§ 23-37-801. Title
This subchapter shall be known and may be cited as the “Regional Savings and Loan Act of 1987”.
§ 23-37-802. Definitions
As used in this subchapter, unless the context otherwise requires: (1) “Acquire”, as applied to an association or a savings and loan holding company, means any of the following actions or transactions: (A) The merger or consolidation of an association with another association or with a savings and loan holding company; (B) The acquisition of […]
§ 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 […]
§ 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 […]
§ 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 […]
§ 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 […]
§ 23-37-807. Applications to the board for approval
(a) Whenever an application is filed as required under § 23-37-806, or if approval of the Savings and Loan Association Board [abolished] pursuant to this section is required under § 23-37-810, the board shall approve the transaction if it is otherwise approved as required by applicable laws, and if, in addition: (1) The laws of […]
§ 23-37-808. Permissible nondisqualified acquisitions
A southern region association, a southern region savings and loan holding company, an Arkansas association, or an Arkansas savings and loan holding company may acquire or control, and does not cease to be a southern region association, a southern region savings and loan holding company, an Arkansas association, or Arkansas savings and loan holding company, […]
§ 23-37-809. Prohibited acquisitions
(a) Except as specifically permitted under § 23-37-812, no Arkansas association, Arkansas savings and loan holding company, southern region association, or southern region savings and loan holding company having an Arkansas association subsidiary may acquire an association or savings and loan holding company which is not either an Arkansas savings and loan holding company or […]
§ 23-37-810. Acquirer of an Arkansas association or Arkansas savings and loan holding company subject to Arkansas laws
Any southern region association or southern region savings and loan holding company which directly or indirectly acquires an Arkansas association or an Arkansas savings and loan holding company is subject to all the laws of this state relating to the acquisition, ownership, expansion, and operation of Arkansas associations and Arkansas savings and loan holding companies.
§ 23-37-811. Registration of association — Reports — Rules
(a) Each Arkansas association, Arkansas savings and loan holding company, southern region association controlling an Arkansas association, and southern region savings and loan holding company controlling an Arkansas association which engages in a transaction which requires approval of the Savings and Loan Association Board [abolished] pursuant to § 23-37-807 shall, within thirty (30) days after […]
§ 23-37-812. Determination of total deposits
For purposes of this subchapter, the total deposits of savings and loan associations within the region shall be determined by reference to the records of the Federal Home Loan Bank Board [abolished], Washington D.C.