Ark. Code Ann. § 4-26-1003 — AR Code / Title 4 / Chapter 26 / Subchapter 10 / Section 4-26-1003
Action on plan of conversion by converting corporation
Status: in_force

(a) A plan of conversion may be approved if the: (1) Board of directors recommends the plan of conversion to the shareholders, unless the board of directors: (A) Determines that because of a conflict of interest or other special circumstances it should make no recommendation; and (B) Communicates the basis for its determination at the time the plan of conversion is submitted to the shareholders; and (2) Shareholders approve the plan by the affirmative vote of the holders of at least two-thirds (2/3) of the outstanding shares entitled to vote. (b) The board of directors may condition its submission of the proposed conversion on any basis. (c) (1) The corporation shall notify each shareholder, whether or not entitled to vote, of the proposed shareholders' meeting: (A) Not less than twenty (20) days before the meeting; and (B) In the manner provided in § 4-26-703 for giving notice of meetings of shareholders. (2) The notice shall: (A) State that a purpose of the meeting is to consider the plan of conversion; and (B) Contain or be accompanied by a copy or summary of the plan. (d) Unless this chapter, the articles of incorporation, or the board of directors acting under subsection (b) of this section require a greater vote or a vote by voting groups, the plan of conversion to be authorized must be approved by each voting group entitled to vote separately on the plan by at least two-thirds (2/3) of all the votes entitled to be cast on the plan by the voting group. (e) Subject to any contractual rights, until a conversion is filed under § 4-26-1004 , a converting corporation may amend the plan or abandon the planned conversion: (1) As provided in the plan; and (2) Except as prohibited by the plan, by the same consent required to approve the plan. Acts 2009, No. 408, § 1.

(a) A plan of conversion may be approved if the: (1) Board of directors recommends the plan of conversion to the shareholders, unless the board of directors: (A) Determines that because of a conflict of interest or other special circumstances it should make no recommendation; and (B) Communicates the basis for its determination at the time the plan of conversion is submitted to the shareholders; and (2) Shareholders approve the plan by the affirmative vote of the holders of at least two-thirds (2/3) of the outstanding shares entitled to vote.

(1) Board of directors recommends the plan of conversion to the shareholders, unless the board of directors: (A) Determines that because of a conflict of interest or other special circumstances it should make no recommendation; and (B) Communicates the basis for its determination at the time the plan of conversion is submitted to the shareholders; and

(A) Determines that because of a conflict of interest or other special circumstances it should make no recommendation; and

(B) Communicates the basis for its determination at the time the plan of conversion is submitted to the shareholders; and

(2) Shareholders approve the plan by the affirmative vote of the holders of at least two-thirds (2/3) of the outstanding shares entitled to vote.

(b) The board of directors may condition its submission of the proposed conversion on any basis.

(c) (1) The corporation shall notify each shareholder, whether or not entitled to vote, of the proposed shareholders' meeting: (A) Not less than twenty (20) days before the meeting; and (B) In the manner provided in § 4-26-703 for giving notice of meetings of shareholders. (2) The notice shall: (A) State that a purpose of the meeting is to consider the plan of conversion; and (B) Contain or be accompanied by a copy or summary of the plan.

(1) The corporation shall notify each shareholder, whether or not entitled to vote, of the proposed shareholders' meeting: (A) Not less than twenty (20) days before the meeting; and (B) In the manner provided in § 4-26-703 for giving notice of meetings of shareholders.

(A) Not less than twenty (20) days before the meeting; and

(B) In the manner provided in § 4-26-703 for giving notice of meetings of shareholders.

(2) The notice shall: (A) State that a purpose of the meeting is to consider the plan of conversion; and (B) Contain or be accompanied by a copy or summary of the plan.

(A) State that a purpose of the meeting is to consider the plan of conversion; and

(B) Contain or be accompanied by a copy or summary of the plan.

(d) Unless this chapter, the articles of incorporation, or the board of directors acting under subsection (b) of this section require a greater vote or a vote by voting groups, the plan of conversion to be authorized must be approved by each voting group entitled to vote separately on the plan by at least two-thirds (2/3) of all the votes entitled to be cast on the plan by the voting group.

