AR SB208

Amends Arkansas Code Title 23, Chapter 46 to create the "Examination of Technology Service Providers Act" authorizing the Bank Commissioner to examine technology service providers that supply covered services to state depository institutions.

Defines "covered service" as services designed and marketed for depository institutions including data processing, lending support, funds transfer, fiduciary activities, internet-related services, web services, mobile applications, and electronic bill payment systems.

Establishes that technology service providers performing covered services for depository institutions are subject to examination by the Bank Commissioner to the same extent as if the depository institution performed the services itself.

Authorizes the Bank Commissioner to enter into agreements with other bank supervisory agencies for joint examinations, joint enforcement actions, and to accept examinations conducted by other agencies as substitutions for state examinations.

Declares an emergency due to unknown risks created by banks' increasing reliance on third-party technology providers, stating the act is immediately necessary for financial system stability and public safety; effective upon Governor's approval or expiration of veto period.