§ 23-48-1001 - Application for certificate of authority. - Arkansas Statutes

23-48-1001. Application for certificate of authority.

(a) On or before the consummation of an interstate merger transaction in which the resulting bank is an out-of-state bank which will operate branches in this state, the resulting bank shall apply for a certificate of authority to transact banking business in this state by delivering an application to the Bank Commissioner for filing. The application must set forth:

(1) The name of the bank;

(2) The name of the state or country under whose law it is chartered;

(3) Its date of formation and period of duration;

(4) The street address of its principal office;

(5) The address of its registered office in this state and the name of its registered agent at that office; and

(6) The number and par value, if any, of shares of the bank's capital stock owned or to be owned by residents of this state.

(b) The bank shall deliver with the completed application a certificate of existence, or a document of similar import, duly authenticated by the bank supervisory agency which chartered the bank or other official having custody of the corporate records of banking institutions in the state or country under whose law it is chartered.