§ 23-37-305 - Permanent stock associations -- Initial subscriptions to savings accounts. - Arkansas Statutes

23-37-305. Permanent stock associations -- Initial subscriptions to savings accounts.

As a prerequisite to approval of any application for a proposed permanent stock association, the incorporators must show, to the satisfaction of the board, subscribed savings accounts from individuals in the aggregate number and amount which, in the opinion of the board, will justify the initial successful operation of the association.