# Ark. Code Ann. § 23-51-108: Hearing and decision on charter application > Arkansas · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-108 ## Section - **Citation:** Ark. Code Ann. § 23-51-108 - **Heading:** Hearing and decision on charter application - **Jurisdiction:** Arkansas - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** AR Code / Title 23 / Chapter 51 / Section 23-51-108 ## Text (a) No person shall appear in opposition to the application unless the person shall have filed a written protest to the granting of the application within thirty (30) days of the date of the notice of the filing of the application. The protest must state the grounds for objection and must be accompanied by a filing fee of not less than two thousand dollars ($2,000) nor more than five thousand dollars ($5,000) for each protestant, such amount to be set by rule promulgated by the Bank Commissioner. (b) Once the written report of investigation has been completed, the commissioner shall establish a time for hearing on the charter application. (c) Notice of the time, place, and purpose of the hearing shall be given at least thirty (30) days before the hearing as follows: (1) By letter from the commissioner to the organizers of the proposed state trust company and to each trust institution to which the organizers of the application are required to give written notice pursuant to § 23-51-107(a) ; (2) By letter from the commissioner to each person who has notified the commissioner of an intention to oppose the application, provided that if a group of persons has protested the application, the notice may be given to one (1) member of the group; and (3) By release to news media. (d) If the commissioner sets a hearing, the commissioner shall conduct a public hearing and as many prehearing conferences and opportunities for discovery as the commissioner considers advisable and consistent with applicable law and rules. (e) Based on the record of any hearing conducted pursuant to subsection (d) of this section, the commissioner shall determine whether all of the necessary conditions set forth in § 23-51-106(b) have been established and shall enter an order granting or denying the charter. The commissioner may make approval of any application conditional and shall include any conditions in the order granting the charter. Amended by Act 2019, No. 315,§ 2568, eff. 7/24/2019. Amended by Act 2019, No. 315,§ 2567, eff. 7/24/2019. Acts 1997, No. 940, § 8. (a) No person shall appear in opposition to the application unless the person shall have filed a written protest to the granting of the application within thirty (30) days of the date of the notice of the filing of the application. The protest must state the grounds for objection and must be accompanied by a filing fee of not less than two thousand dollars ($2,000) nor more than five thousand dollars ($5,000) for each protestant, such amount to be set by rule promulgated by the Bank Commissioner. (b) Once the written report of investigation has been completed, the commissioner shall establish a time for hearing on the charter application. (c) Notice of the time, place, and purpose of the hearing shall be given at least thirty (30) days before the hearing as follows: (1) By letter from the commissioner to the organizers of the proposed state trust company and to each trust institution to which the organizers of the application are required to give written notice pursuant to § 23-51-107(a) ; (2) By letter from the commissioner to each person who has notified the commissioner of an intention to oppose the application, provided that if a group of persons has protested the application, the notice may be given to one (1) member of the group; and (3) By release to news media. (1) By letter from the commissioner to the organizers of the proposed state trust company and to each trust institution to which the organizers of the application are required to give written notice pursuant to § 23-51-107(a) ; (2) By letter from the commissioner to each person who has notified the commissioner of an intention to oppose the application, provided that if a group of persons has protested the application, the notice may be given to one (1) member of the group; and (3) By release to news media. ution to which the organizers of the application are required to give written notice pursuant to § 23-51-107(a) ; (2) By letter from the commissioner to each person who has notified the commissioner of an intention to oppose the application, provided that if a group of persons has protested the application, the notice may be given to one (1) member of the group; and (3) By release to news media. (d) If the commissioner sets a hearing, the commissioner shall conduct a public hearing and as many prehearing conferences and opportunities for discovery as the commissioner considers advisable and consistent with applicable law and rules. (e) Based on the record of any hearing conducted pursuant to subsection (d) of this section, the commissioner shall determine whether all of the necessary conditions set forth in § 23-51-106(b) have been established and shall enter an order granting or denying the charter. The commissioner may make approval of any application conditional and shall include any conditions in the order granting the charter. Amended by Act 2019, No. 315,§ 2568, eff. 7/24/2019. Amended by Act 2019, No. 315,§ 2567, eff. 7/24/2019. Acts 1997, No. 940, § 8. ## 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) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AR_T23_C51_S23-51-108. Check the current official text before relying on it. Not legal advice.