§ 23-51-152 - Approval of commissioner. - Arkansas Statutes

23-51-152. Approval of commissioner.

(a) If the Bank Commissioner approves the merger and finds that all required filing fees and investigative costs have been paid, the commissioner shall:

(1) Endorse the face of the original and each copy with the date of approval and the word "Approved";

(2) File the original in the State Bank Department's records; and

(3) Deliver a certified copy of the articles of merger to each surviving, new, or acquiring entity.

(b) A merger is effective on the date of approval, unless the merger agreement provides and the commissioner consents to a different effective date.