Arkansas Code of 1987 (2023) › Title 23 - PUBLIC UTILITIES AND REGULATED INDUSTRIES (§§ 23-1-101 — 23-119-105) › Subtitle 2 - FINANCIAL INSTITUTIONS AND SECURITIES (§§ 23-30-101 — 23-55-1007) › Chapter 46 - STATE BANK DEPARTMENT AND STATE BANKING BOARD (§§ 23-46-101 — 23-46-607) › Subchapter 4 - PROCEEDINGS BEFORE STATE BANKING BOARD AND BANK COMMISSIONER (§§ 23-46-401 — 23-46-407) › Section 23-46-402 - Meetings of board - Notice

(a)
(1)
The Chair of the State Banking Board or the Bank Commissioner may call a special meeting of the board upon notice through a personal communication with each member of the board by telephone or through a written notice transmitted by ordinary, certified, or registered mail, personal delivery, overnight delivery, or telefacsimile directed to each member of the board at his or her business or residence address as shown on the records of the board.
(2)
The records of the State Bank Department shall affirmatively reflect the time and manner in which the meeting was called and notice thereof given.
(b)
The board members may waive any notice of a special meeting by signing a written consent to the holding of the meeting or by appearing at the meeting and participating therein.
(c)
In the instances in which notice of a special meeting is not waived by the board members, the notice shall be given to the board members at least fourteen (14) days before the meeting.
(d)
(1)
If at any time it is impossible for the commissioner or the chair to give notice of a meeting to board members because of the death, disability, or absence from the state of the members, a meeting of the board may be called by notice given to the members who are available.
(2)
In this event, the unanimous action of three (3) of the members who were so served with notice shall be the action of the board.
(3)
This rule shall also be applicable in situations in which, under subsection (g) of this section, the board is permitted to act informally without a fixed meeting.
(e)
The board may also hold regular meetings on dates fixed in its procedures, policies, and rules.
(f)
(1)
The board may permit any or all of its members to participate in a regular or special meeting by, or conduct the meeting through the use of, any means of communication by which all members participating may simultaneously hear each other during the meeting.
(2)
A member participating in a meeting by this means is deemed to be present in person at the meeting.
(g)
(1)
Matters other than applications described in §
23-46-403
requiring the board's consideration and which are not contested may, in the commissioner's discretion, be considered by the board through mailing or delivering of all necessary documents and correspondence to all board members, no formal meeting being necessary.
(2)
Applications submitted to the board according to this procedure must be filed with the commissioner for at least three (3) days prior to submission to the board with no protest's having been filed.
(3)
Where the application is thus submitted, the written approval or disapproval endorsed upon the application, or a copy thereof, and transmitted to the commissioner by at least four (4) members of the board shall represent the action of the board.
Amended by Act 2019, No. 315,§ 2527, eff. 7/24/2019.
Acts 1997, No. 89, § 1.