Arkansas Trust Institutions Act
Arkansas · Public Utilities and Regulated Industries · §§ 23-51-101 to 23-51-200 · 100 sections
Overview
The act governs the chartering, organization, and ongoing supervision of trust companies formed under state law. It establishes the procedure for obtaining a charter — application, notice and investigation, a hearing, and issuance by the commissioner — together with requirements for articles of association, minimum capital, share and surplus structure, and later amendments, and it recognizes a separate category of private trust company with its own requirements and a route to convert to public status. It also constrains how a chartered trust company may operate, addressing permitted investments, real estate, securities and subsidiaries, common investment funds, lending and borrowing limits, and a bar on engaging in general commerce, while requiring regulatory review of any acquisition of control and providing for hearings, appeals, and civil and criminal enforcement.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
In the courts
Sections of this act have been cited in 1 court decision.
Most-cited authority: 2025 ARKAPP 348 - Caroline Lasiter v. Newland & Associates, Pllc
Sections covered
- Ark. Code Ann. § 23-51-101Title
- Ark. Code Ann. § 23-51-102Certain definitions
- Ark. Code Ann. § 23-51-103Rules
- Ark. Code Ann. § 23-51-104Organization and powers of state trust company
- Ark. Code Ann. § 23-51-105Articles of association of state trust company
- Ark. Code Ann. § 23-51-106Application for state trust company charter
- Ark. Code Ann. § 23-51-107Notice and investigation of charter application
- Ark. Code Ann. § 23-51-108Hearing and decision on charter application
- Ark. Code Ann. § 23-51-109Issuance of charter
- Ark. Code Ann. § 23-51-110Required capital
- Ark. Code Ann. § 23-51-111Application of laws relating to general business corporations
- Ark. Code Ann. § 23-51-112Commissioner hearings — Appeals
- Ark. Code Ann. § 23-51-113Trust companies chartered under prior law
- Ark. Code Ann. § 23-51-114Amendment of state trust company articles of association
- Ark. Code Ann. § 23-51-115Establishing a series of shares
- Ark. Code Ann. § 23-51-116Change in outstanding capital and surplus
- Ark. Code Ann. § 23-51-117Capital notes or debentures
- Ark. Code Ann. § 23-51-118Private trust company
- Ark. Code Ann. § 23-51-119Requirements for a private trust company
- Ark. Code Ann. § 23-51-120Conversion to public trust company
- Ark. Code Ann. § 23-51-121Investment in state trust company facilities — Definition
- Ark. Code Ann. § 23-51-122Other real estate
- Ark. Code Ann. § 23-51-123Securities
- Ark. Code Ann. § 23-51-124Transactions in state trust company shares
- Ark. Code Ann. § 23-51-125Subsidiaries
- Ark. Code Ann. § 23-51-126Mutual funds
- Ark. Code Ann. § 23-51-127Engaging in commerce prohibited
- Ark. Code Ann. § 23-51-128Lending limits
- Ark. Code Ann. § 23-51-129Lease financing transactions
- Ark. Code Ann. § 23-51-130Trust deposit
- Ark. Code Ann. § 23-51-131Common investment funds
- Ark. Code Ann. § 23-51-132Borrowing limit
- Ark. Code Ann. § 23-51-133Pledge of assets
- Ark. Code Ann. § 23-51-134Acquisition of control
- Ark. Code Ann. § 23-51-135Application regarding acquisition of control
- Ark. Code Ann. § 23-51-136Hearing and decision on acquisition of control
- Ark. Code Ann. § 23-51-137Appeal from adverse decision
- Ark. Code Ann. § 23-51-138Objection to other transfer
- Ark. Code Ann. § 23-51-139Civil enforcement — Criminal penalties
- Ark. Code Ann. § 23-51-140Voting securities held by state trust company
