Arkansas Code Title 15. Natural Resources and Economic Development § 15-4-1217. Authority of other corporations and financial institutions

(1) All domestic corporations, including nonprofit corporations and associations, organized for the purpose of carrying on business within this state, including, without implied limitation, any public utility, and all trusts, are authorized to acquire, purchase, hold, sell, assign, transfer, mortgage, pledge, or otherwise dispose of any bonds, notes, securities, or other evidences of indebtedness created pursuant to this subchapter or the shares of the common stock or the units of interest of a company organized under this subchapter and, while owners of the stock or units of interest, to exercise all the rights, powers, and privileges of ownership, including the right to vote thereon, all without the approval of any regulatory authority of the state;

(2) All financial institutions are authorized to become members of the company and to make loans to the company as provided in this subchapter;

(3) A financial institution which does not become a member of the company shall not be permitted to acquire any shares of the common stock or units of interest of the company; and