Statutes > Arkansas Statutes > Title 23 - Public Utilities and Regulated Industries > Subtitle 2 - Financial Institutions And Securities > Chapter 48 - Organization and Operation > Subchapter 6 - Reorganization Through Plan of Exchange > § 23-48-605 - State bank and holding company to remain separate -- Nonliability of directors, officers, etc.

§ 23-48-605 - State bank and holding company to remain separate -- Nonliability of directors, officers, etc.

23-48-605. State bank and holding company to remain separate -- Nonliability of directors, officers, etc.

The state bank and the bank holding company shall remain separate and distinct entities in all respects, with neither entity having any liability to the creditors or depositors, if any, or the stockholders of the other, or for any acts or omissions of the officers, directors, stockholders, or representatives of the other, other than obligations which may be expressly provided for in the plan of exchange.