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April 2, 2018
The old saying of “your wish is my command” is often employed when one party’s wish for something to happen becomes another’s command to action to make it happen.
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February 2, 2018
On Dec. 7, 2017, in a case styled as Tilley v. Malvern Nat’l Bank, 2017 Ark. 343, the Arkansas Supreme Court ruled that certain contractual provisions providing for the waiver of a jury trial are unenforceable. The Supreme Court reasoned in part that waiving the right to a jury trial before litigation arises is unconstitutional.
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December 18, 2017
Attorney Robert Smith was interviewed by Arkansas Business regarding a recent Arkansas Supreme Court decision that determined pre-dispute contractual waivers of the right to a jury trial are unenforceable under the Arkansas Constitution.
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June 13, 2017
Robert Smith's article on CIBC Act compliance challenges was featured this week in Arkansas Business. According to Robert, the federal Change in Bank Control Act may be the most often overlooked — and one of the most often violated — of all banking regulations.
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June 7, 2017
A process to come up with a standard national Chapter 13 Plan has resulted in a number of proposed changes to the Bankruptcy Rules which have a target effective date of December 1, 2017.
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May 23, 2017
The Change in Bank Control Act ("CIBC Act") may be the most often overlooked (and, likely, one of the most often violated) of all banking regulations. Inadvertent violations have recently become more common in Arkansas given the increase in estate planning related stock transfers by shareholders planning for the next generation of ownership. These transfers commonly run afoul of the provisions of the CIBC Act.
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May 9, 2017
An employee stock ownership plan (“ESOP”) is a powerful and effective tool that can be used by a closely held bank to address many different issues within the bank. An ESOP when used in the right circumstances can provide the following advantages: Shareholder succession, employee benefits and tax benefits to the bank.
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