§ 23-37-207 - Supervisor's powers and duties generally. - Arkansas Statutes

23-37-207. Supervisor's powers and duties generally.

(a) The Supervisor of Savings and Loan Associations shall have general supervision of associations doing business in this state and shall be charged with the execution of the laws of this state relating to those associations.

(b) In order to fulfill his responsibilities, the supervisor shall have the following powers, duties, limitations, and functions:

(1) He shall have all the rights, powers, and privileges heretofore vested in the Savings and Loan Association Board and be subject to all duties to which the Savings and Loan Association Board was heretofore subject;

(2) He shall, in such coordination with the Federal Home Loan Bank Board, the Federal Deposit Insurance Corporation, and other federal and state regulatory authorities as he deems appropriate, provide for the orderly examination and supervision of associations regulated by this chapter. All federal records, documents, and examinations received by the supervisor are not public unless released by the appropriate federal agency; and

(3) He, or any designated assistant, shall hear all applications for charters for new associations, all protested applications for new branches, those matters concerning a protested move of the home office or a branch office, any conversion application by an association, and all other administrative matters under this chapter. Administrative decisions of the supervisor are subject to appeal as set forth in 23-37-214.

(c) (1) The supervisor, after public hearing, notice of which has been given to every association in the state, shall have power and authority to issue rules and regulations governing the operation of associations in a manner consistent with this chapter and other applicable Arkansas laws. In addition, he shall have the power to make and promulgate any forms which are necessary for the administration of this chapter.

(2) These rules and regulations may from time to time be amended, modified, or repealed by the board and shall have uniform application to all associations subject to the provisions of this chapter.

(d) Any person affected or who may be affected by an action of the supervisor shall be given the opportunity of appearing and presenting evidence before the supervisor.