(a) As used in this section, the term 'public welfare' means developing housing, fostering economic growth and revitalization, creating small businesses, including minority-owned businesses, and supporting other community development initiatives approved by the Bank Commissioner.(b) A state bank may make investments designed primarily to promote the public welfare, either directly or by purchasing interests in an entity primarily engaged in making the investments.(c) A state bank shall not make any investment if the investment would expose the bank to unlimited liability.(d) The commissioner may limit a state bank's investments in any one (1) project and a bank's aggregate investments under this section.(e) In no case shall a state bank's aggregate investments under this section exceed ten percent (10%) of the bank's capital base.Acts 1997, No. 89, § 1.
Arkansas Legal Code