1. (a) A nonmember insured bank may not adopt trust powers without Federal Deposit Insurance Corporation approval.
2. (b) A state member bank must obtain Federal Reserve approval.

Codification Notes: This section was promulgated as Section 47-701.2 of the State Bank Department Rules prior to codification into the Code of Arkansas Rules. This section as promulgated prior to codification into the Code of Arkansas Rules provided as follows: "(Reference A.C.A. § 23-47-701)"