# Ark. Code Ann. § 23-45-103: Effect on existing financial institutions

> Arkansas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C45_S23-45-103

## Section

- **Citation:** Ark. Code Ann. § 23-45-103
- **Heading:** Effect on existing financial institutions
- **Jurisdiction:** Arkansas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AR Code / Title 23 / Chapter 45 / Section 23-45-103

## Text

(a) The charters of state banks existing at the time of the adoption of the Arkansas Banking Code of 1997 shall continue in full force and effect, and all financial institutions and, to the extent applicable, all national banks and national trust companies, shall hereafter be operated in accordance with the provisions of the Arkansas Banking Code of 1997, and other applicable law. (b) Except as otherwise provided in the Arkansas Banking Code of 1997, the repeal of any provision of chapters 30-34 of this title at the time of adoption of the Arkansas Banking Code of 1997 shall not affect any right accrued or established, or any liability or penalty incurred, under such provision, prior to the repeal thereof. (c) All powers granted in the Arkansas Banking Code of 1997 may be freely exercised by any financial institution to which such powers apply without the necessity of amending its articles of incorporation, unless such articles expressly prohibit the exercise of such powers. Acts 1997, No. 89, § 1.

(a) The charters of state banks existing at the time of the adoption of the Arkansas Banking Code of 1997 shall continue in full force and effect, and all financial institutions and, to the extent applicable, all national banks and national trust companies, shall hereafter be operated in accordance with the provisions of the Arkansas Banking Code of 1997, and other applicable law.

(b) Except as otherwise provided in the Arkansas Banking Code of 1997, the repeal of any provision of chapters 30-34 of this title at the time of adoption of the Arkansas Banking Code of 1997 shall not affect any right accrued or established, or any liability or penalty incurred, under such provision, prior to the repeal thereof.

(c) All powers granted in the Arkansas Banking Code of 1997 may be freely exercised by any financial institution to which such powers apply without the necessity of amending its articles of incorporation, unless such articles expressly prohibit the exercise of such powers.

Acts 1997, No. 89, § 1.

## Nearby sections

- [Ark. Code Ann. § 23-45-101 Short title](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C45_S23-45-101.md)
- [Ark. Code Ann. § 23-45-102 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C45_S23-45-102.md)
- [Ark. Code Ann. § 23-45-103 Effect on existing financial institutions](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C45_S23-45-103.md)
- [Ark. Code Ann. § 23-45-104 Unauthorized activity as a financial institution - Incorporation of industrial loan institutions prohibited - Individuals and partnerships not to transact general commercial banking business](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C45_S23-45-104.md)
- [Ark. Code Ann. § 23-45-105 Headings](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C45_S23-45-105.md)
- [Ark. Code Ann. § 23-45-106 Rules of construction](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C45_S23-45-106.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C45_S23-45-103. Check the current official text before relying on it. Not legal advice.