Ark. Code § 23-37-305
Current with legislation from 2024 Fiscal and Special Sessions.
As a prerequisite to approval of any application for a proposed permanent stock association, the incorporators must show, to the satisfaction of the Savings and Loan Association Board [abolished], subscribed savings accounts from individuals in the aggregate number and amount which, in the opinion of the board, will justify the initial successful operation of the association.
Ark. Code § 23-37-305