The bill amends the law regarding the retention of criminal background checks conducted by the Bank Commissioner in Arkansas. Specifically, it changes the requirement for how long these checks must be kept. Previously, the law mandated that the checks be destroyed within six months of receipt; however, the new amendment stipulates that the checks must now be retained for at least three years from the date of receipt.

This change aims to enhance the retention period for criminal background checks, allowing for a longer timeframe in which the information can be accessed and utilized by the Bank Commissioner. The amendment reflects a shift in policy to ensure that relevant background information is available for a more extended period, potentially improving oversight and regulatory compliance within the banking sector.

Statutes affected:
HB 1483: 23-46-205(f)
Act 297: 23-46-205(f)