- Ark. Code Ann. § 23-51-141Bylaws
- Ark. Code Ann. § 23-51-142Board of directors
- Ark. Code Ann. § 23-51-143Officers
- Ark. Code Ann. § 23-51-144Certain criminal offenses
- Ark. Code Ann. § 23-51-145Transactions with management and affiliates
- Ark. Code Ann. § 23-51-146Fiduciary responsibility
- Ark. Code Ann. § 23-51-147Recordkeeping
- Ark. Code Ann. § 23-51-148Bonding requirements
- Ark. Code Ann. § 23-51-149Reports of apparent crime
- Ark. Code Ann. § 23-51-150Merger authority
- Ark. Code Ann. § 23-51-151Merger application
- Ark. Code Ann. § 23-51-152Approval of commissioner
- Ark. Code Ann. § 23-51-153Rights of dissenters to mergers
- Ark. Code Ann. § 23-51-154Authority to purchase assets of another trust institution
- Ark. Code Ann. § 23-51-155Sale of assets
- Ark. Code Ann. § 23-51-156Required vote of shareholders
- Ark. Code Ann. § 23-51-157Corporate procedure
- Ark. Code Ann. § 23-51-158Authority to liquidate — Publication
- Ark. Code Ann. § 23-51-159Examination and reports
- Ark. Code Ann. § 23-51-160Unclaimed property
- Ark. Code Ann. § 23-51-161Sale or transfer of property
- Ark. Code Ann. § 23-51-162When commissioner may take charge
- Ark. Code Ann. § 23-51-163Directors may act
- Ark. Code Ann. § 23-51-164Application of Arkansas Banking Code of 1997
- Ark. Code Ann. § 23-51-165Companies authorized to act as fiduciaries1 cite
- Ark. Code Ann. § 23-51-166Activities not requiring a charter, etc
- Ark. Code Ann. § 23-51-167Trust business of state trust institution
- Ark. Code Ann. § 23-51-168Trust business of out-of-state trust institution
- Ark. Code Ann. § 23-51-169Name of trust institution
- Ark. Code Ann. § 23-51-170Trust business
- Ark. Code Ann. § 23-51-171Branches and offices of state trust institutions
- Ark. Code Ann. § 23-51-172State trust company principal office
- Ark. Code Ann. § 23-51-173Trust office
- Ark. Code Ann. § 23-51-174Out-of-state offices
- Ark. Code Ann. § 23-51-175Trust business at a branch or trust office
- Ark. Code Ann. § 23-51-176Establishing an interstate trust office
- Ark. Code Ann. § 23-51-177Acquiring an interstate trust office
- Ark. Code Ann. § 23-51-178Requirement of notice
- Ark. Code Ann. § 23-51-179Conditions for approval
- Ark. Code Ann. § 23-51-180Additional trust offices
- Ark. Code Ann. § 23-51-181Examinations — Periodic reports — Cooperative agreements — Assessment of fees
- Ark. Code Ann. § 23-51-182Enforcement
- Ark. Code Ann. § 23-51-183Notice of subsequent merger, closing, etc
- Ark. Code Ann. § 23-51-184Commissioner shall supervise and examine authorized trust institutions
- Ark. Code Ann. § 23-51-185Examinations — Assessments
- Ark. Code Ann. § 23-51-186Statements of condition and income
- Ark. Code Ann. § 23-51-187Confidential records
- Ark. Code Ann. § 23-51-188Administrative orders — Penalties for violation
- Ark. Code Ann. § 23-51-189Notice and opportunity for hearing
- Ark. Code Ann. § 23-51-190Subpoena power and examination under oath
- Ark. Code Ann. § 23-51-191Removal of directors, officers, and employees
- Ark. Code Ann. § 23-51-192Delegation and fiduciary responsibility
- Ark. Code Ann. § 23-51-193Affiliates
- Ark. Code Ann. § 23-51-194Fee determination
- Ark. Code Ann. § 23-51-195Disclosure of potential conflicts of interest
- Ark. Code Ann. § 23-51-196Interests in trust institutions prohibited
- Ark. Code Ann. § 23-51-197Designation of trustee
- Ark. Code Ann. § 23-51-198Choice of law governing trusts
- Ark. Code Ann. § 23-51-199Choice of law governing fiduciary investments
- Ark. Code Ann. § 23-51-200— 23-51-211. [Repealed.]
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