The state bank and the bank holding company shall remain separate and distinct entities in all respects, with neither entity having any liability to the creditors or depositors, if any, or the stockholders of the other, or for any acts or omissions of the officers, directors, stockholders, or representatives of the other, other than obligations which may be expressly provided for in the plan of exchange.
Ark. Code Ann. § 23-48-605
State bank and holding company to remain separate — Nonliability of directors, officers, etc
Acts 1997, No. 89, § 1; 1999, No. 117, § 3.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.