(e) Subject to any contractual rights, until a conversion is filed under § 4-26-1004 , a converting corporation may amend the plan or abandon the planned conversion: (1) As provided in the plan; and (2) Except as prohibited by the plan, by the same consent required to approve the plan.

(1) As provided in the plan; and

(2) Except as prohibited by the plan, by the same consent required to approve the plan.

Acts 2009, No. 408, § 1.
Ark. Code Ann. § 4-28-104 — AR Code / Title 4 / Chapter 28 / Subchapter 1 / Section 4-28-104
Audit of nonprofit organization
Status: in_force

(a) For purposes of this section: (1) "Nonprofit organization" means an organization exempt from taxation under § 26 U.S.C. 501(c)(3) ; and (2) "State financial assistance" means all state funds given, granted, or disbursed to a nonprofit organization pursuant to appropriation laws to provide services for the citizens of this state or for capital projects. (b) (1) Any nonprofit organization receiving state financial assistance shall be subject to audit of its receipt and expenditure of state financial assistance by Arkansas Legislative Audit. (2) An audit shall be conducted by Arkansas Legislative Audit only after approval by the Legislative Joint Auditing Committee. Acts 2001, No. 958, § 1.

(a) For purposes of this section: (1) "Nonprofit organization" means an organization exempt from taxation under § 26 U.S.C. 501(c)(3) ; and (2) "State financial assistance" means all state funds given, granted, or disbursed to a nonprofit organization pursuant to appropriation laws to provide services for the citizens of this state or for capital projects.

(1) "Nonprofit organization" means an organization exempt from taxation under § 26 U.S.C. 501(c)(3) ; and

(2) "State financial assistance" means all state funds given, granted, or disbursed to a nonprofit organization pursuant to appropriation laws to provide services for the citizens of this state or for capital projects.

(b) (1) Any nonprofit organization receiving state financial assistance shall be subject to audit of its receipt and expenditure of state financial assistance by Arkansas Legislative Audit. (2) An audit shall be conducted by Arkansas Legislative Audit only after approval by the Legislative Joint Auditing Committee.

(1) Any nonprofit organization receiving state financial assistance shall be subject to audit of its receipt and expenditure of state financial assistance by Arkansas Legislative Audit.

(2) An audit shall be conducted by Arkansas Legislative Audit only after approval by the Legislative Joint Auditing Committee.

Acts 2001, No. 958, § 1.
Ark. Code Ann. § 4-46-913 — AR Code / Title 4 / Chapter 46 / Subchapter 9 / Section 4-46-913
Chapter not exclusive
Status: in_force

This chapter does not preclude an entity from being converted or merged under other law. Acts 2009, No. 408, § 6.

This chapter does not preclude an entity from being converted or merged under other law.

Acts 2009, No. 408, § 6.
Ark. Code Ann. § 4-28-105 — AR Code / Title 4 / Chapter 28 / Subchapter 1 / Section 4-28-105
Capacity to assert and defend - Standing
Status: in_force

(a) A nonprofit organization may, in its own name, institute, defend, intervene, or participate in a judicial, administrative, or other governmental proceeding or in an arbitration, mediation, or any other form of alternative dispute resolution. (b) A nonprofit organization may, in its own name, assert a claim on behalf of its members if: (1) One (1) or more members of the nonprofit organization have standing to assert a claim in their own rights; (2) The interests the nonprofit organization seeks to protect are germane to its purpose; and (3) Neither the claim asserted nor the relief requested requires the participation of a member. Amended by Act 2019, No. 379,§ 2, eff. 7/24/2019. Added by Act 2017, No. 822,§ 1, eff. 8/1/2017.

(a) A nonprofit organization may, in its own name, institute, defend, intervene, or participate in a judicial, administrative, or other governmental proceeding or in an arbitration, mediation, or any other form of alternative dispute resolution.

(b) A nonprofit organization may, in its own name, assert a claim on behalf of its members if: (1) One (1) or more members of the nonprofit organization have standing to assert a claim in their own rights; (2) The interests the nonprofit organization seeks to protect are germane to its purpose; and (3) Neither the claim asserted nor the relief requested requires the participation of a member.

