Arkansas
State Bank Department

Act 42 of 2007

(updated February 1, 2007)

 

Governor Beebe signed SB99 providing parity with national banks in our branch application process on Tuesday, January 30, 2007.  The new Act 42 has an emergency clause, which makes it effective immediately.

          Commissioner Adcock is establishing a temporary moratorium on branch applications.  No branch applications or branch relocation applications will be accepted by the Arkansas State Bank Department pending promulgation of new regulations by the State Banking Board as required under the new act.

          The State Banking Board will meet to consider regulations implementing the act Thursday, March 22, 2007.  If passed, these regulations will become effective Monday, April 2, 2007.  Commissioner Adcock will begin accepting applications under the new law April 2, 2007.

          If you have any questions or comments regarding the new act, please do not hesitate to contact John Ashby, Gregg Qualls, Cara Lank, or Kevin Mosley at 501-324-9019.

 

Comments or questions about the Arkansas State Bank Department?

E-mail us at: asbd@banking.state.ar.us

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