Agency # 210.00 ARKANSAS STATE BANK DEPARTMENT Rules Updated: September 25, 2019 September 25, 2019 Agency # 210.00 ARKANSAS STATE BANKING BOARD Position Classification Entitled Incumbent Term Number of Position to Nominate Expires 1 Bank Dept. Bank Todd 12-31-2019 Member Commissioner Smith 2 Arkansas Bankers Randy 12-31-2020 Bankers Association Scott Association Member 3 Arkansas Bankers Scott 12-31-2023 Bankers Association Miller Association Member 4 Public Governor Ronald 12-31-2018 Member Mobley 5 Public Governor David 12-31-2021 Member Leech 6 Public Governor Lana 12-31-2018 Member Hampton i September 1, 2005 Agency # 210.00 LEGAL HOLIDAYS The following are legal holidays for all purposes: New Year's Day--January 1; Robert E. Lee's Birthday--Third Monday in January; Martin Luther King's Birthday--Third Monday in January; George Washington's Birthday--Third Monday in February; Memorial Day--the last Monday in May; Independence Day--July 4; Labor Day--First Monday in September; Veteran's Day--November 11; Thanksgiving Day--Fourth Thursday in November; Christmas Eve--December 24; Christmas Day--December 25. Pursuant to A.C.A. § 1-5-101 it is provided that holidays falling on Saturday will be observed on the preceding Friday and holidays falling on a Sunday will be observed the succeeding Monday. ii November 2, 2015 Agency # 210.00 ******************************************************************************* The Arkansas Code of 1987, as amended (including the Arkansas Banking Code A.C.A. § 23-45-101 through A.C.A. § 23-50-110) is accessed Online at www.arkleg.state.ar.us ******************************************************************************* TABLE OF CONTENTS ARKANSAS STATE BANK DEPARTMENT www.banking.arkansas.gov STATE BANK DEPARTMENT-GENERAL PROVISIONS RULES AND REGULATIONS Request for documents ........................................................................................................1.1 Fees for copies provided pursuant to request ......................................................................1.1 Confidential or non-confidential status of Bank Department records ................................1.1 Legal holidays; Applicable law ..........................................................................................1.2 Certified copies and certificates of good standing fees ......................................................1.2 Interest in state banks; Participation in ...............................................................................1.3 PROCEEDINGS BEFORE THE BOARD AND COMMISSIONER Applications ........................................................................................................................1.3 Applications. Facsimile.......................................................................................................1.3 Meetings of the Board; Regular meeting dates ...................................................................1.3 Publication requirements (applications before Board) .......................................................1.4 Application filing fees (filed with Board) ...........................................................................1.4 Application filing fees(not filed with Board) ......................................................................1.4 Hearings. Filing fees for written/official protests ...............................................................1.5 Adjudicative Hearings ........................................................................................................1.5 Rehearing modifications .....................................................................................................1.7 Assessment Fees .................................................................................................................1.7 Retention of Records ...........................................................................................................1.8 Appeal of Commissioner decision on minimum capital requirements to Board ................1.11 GENERAL POWERS OF BANKS Warehousing mortgages and other loans ............................................................................2.1 Table 1 November 2, 2015 Agency # 210.00 Incidental powers ................................................................................................................2.1 Gift Cards ............................................................................................................................2.1 Wild card statute .................................................................................................................2.4 Disposition of income from sale of credit life insurance or debt cancellation contracts ....2.4 Guaranties ...........................................................................................................................2.5 Computer services of bank or operating subsidiary ............................................................2.6 Messenger service ...............................................................................................................2.6 Power to borrow ..................................................................................................................2.6 Charter Amendment Application for Change of Bank Corporate Name ............................2.7 Reservation of Bank Corporate Name ................................................................................2.7 Capital notes........................................................................................................................2.8 Federal regulations ..............................................................................................................2.8 DEPOSITS Pay on Death Deposit Accounts .........................................................................................3.1 INVESTMENTS Investment, corporate debt obligation.................................................................................4.1 Permissible exceptions. Common stock. Trust preferred securities ...................................4.1 Investment--Consumer paper ..............................................................................................4.2 Revenue obligations ............................................................................................................4.2 Trading account ..................................................................................................................4.3 State Banking Board requirements .....................................................................................4.3 Bank service companies ......................................................................................................4.5 Limitation on investment ....................................................................................................4.5 LOAN LIMITS Certificates of reliance--Endorsed or guaranteed obligations .............................................5.1 Combining loans to parent corporation and subsidiary; loans to separate subsidiaries ......5.1 Total Indebtedness ..............................................................................................................5.1 Drafts or bills of exchange ..................................................................................................5.2 Obligations drawn against existing values ..........................................................................5.2 Obligations secured by certain transferable documents of title ..........................................5.2 Obligations guaranteed by Farm Service Agency ..............................................................5.2 Loans secured by certificate of deposit ...............................................................................5.3 Loan commitments and standby letters of credit ................................................................5.3 TRUST POWERS Activities not requiring trust powers...................................................................................7.1 Federal Deposit Insurance Corporation and Federal Reserve approval ..............................7.1 Title to trust securities in name of nominee ........................................................................7.1 Common trust fund .............................................................................................................7.1 Individual retirement account .............................................................................................7.2 Table 2 November 2, 2015 Agency # 210.00 Keogh plan ..........................................................................................................................7.2 Trust deposits awaiting investment .....................................................................................7.2 Bank as trustee; voting of own shares.................................................................................7.3 Trust policies .......................................................................................................................7.3 FIDUCIARY POWERS OF STATE BANKS Fiduciary powers of state banks and collective investment funds ......................................7.4 Definitions...........................................................................................................................7.4 Account ...............................................................................................................................7.4 Custodian under Uniform Gifts to Minors Act ...................................................................7.4