As used in this subchapter:(1) 'Converting bank' means a state bank converting to a national bank, a national bank converting to a state bank, or a savings and loan association converting to a state bank;(2) 'Dissenters' rights' means the rights of dissenting stockholders specified in § 23-48-506;(3) 'Interstate merger transaction' means: (A) The merger or consolidation of banks with different home states and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or(B) The purchase of all or substantially all of the assets, including all or substantially all of the branches and the assumption of all or substantially all of the liabilities of a bank whose home state is different from the home state of the acquiring bank;(4) 'Merger' includes consolidation in all sections of this subchapter except § 23-48-509;(5) 'Purchase or assumption' means the purchase by a state bank of over fifty percent (50%) of the assets of another depository institution, or the assumption by a state bank of over fifty percent (50%) of the liabilities of another depository institution;(6) 'Resulting bank' means: (A) One (1) or more banks created epository institution, or the assumption by a state bank of over fifty percent (50%) of the liabilities of another depository institution;(6) 'Resulting bank' means: (A) One (1) or more banks created from a merger or conversion; or(B) The bank purchasing over fifty percent (50%) of the assets or assuming over fifty percent (50%) of the liabilities of another depository institution in a purchase or assumption transaction or an interstate merger transaction; and(7) 'Wholly owned Arkansas bank holding company' means a 'bank holding company', as that term is defined in § 23-45-102, incorporated under the laws of the State of Arkansas, all of the outstanding shares of each class of the capital stock of which are owned by a single individual or entity.Acts 1997, No. 89, § 1; 1997, No. 408, § 12; 2007, No. 170, § 1. As used in this subchapter:(1) 'Converting bank' means a state bank converting to a national bank, a national bank converting to a state bank, or a savings and loan association converting to a state bank;(2) 'Dissenters' rights' means the rights of dissenting stockholders specified in § 23-48-506;(3) 'Interstate merger transaction' means: (A) The merger or consolidation of banks with different home states and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or(B) The purchase of all or substantially all of the assets, including all or substantially all of the branches and the assumption of all or substantially all of the liabilities of a bank whose home state is different from the home state of the acquiring bank;(4) 'Merger' includes consolidation in all sections of this subchapter except § 23-48-509;(5) 'Purchase or assumption' means the purchase by a state bank of over fifty percent (50%) of the assets of another depository institution, or the assumption by a state bank of over fifty percent (50%) of the liabilities of another depository institution;(6) 'Resulting bank' means: (A) One (1) or more banks created epository institution, or the assumption by a state bank of over fifty percent (50%) of the liabilities of another depository institution;(6) 'Resulting bank' means: (A) One (1) or more banks created from a merger or conversion; or(B) The bank purchasing over fifty percent (50%) of the assets or assuming over fifty percent (50%) of the liabilities of another depository institution in a purchase or assumption transaction or an interstate merger transaction; and(7) 'Wholly owned Arkansas bank holding company' means a 'bank holding company', as that term is defined in § 23-45-102, incorporated under the laws of the State of Arkansas, all of the outstanding shares of each class of the capital stock of which are owned by a single individual or entity.Acts 1997, No. 89, § 1; 1997, No. 408, § 12; 2007, No. 170, § 1.
Arkansas Legal Code