Opinion No.

The Honorable Bill J. Ford Bank Commissioner Arkansas State Bank Department 323 Center Street, Suite 500 Little Rock, Arkansas 72201-2613

Dear Mr. Ford:

This is in response to your request for an opinion on:

Whether a national bank which has relocated its bank charter to the State of Texas from Arkansas and is now operating as a Texas national banking association, yet has retained two branch offices in Arkansas, is eligible to receive deposits of Arkansas public funds in accordance with A.C.A. § 19-8-101 to -107.

Arkansas Code Annotated § 19-8-104(a) (as amended by Act 770 of 1995) provides that…