Arkansas SB229: TO CREATE THE DEPARTMENT OF FINANCIAL SERVICES WITHIN THE DEPARTMENT OF COMMERCE

What the bill says

An act to be entitled an act to create the department of financial services within the department of commerce; and for other purposes. subtitle to create the department of financial services within the department of commerce.

From the introduced text:

An Act To Be Entitled AN ACT TO CREATE THE DEPARTMENT OF FINANCIAL SERVICES WITHIN THE DEPARTMENT OF COMMERCE; AND FOR OTHER PURPOSES. Subtitle TO CREATE THE DEPARTMENT OF FINANCIAL SERVICES WITHIN THE DEPARTMENT OF COMMERCE. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code Title 23, Chapter 45, Subchapter 1, is amended to add an additional section to read as follows: 23-45-107. Department of Financial Services -- Creation. (a) There is created within the Department of Commerce the Department of Financial Services. (b) The Department of Financial Services shall consist and (2) State Securities Department. (c) The Bank Commissioner shall be the Director of the Department of Financial Services. SECTION 2. Arkansas Code § 25-43-302(a)(21), concerning the state entities within the Department of Commerce, is amended to read as follows: (21) The State Bank Department, created under § 23-46-201, within the Department of Financial Services; *ANS154* 02/13/2025 12:55:44 PM ANS154 SB229 SECTION 3. Arkansas Code § 25-43-302(a), concerning the state entities within the Department of Commerce, is amended to add an additional subdivision to read as follows: (26) The Department of Financial Services, created under § 2345-107. 02/13/2025 12:55:44 PM ANS154

Read the full official text

Sponsors

• Justin Boyd (R, 27) · primary sponsor
• Brandon Achor (R, 71)

Latest actions

1. May 5, 2025: Sine Die adjournment
2. April 3, 2025: Recommended for study in the Interim Committee on INSURANCE & COMMERCE - SENATE
3. April 2, 2025: Returned from the House as requested.
4. April 2, 2025: Returned to the Senate as requested.
5. February 19, 2025: Read the first time, rules suspended, read the second time and referred to the Committee on INSURANCE & COMMERCE- HOUSE
6. February 19, 2025: RECEIVED FROM THE SENATE
7. February 19, 2025: Ordered immediately transmitted to the House.
8. February 19, 2025: Read the third time and passed.
9. February 18, 2025: Returned by the Committee, with the recommendation that it Do Pass
10. February 13, 2025: Read first time, rules suspended, read second time, referred to INSURANCE & COMMERCE - SENATE

Votes

• Senate Roll Call #609 (March 18, 2025): 34 yea, 0 nay, passed
• Senate Roll Call #274 (February 19, 2025): 29 yea, 0 nay, passed

Common questions

What is SB229?

SB229 is a bill in the Arkansas Legislature (95th General Assembly (2025 Regular)): TO CREATE THE DEPARTMENT OF FINANCIAL SERVICES WITHIN THE DEPARTMENT OF COMMERCE.

What does SB229 do?

In its own words: An act to be entitled an act to create the department of financial services within the department of commerce; and for other purposes. subtitle to create the department of financial services within the department of commerce.

What is the status of SB229?

Failed as of May 5, 2025. Latest action: Sine Die adjournment (May 5, 2025).

Who sponsored SB229?

Justin Boyd (R, 27), with 1 co-sponsor.

Where is the official record for SB229?

On the Arkansas Legislature website: https://www.arkleg.state.ar.us/Bills/Detail?ddBienniumSession=2025%2F2025R&measureno=SB229