Any bank, building and loan, savings and loan, or any other savings institution chartered and supervised as a savings and loan or similar associations under federal or state law shall be allowed a bad debt expense deduction computed in accordance with 26 U.S.C. §§ 582, 585, and 593, as in effect on January 1, 1999.
Ark. Code Ann. § 26-51-426
Deductions — Reserve for bad debts or liabilities
Acts 1929, No. 118, Art. 3, § 13; Pope's Dig., § 14036; Acts 1957, No. 147, § 1; A.S.A. 1947, § 84-2016; Acts 1993, No. 785, § 9; 1997, No. 951, § 15; 1999, No. 1126, § 32.
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.