AR SB210

Amends Arkansas Code § 23-48-317 to add new subsections (f) and (g) governing changes in control at state banks and Arkansas bank holding companies

Allows the commissioner to waive change in control requirements when a change in control occurs simultaneously with a proposed merger transaction under § 23-48-503(a) and a transferee submits a merger application to appropriate regulatory agencies

Specifies that merger applications must be submitted to the commissioner and federal bank supervisory agency for state banks, the home-state regulator and federal supervisory agency for out-of-state banks, or the United States Office of the Comptroller of the Currency for national banks

Provides that a plan of exchange approved by the commissioner under § 23-48-601 does not satisfy change in control requirements unless executed by an existing bank holding company of the subject state bank

Bill approved February 17, 2017