(a)
(1) Unless otherwise specifically indicated, and to the fullest extent permitted by the Arkansas Constitution, any reference in the Arkansas Banking Code of 1997 to an existing state or federal statute or regulation shall mean to the statute or regulation as it has been or may in the future be amended or supplemented.
(2) If in any case the construction is not constitutionally permissible, the reference shall mean to the statute or regulation as it existed on May 31, 1997.
(b) Unless the context otherwise requires:
(1) Any reference in the Arkansas Banking Code of 1997 to “applicable law”, “existing law”, or similar references, shall encompass the laws of the executive, legislative, and judicial branches of the appropriate jurisdiction;
(2) Any reference in the Arkansas Banking Code of 1997 to the discretion of the Bank Commissioner shall mean the sole, uncontrolled discretion of the commissioner; and
(3) Any reference in the Arkansas Banking Code of 1997 to the Federal Deposit Insurance Corporation shall also reference any successor thereof.