1. (a) If any state bank shall fail during any period to maintain the reserve required under the Banking Code, the Bank Commissioner may require such bank to pay a penalty computed on the basis of eight percent (8%) per annum on the amount of such deficit for the period that the deficit continues, provided that the commissioner, in his or her discretion, may waive any penalty for a period that is less than twenty-five dollars ($25.00).
2. (b) This penalty shall not prevent the commissioner, under other applicable provisions of the law, from placing a state bank in liquidation due to a violation of reserve requirements.

Codification Notes: This section was promulgated as Section 48-202 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. § 23-48-202)"