On Mar. 4, ARK LEG enacted bill regarding trust company frameworks.
ARK LEG reported on approval of SB 230 to repeal the Arkansas trust institutions act and create new Arkansas trust institutions act of 2025, ARK FIN 23-51-101, et seq.
Aims to provide a comprehensive and modern framework for trust institutions in ARK, with enhanced provisions for oversight, governance, and operational standards.
Trust Institutions Act
Reorganized and updates laws governing trust companies, restructures existing laws re supervision, enforcement, organization, control, mergers/asset sales, other actions.
Bill also updated provisions for establishing and operating State trust companies.
Clarified rules for out-of-State trust institutions that establish offices in Arkansas.
Expanded guidelines for trust company activities, rules for private trust companies.
Legislative History
On Feb. 13, 2025, bill introduced in Senate; on Feb. 19, 2025, bill passed in Senate.
On Feb. 19, 2025, bill delivered to House; on Mar. 3, 2025, bill was passed in House.
On Mar. 3, 2025, bill was sent to governor; on Mar. 4, 2025, bill became Act 237.
Effectiveness
Act effective 91 days after legislature adjourned sine die (May 5), so Aug. 4, 2025.
Regulators
ARK LEG
Entity Types
Bank; Fiduciary; Thrift
Reference
Act 237, SB230, PR, 3/4/2025; Citation: ARK FIN 23-51-101;