(1) One (1) or more members of the nonprofit organization have standing to assert a claim in their own rights;

(2) The interests the nonprofit organization seeks to protect are germane to its purpose; and

(3) Neither the claim asserted nor the relief requested requires the participation of a member.

Amended by Act 2019, No. 379,§ 2, eff. 7/24/2019.

Added by Act 2017, No. 822,§ 1, eff. 8/1/2017.
Ark. Code Ann. § 4-70-203 — AR Code / Title 4 / Chapter 70 / Subchapter 2 / Section 4-70-203
Doing business under assumed name - Certificate
Status: in_force

(a) No person shall conduct or transact business in this state under an assumed name or under any designated name or style, corporate or otherwise, other than the real name of the individual conducting or transacting such business, unless the person files a certificate in the office of the county clerk of the counties in which the person conducts or transacts or intends to conduct the business. The certificate shall set forth the name under which the business is, or is to be, conducted or transacted and the full name or names of each person conducting or transacting the business, with the post office address of each. (b) The certificate shall be executed and duly acknowledged by the persons so conducting or intending to conduct the business in the manner provided for in acknowledgment of conveyances of real estate. Acts 1943, No. 11, § 1; A.S.A. 1947, § 70-401.

(a) No person shall conduct or transact business in this state under an assumed name or under any designated name or style, corporate or otherwise, other than the real name of the individual conducting or transacting such business, unless the person files a certificate in the office of the county clerk of the counties in which the person conducts or transacts or intends to conduct the business. The certificate shall set forth the name under which the business is, or is to be, conducted or transacted and the full name or names of each person conducting or transacting the business, with the post office address of each.

(b) The certificate shall be executed and duly acknowledged by the persons so conducting or intending to conduct the business in the manner provided for in acknowledgment of conveyances of real estate.

Acts 1943, No. 11, § 1; A.S.A. 1947, § 70-401.
Ark. Code Ann. § 4-26-1005 — AR Code / Title 4 / Chapter 26 / Subchapter 10 / Section 4-26-1005
Effect of conversion
Status: in_force

(a) An organization that has been converted under this subchapter is for all purposes the same entity that existed before the conversion. (b) When a conversion takes effect: (1) All property owned by the converting organization remains vested in the converted organization; (2) All debts, liabilities, and other obligations of the converting organization continue as obligations of the converted organization; (3) An action or proceeding pending by or against the converting organization may be continued as if the conversion had not occurred; (4) Except as prohibited by other law, all of the rights, privileges, immunities, powers, and purposes of the converting organization remain vested in the converted organization; (5) Except as otherwise provided in the plan of conversion, the terms and conditions of the plan of conversion take effect; and (6) Except as otherwise agreed, the conversion does not dissolve a converting corporation under § 4-26-1101 et seq. (c) (1) A converted organization that is a foreign organization consents to the jurisdiction of the courts of this state to enforce any obligation owed by the converting corporation if before the conversion the converting corporation was subject to suit in this state on the obligation. (2) A converted organization that is a foreign organization and not authorized to transact business in this state may be served with process under § 4-20-113 if the converted organization: (A) Fails to appoint an agent for service of process under § 4-20-112 ; (B) No longer has an agent for service of process; or (C) Has an agent for service of process that cannot with reasonable diligence be served. Acts 2009, No. 408, § 1.

(a) An organization that has been converted under this subchapter is for all purposes the same entity that existed before the conversion.

(b) When a conversion takes effect: (1) All property owned by the converting organization remains vested in the converted organization; (2) All debts, liabilities, and other obligations of the converting organization continue as obligations of the converted organization; (3) An action or proceeding pending by or against the converting organization may be continued as if the conversion had not occurred; (4) Except as prohibited by other law, all of the rights, privileges, immunities, powers, and purposes of the converting organization remain vested in the converted organization; (5) Except as otherwise provided in the plan of conversion, the terms and conditions of the plan of conversion take effect; and (6) Except as otherwise agreed, the conversion does not dissolve a converting corporation under § 4-26-1101 et seq.

