§ 23-37-803 - Penalties and remedies. - Arkansas Statutes

23-37-803. Penalties and remedies.

(a) In the event any association or savings and loan holding company consummates an acquisition that is prohibited by this subchapter, the board shall require the association or savings and loan holding company to divest itself within two (2) years of its direct or indirect ownership or control of all Arkansas associations or Arkansas savings and loan holding companies.

(b) The board shall have the power to enforce the prohibitions contained in these sections through the imposition of fines and penalties, the issuance of cease and desist orders, and such other remedies as are provided by law.