1. (a)

   1. (1) A state bank’s expedited, standard, or mobile branch application (on separate forms required by the Bank Commissioner) for authority to establish a new branch shall be filed with the commissioner.
   2. (2) The following rules govern the procedure on such applications.

2. (b) Expedited, standard, and mobile branch applications.

   1. (1) Expedited application.

      1. (A) To file an expedited application, a bank must meet the criteria of a healthy bank as set forth by this part.
      2. (B) The application will be processed within sixty (60) days of filing with the commissioner.
   2. (2) Standard application. An application not filed as an expedited application will be filed as a standard application.
   3. (3) Mobile application. A separate application must be filed with the commissioner for each separate county the state bank proposed to operate the mobile branch.

3. (c) Fees.

   1. (1)

      1. (A) The sponsor or sponsors of an expedited branch application are required to pay a filing fee of three hundred dollars ($300) as set by this part.
      2. (B) This fee must accompany the filing of the application.
      3. (C) The commissioner at his or her discretion may or may not require a field investigation of a branch application.

   2. (2)

      1. (A) The sponsor or sponsors of a standard branch application are required to pay a filing fee of five hundred dollars ($500) as set by this part.
      2. (B) This fee must accompany the filing of the application.
      3. (C) The commissioner at his or her discretion may or may not require a field investigation of a branch application.

   3. (3)

      1. (A) The sponsor or sponsors of a mobile branch application are required to pay a filing fee of three hundred dollars ($300) as set by this part.
      2. (B) This fee must accompany the filing of the application.
      3. (C) The commissioner at his or her discretion may or may not require a field investigation of an application.

4. (d) Notice published by applicant.

   1. (1) The applicant, for either an expedited, standard, or mobile branch application, shall publish notice of the application in a newspaper of statewide circulation one (1) time per week for four (4) consecutive weeks prior to filing the application with the commissioner.
   2. (2) The application may not be filed with the commissioner less than thirty (30) days from the date of the first publication, and not later than twenty (20) days after the fourth and final publication.
   3. (3) A proof of publication must be submitted to the commissioner.

5. (e) Notice by commissioner.

   1. (1) The commissioner shall give notice of the application to Arkansas state-chartered banks with a bank or a full-service branch currently open and operating within the market area of the proposed new branch.

   2. (2) As set by this part, the following shall apply:

      1. (A)

6. (i) All state-chartered banks are required to file with the commissioner a designated officer (not to be confused with the designated agent for service of process) and email address for which service can be made on that bank for the purpose of giving notice of an expedited, standard, or mobile branch application for a new branch.

   1. (ii) All state-chartered banks are required to file at least one (1) designated officer, and may file up to three (3), with the commissioner.

      1. (iii) This must be filed with the commissioner by state-chartered banks currently open and operating within the State of Arkansas no later than March 26, 2007.

         1. (iv) All new state-chartered banks open and operating after March 26, 2007, must file a designated officer and email address with the commissioner not more than thirty (30) days from the day of opening the new state-chartered bank.
         2. (v) Failure to file this information with the commissioner will constitute a waiver of notice in regards to expedited, standard, or mobile branch applications.
         3. (vi) Failure to file a change of designated officer and email address with the commissioner will also constitute a waiver of notice in regards to expedited, standard, or mobile branch applications;
      2. (B) The State Banking Board defines “market area” as within the county where the applicant proposes to open the new branch;

      3. (C)

         1. (i) “Open and operating” is determined by checking the Federal Deposit Insurance Corporation database.
         2. (ii) Those banks having a main banking office or a branch office or offices actually open and operating as of the date of the actual filing of an application, as reflected by the Federal Deposit Insurance Corporation database, in the proposed market area will receive notice from the commissioner;

      4. (D)

         1. (i) The commissioner will email the banks a notice of the filing of the expedited, standard, or mobile branch application.
         2. (ii) This email will constitute as notice to the Arkansas state-chartered banks currently open and operating within the market area of the proposed new branch;

      5. (E)

         1. (i) The commissioner will send notice to banks entitled to notice under this subsection not more than two (2) business days from the filing of the application.
         2. (ii) The notice will include the date the application was filed; and
      6. (F) An application for an expedited, standard, or mobile branch is considered filed on the date stamped as filed by the commissioner.
7. (f) Expiration of approval. The commissioner’s order approving a branch application shall expire eighteen (18) months from the date of approval unless a request for extension has been approved in writing by the commissioner.

Codification Notes: This section was promulgated as Section 48-703.1 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. § 23-48-703)"