(1) All property owned by the converting organization remains vested in the converted organization;

(2) All debts, liabilities, and other obligations of the converting organization continue as obligations of the converted organization;

(3) An action or proceeding pending by or against the converting organization may be continued as if the conversion had not occurred;

(4) Except as prohibited by other law, all of the rights, privileges, immunities, powers, and purposes of the converting organization remain vested in the converted organization;

(5) Except as otherwise provided in the plan of conversion, the terms and conditions of the plan of conversion take effect; and

(6) Except as otherwise agreed, the conversion does not dissolve a converting corporation under § 4-26-1101 et seq.

(c) (1) A converted organization that is a foreign organization consents to the jurisdiction of the courts of this state to enforce any obligation owed by the converting corporation if before the conversion the converting corporation was subject to suit in this state on the obligation. (2) A converted organization that is a foreign organization and not authorized to transact business in this state may be served with process under § 4-20-113 if the converted organization: (A) Fails to appoint an agent for service of process under § 4-20-112 ; (B) No longer has an agent for service of process; or (C) Has an agent for service of process that cannot with reasonable diligence be served.

(1) A converted organization that is a foreign organization consents to the jurisdiction of the courts of this state to enforce any obligation owed by the converting corporation if before the conversion the converting corporation was subject to suit in this state on the obligation.

(2) A converted organization that is a foreign organization and not authorized to transact business in this state may be served with process under § 4-20-113 if the converted organization: (A) Fails to appoint an agent for service of process under § 4-20-112 ; (B) No longer has an agent for service of process; or (C) Has an agent for service of process that cannot with reasonable diligence be served.

(A) Fails to appoint an agent for service of process under § 4-20-112 ;

(B) No longer has an agent for service of process; or

(C) Has an agent for service of process that cannot with reasonable diligence be served.

Acts 2009, No. 408, § 1.
Ark. Code Ann. § 4-29-204 — AR Code / Title 4 / Chapter 29 / Subchapter 2 / Section 4-29-204
Application of Arkansas Business Corporation Act
Status: in_force

(a) The Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., shall be applicable to such professional corporations, including their organization, and they shall enjoy the powers and privileges and be subject to the duties, restrictions, and liabilities of other corporations except so far as they may be limited or enlarged by this subchapter. (b) If any provision of this subchapter conflicts with the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., this subchapter shall take precedence. (c) If any person incorporating under the Arkansas Professional Corporation Act, § 4-29-201 et seq., the Medical Corporation Act, § 4-29-301 et seq., or the Dental Corporation Act, § 4-29-401 et seq., needs to convert to a business corporation as governed by the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., that professional association may do so by filing an amendment in accordance with § 4-27-1006 , provided that the relevant licensing agency allows. Acts 1963, No. 155, § 3; 1970 (Ex. Sess.), No. 13, § 2; A.S.A. 1947, § 64-2003; Acts 1999, No. 481, § 1.

(a) The Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., shall be applicable to such professional corporations, including their organization, and they shall enjoy the powers and privileges and be subject to the duties, restrictions, and liabilities of other corporations except so far as they may be limited or enlarged by this subchapter.

(b) If any provision of this subchapter conflicts with the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., this subchapter shall take precedence.

(c) If any person incorporating under the Arkansas Professional Corporation Act, § 4-29-201 et seq., the Medical Corporation Act, § 4-29-301 et seq., or the Dental Corporation Act, § 4-29-401 et seq., needs to convert to a business corporation as governed by the Arkansas Business Corporation Act of 1987, § 4-27-101 et seq., that professional association may do so by filing an amendment in accordance with § 4-27-1006 , provided that the relevant licensing agency allows.

Acts 1963, No. 155, § 3; 1970 (Ex. Sess.), No. 13, § 2; A.S.A. 1947, § 64-2003; Acts 1999, No. 481, § 1.
Ark. Code Ann. § 4-38-210 — AR Code / Title 4 / Chapter 38 / Subchapter 2 / Section 4-38-210
Duty of Secretary of State to file - Review of refusal to file - Delivery of record by Secretary of State
Status: in_force

