The initial issuance of shares of a state bank or a bank holding company that has a state bank subsidiary pursuant to the provisions of the articles of incorporation, or any amendment thereto, authorizing the issuance of additional shares must be reported in each instance as and when issued.

Codification Notes: This section was promulgated as Section 48-316.1 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. § 23-48-316)"