The State Banking Board, in accordance with Acts 2007, No. 42, promulgates the following rules governing mobile branches:
- (1) A mobile branch only conducts banking business within the same county as the main office or another full-service branch of the bank;
- (2) A mobile branch may not have a single, permanent site;
- (3) A mobile branch may not remain within five (5) miles of any banking location for more than two (2) business days;
- (4) A mobile branch travels to various locations within the county or counties to enable customers to conduct banking business; and
- (5) A mobile branch must maintain a log of operations indicating the date and specific location of each stop.
Codification Notes: This section was promulgated as Section 48-703.2 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. § 23-48-701 and § 23-48-703)"