(a) The Secretary of State shall file a record delivered to the Secretary of State for filing which satisfies this chapter. The duty of the Secretary of State under this section is ministerial. (b) When the Secretary of State files a record, the Secretary of State shall record it as filed on the date and at the time of its delivery. After filing a record, the Secretary of State shall deliver to the person that submitted the record a copy of the record with an acknowledgment of the date and time of filing and, in the case of a statement of denial, also to the limited liability company to which the statement pertains. (c) If the Secretary of State refuses to file a record, the Secretary of State shall, not later than 15 business days after the record is delivered: (1) return the record or notify the person that submitted the record of the refusal; and (2) provide a brief explanation in a record of the reason for the refusal. (d) If the Secretary of State refuses to file a record, the person that submitted the record may petition the circuit court to compel filing of the record. The record and the explanation of the Secretary of State of the refusal to file must be attached to the petition. The court may decide the matter in a summary proceeding. (e) The filing of or refusal to file a record does not: (1) affect the validity or invalidity of the record in whole or in part; or (2) create a presumption that the information contained in the record is correct or incorrect. (f) Except as otherwise provided by § 4-38-119 or by law other than this chapter, the Secretary of State may deliver any record to a person by delivering it: (1) in person to the person that submitted it; (2) to the address of the person's registered agent; (3) to the principal office of the person; or (4) to another address the person provides to the Secretary of State for delivery. Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.

(a) The Secretary of State shall file a record delivered to the Secretary of State for filing which satisfies this chapter. The duty of the Secretary of State under this section is ministerial.

(b) When the Secretary of State files a record, the Secretary of State shall record it as filed on the date and at the time of its delivery. After filing a record, the Secretary of State shall deliver to the person that submitted the record a copy of the record with an acknowledgment of the date and time of filing and, in the case of a statement of denial, also to the limited liability company to which the statement pertains.

(c) If the Secretary of State refuses to file a record, the Secretary of State shall, not later than 15 business days after the record is delivered: (1) return the record or notify the person that submitted the record of the refusal; and (2) provide a brief explanation in a record of the reason for the refusal.

(1) return the record or notify the person that submitted the record of the refusal; and

(2) provide a brief explanation in a record of the reason for the refusal.

(d) If the Secretary of State refuses to file a record, the person that submitted the record may petition the circuit court to compel filing of the record. The record and the explanation of the Secretary of State of the refusal to file must be attached to the petition. The court may decide the matter in a summary proceeding.

(e) The filing of or refusal to file a record does not: (1) affect the validity or invalidity of the record in whole or in part; or (2) create a presumption that the information contained in the record is correct or incorrect.

(1) affect the validity or invalidity of the record in whole or in part; or

(2) create a presumption that the information contained in the record is correct or incorrect.

(f) Except as otherwise provided by § 4-38-119 or by law other than this chapter, the Secretary of State may deliver any record to a person by delivering it: (1) in person to the person that submitted it; (2) to the address of the person's registered agent; (3) to the principal office of the person; or (4) to another address the person provides to the Secretary of State for delivery.

(1) in person to the person that submitted it;

(2) to the address of the person's registered agent;

(3) to the principal office of the person; or

(4) to another address the person provides to the Secretary of State for delivery.

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.
Ark. Code Ann. § 4-18-337 — AR Code / Title 4 / Chapter 18 / Subchapter 3 / Section 4-18-337
Office and field standards - Verification
Status: in_force

(a) In addition to the state standards provided under § 4-18-336 , the state shall supply at least one (1) complete set of copies of the state standards to be kept in the office or laboratory of the Arkansas Bureau of Standards, which shall be known as "office standards", also "field standards", and equipment as may be found necessary to carry out the provisions of this subchapter. (b) The office standards and field standards shall be verified upon their initial receipt and verified at least one (1) time each following year by comparing the office standards with the state standards and comparing the field standards with the office standards. Acts 2005, No. 914, § 5.

(a) In addition to the state standards provided under § 4-18-336 , the state shall supply at least one (1) complete set of copies of the state standards to be kept in the office or laboratory of the Arkansas Bureau of Standards, which shall be known as "office standards", also "field standards", and equipment as may be found necessary to carry out the provisions of this subchapter.

(b) The office standards and field standards shall be verified upon their initial receipt and verified at least one (1) time each following year by comparing the office standards with the state standards and comparing the field standards with the office standards.

