(a) As used in this section, the term "public welfare" means developing housing, fostering economic growth and revitalization, creating small businesses, including minority-owned businesses, and supporting other community development initiatives approved by the Bank Commissioner. (b) A state bank may make investments designed primarily to promote the public welfare, either directly or by purchasing interests in an entity primarily engaged in making the investments. (c) A state bank shall not make any investment if the investment would expose the bank to unlimited liability. (d) The commissioner may limit a state bank's investments in any one (1) project and a bank's aggregate investments under this section. (e) In no case shall a state bank's aggregate investments under this section exceed ten percent (10%) of the bank's capital base. Acts 1997, No. 89, § 1. (a) As used in this section, the term "public welfare" means developing housing, fostering economic growth and revitalization, creating small businesses, including minority-owned businesses, and supporting other community development initiatives approved by the Bank Commissioner. (b) A state bank may make investments designed primarily to promote the public welfare, either directly or by purchasing interests in an entity primarily engaged in making the investments. (c) A state bank shall not make any investment if the investment would expose the bank to unlimited liability. (d) The commissioner may limit a state bank's investments in any one (1) project and a bank's aggregate investments under this section. (e) In no case shall a state bank's aggregate investments under this section exceed ten percent (10%) of the bank's capital base. Acts 1997, No. 89, § 1. (a) As used in this section, the term "public welfare" means developing housing, fostering economic growth and revitalization, creating small businesses, including minority-owned businesses, and supporting other community development initiatives approved by the Bank Commissioner. (b) A state bank may make investments designed primarily to promote the public welfare, either directly or by purchasing interests in an entity primarily engaged in making the investments. (c) A state bank shall not make any investment if the investment would expose the bank to unlimited liability. (d) The commissioner may limit a state bank's investments in any one (1) project and a bank's aggregate investments under this section. (e) In no case shall a state bank's aggregate investments under this section exceed ten percent (10%) of the bank's capital base. Acts 1997, No. 89, § 1. (a) As used in this section, the term "public welfare" means developing housing, fostering economic growth and revitalization, creating small businesses, including minority-owned businesses, and supporting other community development initiatives approved by the Bank Commissioner. (b) A state bank may make investments designed primarily to promote the public welfare, either directly or by purchasing interests in an entity primarily engaged in making the investments. (c) A state bank shall not make any investment if the investment would expose the bank to unlimited liability. (d) The commissioner may limit a state bank's investments in any one (1) project and a bank's aggregate investments under this section. (e) In no case shall a state bank's aggregate investments under this section exceed ten percent (10%) of the bank's capital base. Acts 1997, No. 89, § 1.
‹ Prev All Arkansas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.