STATE OF ARKANSAS
|IN THE MATTER OF||ORDER EXTENDING|
|THE PORTLAND BANK||ORDER NO. 99-018-S|
FINDINGS OF FACT
CONCLUSIONS OF LAW
Section 23-42-503(d)(4) of the Act provides that the Commissioner may by order extend the period of effectiveness of an exemption filing for a time not to exceed five years.
All documents, information and fees necessary to claim an exemption pursuant to Section 23-42-503(a)(3) of the Act were filed with the Department, and it appears that no public interest would be served by requiring The Portland Bank to make the same exemption filing each year provided no change in the offering is made, and such repeated filing is not necessary for the protection of investors.
IT IS THEREFORE ORDERED that the period of effectiveness for the proof of exemption filed by The Portland Bank is hereby extended to March 22, 2004.
WITNESS MY HAND AND SEAL this 24th day of March, 1999.