Reporting to the State Bank Commissioner
Pursuant to Arkansas Banking Code of 1997, as amended, Section 23-48-316(b), all stock transfers of a bank holding company are to be reported to the Bank Commissioner. Prior approval of the Bank Commissioner is required in certain situations, which are described in Section 23-48-317(b). New stock issues are to also be reported to the Bank Commissioner in order for information in your corporate file with the department to be kept current with the number of shares issued by your holding company (refer to Section 48-316.1 on page R8.4). Holding companies with treasury stock should complete the “number of treasury shares” line on the bottom of each stock transfer certificate.
Certain information is to be submitted to the Bank Commissioner in order to complete the holding company’s corporate file. This information includes:
- Articles of Incorporation and any future amendments thereto (certified copy of the documents filed with Secretary of State).
- Stockholders’ List (submitted on an annual basis).
- Board of Directors’ List and Oath of Directors (annually).
Federal Reserve System Reports and other correspondence remitted to the Federal Reserve should also be copied to the Bank Commissioner.