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Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-46-508. Noncooperation with examiners--Revocation of authority to transact business

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) The Bank Commissioner may revoke a state bank's or subsidiary trust company's authority to transact business and may proceed to wind up its business whenever any officer of the state bank or subsidiary trust company:

(1) Refuses to submit the books, papers, and effects thereof to the inspection of the commissioner or examiners;

(2) In any manner obstructs or interferes with the commissioner, or examiner, in the discharge of his or her duties; or

(3) Refuses to be examined on oath touching the affairs of the financial institution.

(b) The commissioner may issue a cease and desist order whenever an officer of any financial institution acts in any manner described in subsections (a)(1)-(3) of this section.

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Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-46-508. Noncooperation with examiners--Revocation of authority to transact business - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-46-508/

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