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Section 23-37-507 - Damages for refusal to pay withdrawal request — Arkansas Law | CourtGPT
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  3. Arkansas/
  4. Title 23 - Public Utilities and Regulated Industries (§§ 23-1-101 — 23-119-105)/
  5. Subtitle 2 - Financial Institutions and Securities/
  6. Chapter 37 - Savings and Loan Associations Sub/
  7. Subchapter 5 - Savings Accounts/
  8. Section 23-37-507 - Damages for refusal to pay withdrawal request
Arkansas Legal Code

Section 23-37-507 - Damages for refusal to pay withdrawal request

In the event an association wrongfully and without legal right refuses to pay a withdrawal request for a savings account, the owner of the savings account shall be entitled to recover damages from the association equal to interest at the legal rate prescribed by the laws of this state from the date the withdrawal request was refused. The owner shall not be entitled to recover from the association any special damages of whatever kind or nature.Acts 1963, No. 227, § 46; A.S.A. 1947, § 67-1846.

In the event an association wrongfully and without legal right refuses to pay a withdrawal request for a savings account, the owner of the savings account shall be entitled to recover damages from the association equal to interest at the legal rate prescribed by the laws of this state from the date the withdrawal request was refused. The owner shall not be entitled to recover from the association any special damages of whatever kind or nature.Acts 1963, No. 227, § 46; A.S.A. 1947, § 67-1846.
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