State Codes and Statutes
Statutes > Arkansas > Title-23 > Subtitle-2 > Chapter-51 > 23-51-12423-51-124. Transactions in state trust company shares.
(a) A state trust company may acquire its own shares if:
(1) The amount of its undivided profits is sufficient to fully absorb the acquisition of the shares under regulatory accounting principles; and
(2) The state trust company obtains the prior written approval of the Bank Commissioner.
(b) A state trust company shall not make loans upon the security of its own shares.
