(a)(1) A state bank shall have: (A) A president or chief executive officer, or both;(B) A secretary; and(C) Any other officers as the directors may from time to time designate.(2) An individual may hold more than one (1) office.(b) The officers shall hold their offices for a term of one (1) year or until successors are elected unless sooner removed by the board of directors.(c) The board shall require bonds of the officers as it shall deem proper and necessary to protect the funds of the state bank.Amended by Act 2017, No. 198,§ 8, eff. 8/1/2017.Acts 1997, No. 89, § 1.
Arkansas Legal Code