Acts 2005, No. 914, § 5.
Ark. Code Ann. § 4-38-403 — AR Code / Title 4 / Chapter 38 / Subchapter 4 / Section 4-38-403
Liability for contributions
Status: in_force

(a) A person's obligation to make a contribution to a limited liability company is not excused by the person's death, disability, termination, or other inability to perform personally. (b) If a person does not fulfill an obligation to make a contribution other than money, the person is obligated at the option of the limited liability company to contribute money equal to the value of the part of the contribution which has not been made. (c) The obligation of a person to make a contribution may be compromised only by the affirmative vote or consent of all the members. If a creditor of a limited liability company extends credit or otherwise acts in reliance on an obligation described in subsection (a) without knowledge or notice of a compromise under this subsection, the creditor may enforce the obligation. Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.

(a) A person's obligation to make a contribution to a limited liability company is not excused by the person's death, disability, termination, or other inability to perform personally.

(b) If a person does not fulfill an obligation to make a contribution other than money, the person is obligated at the option of the limited liability company to contribute money equal to the value of the part of the contribution which has not been made.

(c) The obligation of a person to make a contribution may be compromised only by the affirmative vote or consent of all the members. If a creditor of a limited liability company extends credit or otherwise acts in reliance on an obligation described in subsection (a) without knowledge or notice of a compromise under this subsection, the creditor may enforce the obligation.

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.
Ark. Code Ann. § 4-5-120 — AR Code / Title 4 / Chapter 5 / Section 4-5-120
Savings clause
Status: in_force

A transaction arising out of or associated with a letter of credit that was issued before August 1, 1997 and the rights, obligations, and interests flowing from that transaction are governed by any statute or other law amended or repealed by this chapter as if repeal or amendment had not occurred and may be terminated, completed, consummated, or enforced under that statute or other law. Acts 1997, No. 1070, § 10; 2001, No. 1439, § 14.

A transaction arising out of or associated with a letter of credit that was issued before August 1, 1997 and the rights, obligations, and interests flowing from that transaction are governed by any statute or other law amended or repealed by this chapter as if repeal or amendment had not occurred and may be terminated, completed, consummated, or enforced under that statute or other law.

Acts 1997, No. 1070, § 10; 2001, No. 1439, § 14.
Ark. Code Ann. § 4-30-207 — AR Code / Title 4 / Chapter 30 / Subchapter 2 / Section 4-30-207
Banks declared investment companies - Penalty - Exception
Status: in_force

(a) (1) Every cooperative bank organized under this chapter prior to March 22, 1937, which is not situated in a city, town, or community in which there is also situated a state or national bank or a teller's window branch thereof is declared to be an investment company and shall be placed under the regulation and supervision of the State Securities Department, in the same manner as now provided by law for other investment companies. (2) The Securities Commissioner, in consultation with the Secretary of the Department of Commerce and the Bank Commissioner, is authorized, empowered, and directed to make and promulgate all such rules not inconsistent herewith as shall be necessary or convenient for the administration and carrying out of this subchapter and for the supervision and control of all such organizations. (b) Failure to comply with any of the requirements of this section subjects the cooperative bank which is guilty of the failure and its president, its secretary, and its directors to the penalties provided for violation of the Arkansas Securities Act, § 23-42-101 et seq. (c) However, nothing in this subchapter shall apply to or affect any cooperative bank organized under this chapter prior to March 22, 1937, and situated on the campus of a school, college, or university and employed by the school as a means of instruction. Amended by Act 2023, No. 475,§ 2, eff. 8/1/2023. Amended by Act 2019, No. 315,§ 124, eff. 7/24/2019. Amended by Act 2019, No. 910,§ 128, eff. 7/1/2019. Acts 1921, No. 632, § 23 as added by Acts 1937, No. 287, § 1; Pope's Dig., § 2284; A.S.A. 1947, § 64-1523.

(a) (1) Every cooperative bank organized under this chapter prior to March 22, 1937, which is not situated in a city, town, or community in which there is also situated a state or national bank or a teller's window branch thereof is declared to be an investment company and shall be placed under the regulation and supervision of the State Securities Department, in the same manner as now provided by law for other investment companies. (2) The Securities Commissioner, in consultation with the Secretary of the Department of Commerce and the Bank Commissioner, is authorized, empowered, and directed to make and promulgate all such rules not inconsistent herewith as shall be necessary or convenient for the administration and carrying out of this subchapter and for the supervision and control of all such organizations.

