance with the applicable provisions of this chapter.  (c) The commissioner may adopt rules to limit or refine the applicability of subsection (a) of this section to a trust company or to alter or supplement the procedures and requirements of the Arkansas Business Corporation Act, § 4-27-101 et seq., applicable to an action taken under this chapter.
AR Code § 23-51-112 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-112. Commissioner hearings — Appeals

 (a) This section does not grant a right to a hearing to a person that is not otherwise granted by governing law. A hearing before the Bank Commissioner that is required or authorized by law may be conducted by a hearing officer on behalf of the commissioner. A matter made confidential by law must be considered by the commissioner in a closed hearing.  (b) The commissioner may convene a hearing to receive evidence and argument regarding any matter before the commissioner for decision or review under this chapter.  (c) No person shall appear in opposition to the application unless the person shall have filed a written protest pursuant to § 23-51-108 and paid the applicable fee.  (d) At the hearing all organizers of the proposed state trust company and any person making a timely written protest against the application may appear. The attorneys for any such person may appear and be heard.  (e) The commissioner may subpoena witnesses on his or her own motion or on the request of any party to the proceedings.  (f) The admission of evidence at the hearing shall be controlled by § 25-15-213. The parties shall have the right to cross-examine witnesses. Official notice may be taken of judicially cognizable facts and of generally recognized technical or scientific facts within the commissioner's specialized knowledge. The parties may bind themselves by stipulation.  (g) The organizers shall be responsible for procuring and paying for a verbatim record of the proceeding. It will be the duty of the organizers to furnish at least one (1) copy of the transcript to the commissioner free of charge.  (h) The commissioner shall render his or her decision in writing, at or after a hearing, which decision shall include the commissioner's findings of fact and conclusions of law.  (i)  (1) The time for filing a petition for judicial review under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., shall run from the date the final decision of the commissioner is mailed or delivered, in written form, to the parties desiring to appeal.  (2) The hearing of such a petition for review will be advanced on the docket of each reviewing court as a matter of public interest.
AR Code § 23-51-113 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-113. Trust companies chartered under prior law

 The charter of a corporation which was previously a trust company incorporated under any laws of this state prior to the adoption of the Arkansas Banking Code of 1997 may be converted to a state trust company under this chapter, if the charter, or evidence satisfactory to the Bank Commissioner that the corporation is still in existence and in good standing, is presented to the State Bank Department within six (6) months of enactment of this chapter for substitution of a charter issued under this chapter.
AR Code § 23-51-114 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-114. Amendment of state trust company articles of association

 (a) A state trust company that has been granted a charter under § 23-51-109 or a predecessor statute may amend or restate its articles of association for any lawful purpose, including the creation of authorized but unissued shares in one or more classes or series.  (b) An amendment authorizing the issuance of shares in series must contain:  (1) The designation of each series and of any variations in the preferences, limitations, and relative rights among series to the extent that the preferences, limitations, and relative rights are to be established in the articles of association; and  (2) A statement of any authority to be vested in the board to establish series and determine the preferences, limitations, and relative rights of each series.    (c) Amendment or restatement of the articles of association of a state trust company and approval of the board and shareholders must be made or obtained in accordance with provisions of the Arkansas Business Corporation Act, § 4-27-101 et seq., for the amendment or restatement of articles of incorporation except as otherwise provided by this chapter or rules adopted under this chapter. The original and one (1) copy of the articles of amendment or restated articles of association must be filed with the Bank Commissioner for approval. Unless the submission presents novel or unusual questions, the commissioner shall approve or reject the amendment or restatement within thirty (30) days after the date the commissioner considers the submission informationally complete and accepted for filing. The commissioner may require the submission of additional information as considered necessary to an informed decision to approve or reject any amendment or restatement or articles of association under this section.  (d) If the commissioner finds that the amendment or restatement conforms to law and any conditions imposed by the commissioner, and any required filing fee has been paid, the commissioner shall:  (1) Endorse the face of the original and copy with the date of approval and the word “Approved”;  (2) File the original in the State Bank Department's records; and  (3) Deliver a certified copy to the amendment or restatement to the state trust company.    (e) An amendment or restatement, if approved, takes effect on the date of approval, unless the amendment or restatement provides for a different effective date.