§ 23-48-1003 - Effect of certificate of authority. - Arkansas Statutes

23-48-1003. Effect of certificate of authority.

(a) A certificate of authority authorizes the out-of-state bank to which it is issued to transact business in this state subject, however, to the right of the state to revoke the certificate as provided in this chapter.

(b) An out-of-state bank with a valid certificate of authority has the same but no greater rights and has the same but no greater privileges as, and except as otherwise provided by this chapter, is subject to the same duties, restrictions, penalties, and liabilities now or later imposed on, a state bank of like character.

(c) This chapter does not authorize this state to regulate corporate governance matters of an out-of-state bank authorized to transact business in this state.