The Bank Commissioner shall be authorized and empowered to grant to state banks applying therefor the right to operate a trust department to act as trustee, executor, administrator, custodian, registrar, paying agent or transfer agent of stocks and bonds, guardian of estates, assignee, or receiver or to act in any other fiduciary capacity in which […]
In determining whether to grant an application by a state bank for permission to operate a trust department to exercise the powers enumerated in this subchapter, the Bank Commissioner may take into consideration the sufficiency of the capital base of the applying state bank, the needs of the community to be served, and any other […]
The granting and exercise of such powers as are authorized by this subchapter shall not be deemed to be in contravention of any other provision of Arkansas law.
State banks exercising any or all of the powers enumerated in this subchapter shall segregate all assets held in its trust department from the general assets of the bank and shall keep a separate set of books and records showing in proper detail all transactions engaged in under authority of this subchapter.
(a) (1) No state bank shall receive in its trust department deposits of current funds subject to check or the deposit of checks, drafts, bills of exchange, or other items for collection or exchange purposes. (2) Funds deposited or held in trust by the state bank awaiting investment shall be carried in a separate account […]
If Arkansas law requires that a corporation acting as trustee, executor, administrator, or in any capacity specified in this subchapter shall take an oath or make an affidavit, the president or chief executive officer, a vice president, or a trust officer of a state bank may take the necessary oath or execute the necessary affidavit.
(a) It shall be unlawful for any state bank to lend to any officer, director, or employee any funds held in trust under the powers conferred by this subchapter, or to sell assets held in trust to any such persons, without the prior written approval of the Bank Commissioner. (b) In the absence of the […]
(a) (1) Any state bank desiring to surrender its right to operate a trust department and to exercise the powers granted under this subchapter, in order to relieve itself of the necessity of complying with the requirements of this subchapter, or to have returned to it any securities which it may have deposited with the […]
(a) (1) In addition to the authority conferred by any other law, if, in the opinion of the Bank Commissioner, a state bank is unlawfully or unsoundly operating a trust department or exercising, or has unlawfully or unsoundly operated or exercised, or has failed for a period of five (5) consecutive years to operate a […]
(a) Any bank, subsidiary trust company, or national trust company qualified to act as a fiduciary in this state is hereby specifically authorized to utilize its respective affiliates to provide services for any trust or estate for which the bank, subsidiary trust company, or national trust company acts as a trustee or other fiduciary, provided […]
