# Ark. Code Ann. § 23-51-104: Organization and powers of state trust company

> Arkansas · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-104

## Section

- **Citation:** Ark. Code Ann. § 23-51-104
- **Heading:** Organization and powers of state trust company
- **Jurisdiction:** Arkansas
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** AR Code / Title 23 / Chapter 51 / Section 23-51-104

## Text

(a) Subject to the other provisions of this chapter, one or more persons may organize and charter a state trust company. A state trust company may perform any act as a fiduciary or engage in any trust business within or without this state. (b) Subject to § 23-51-111 , a state trust company may exercise the powers of an Arkansas business corporation reasonably necessary or helpful to enable exercise of its specific powers under this chapter. (c) A state trust company may contribute to community funds, or to charitable, philanthropic, or benevolent instrumentalities conducive to public welfare, amounts that its board considers appropriate and in the interests of the state trust company. (d) Subject to § 23-51-130 , a state trust company may deposit trust funds with itself or an affiliate. (e) Subject to obtaining any required insurance from the Federal Deposit Insurance Corporation (FDIC), a state trust company may receive and pay deposits with or without interest, made by agencies of the United States Government or of a state, county, or municipality. Acts 1997, No. 940, § 4.

(a) Subject to the other provisions of this chapter, one or more persons may organize and charter a state trust company. A state trust company may perform any act as a fiduciary or engage in any trust business within or without this state.

(b) Subject to § 23-51-111 , a state trust company may exercise the powers of an Arkansas business corporation reasonably necessary or helpful to enable exercise of its specific powers under this chapter.

(c) A state trust company may contribute to community funds, or to charitable, philanthropic, or benevolent instrumentalities conducive to public welfare, amounts that its board considers appropriate and in the interests of the state trust company.

(d) Subject to § 23-51-130 , a state trust company may deposit trust funds with itself or an affiliate.

(e) Subject to obtaining any required insurance from the Federal Deposit Insurance Corporation (FDIC), a state trust company may receive and pay deposits with or without interest, made by agencies of the United States Government or of a state, county, or municipality.

Acts 1997, No. 940, § 4.

## Nearby sections

- [Ark. Code Ann. § 23-51-101 Title](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-101.md)
- [Ark. Code Ann. § 23-51-102 Certain definitions](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-102.md)
- [Ark. Code Ann. § 23-51-103 Rules](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-103.md)
- [Ark. Code Ann. § 23-51-104 Organization and powers of state trust company](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-104.md)
- [Ark. Code Ann. § 23-51-105 Articles of association of state trust company](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-105.md)
- [Ark. Code Ann. § 23-51-106 Application for state trust company charter](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-106.md)
- [Ark. Code Ann. § 23-51-107 Notice and investigation of charter application](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-107.md)
- [Ark. Code Ann. § 23-51-108 Hearing and decision on charter application](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-108.md)
- [Ark. Code Ann. § 23-51-109 Issuance of charter](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-109.md)
- [Ark. Code Ann. § 23-51-110 Required capital](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-110.md)
- [Ark. Code Ann. § 23-51-111 Application of laws relating to general business corporations](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-111.md)
- [Ark. Code Ann. § 23-51-112 Commissioner hearings - Appeals](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-112.md)
- [Ark. Code Ann. § 23-51-113 Trust companies chartered under prior law](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-113.md)
- [Ark. Code Ann. § 23-51-114 Amendment of state trust company articles of association](https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-114.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-104. Check the current official text before relying on it. Not legal advice.