HB1484

House Bill 1484 amends Arkansas state law concerning the operation of bank facilities and the emergency powers of the Bank Commissioner. The bill expands the authority of the Bank Commissioner to declare a state of emergency for Arkansas state-chartered bank branches located in other states, provided specific notice requirements are met. Additionally, the bill updates regulations regarding bank holidays and closures. It formalizes the ability of banks to close on one designated business day per week, treating such days as holidays. The bill also establishes a process for banks to request permission from the Bank Commissioner for temporary branch closures due to events beyond their control, limiting such closures to a maximum of three days, with a possible two-day extension upon approval.