(1) Every cooperative bank organized under this chapter prior to March 22, 1937, which is not situated in a city, town, or community in which there is also situated a state or national bank or a teller's window branch thereof is declared to be an investment company and shall be placed under the regulation and supervision of the State Securities Department, in the same manner as now provided by law for other investment companies.

(2) The Securities Commissioner, in consultation with the Secretary of the Department of Commerce and the Bank Commissioner, is authorized, empowered, and directed to make and promulgate all such rules not inconsistent herewith as shall be necessary or convenient for the administration and carrying out of this subchapter and for the supervision and control of all such organizations.

(b) Failure to comply with any of the requirements of this section subjects the cooperative bank which is guilty of the failure and its president, its secretary, and its directors to the penalties provided for violation of the Arkansas Securities Act, § 23-42-101 et seq.

(c) However, nothing in this subchapter shall apply to or affect any cooperative bank organized under this chapter prior to March 22, 1937, and situated on the campus of a school, college, or university and employed by the school as a means of instruction.

Amended by Act 2023, No. 475,§ 2, eff. 8/1/2023.

Amended by Act 2019, No. 315,§ 124, eff. 7/24/2019.

Amended by Act 2019, No. 910,§ 128, eff. 7/1/2019.

Acts 1921, No. 632, § 23 as added by Acts 1937, No. 287, § 1; Pope's Dig., § 2284; A.S.A. 1947, § 64-1523.
Ark. Code Ann. § 4-104-203 — AR Code / Title 4 / Chapter 104 / Subchapter 2 / Section 4-104-203
Solicitations at athletic events
Status: in_force

If the institution of higher learning permits solicitations at athletic events, the institution shall include a credit seminar within the institution's freshman orientation. Acts 1999, No. 1328, § 3.

If the institution of higher learning permits solicitations at athletic events, the institution shall include a credit seminar within the institution's freshman orientation.

Acts 1999, No. 1328, § 3.
Ark. Code Ann. § 4-47-809 — AR Code / Title 4 / Chapter 47 / Subchapter 8 / Section 4-47-809
Administrative dissolution
Status: in_force

(a) The Secretary of State may dissolve a limited partnership administratively if the limited partnership does not, within 60 days after the due date: (1) pay any fee, tax, or penalty due to the Secretary of State under this chapter or other law; or (2) deliver its annual report to the Secretary of State. (b) If the Secretary of State determines that a ground exists for administratively dissolving a limited partnership, the Secretary of State shall file a record of the determination and serve the limited partnership with a copy of the filed record. (c) If within 60 days after service of the copy the limited partnership does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Secretary of State that each ground determined by the Secretary of State does not exist, the Secretary of State shall administratively dissolve the limited partnership by preparing, signing and filing a declaration of dissolution that states the grounds for dissolution. The Secretary of State shall serve the limited partnership with a copy of the filed declaration. (d) A limited partnership administratively dissolved continues its existence but may carry on only activities necessary to wind up its activities and liquidate its assets under §§ 4-47-803 and 4-47-812 and to notify claimants under §§ 4-47-806 and 4-47-807 . (e) The administrative dissolution of a limited partnership does not terminate the authority of its agent for service of process. Acts 2007, No. 15, § 1.

(a) The Secretary of State may dissolve a limited partnership administratively if the limited partnership does not, within 60 days after the due date: (1) pay any fee, tax, or penalty due to the Secretary of State under this chapter or other law; or (2) deliver its annual report to the Secretary of State.

(1) pay any fee, tax, or penalty due to the Secretary of State under this chapter or other law; or

(2) deliver its annual report to the Secretary of State.

(b) If the Secretary of State determines that a ground exists for administratively dissolving a limited partnership, the Secretary of State shall file a record of the determination and serve the limited partnership with a copy of the filed record.

(c) If within 60 days after service of the copy the limited partnership does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Secretary of State that each ground determined by the Secretary of State does not exist, the Secretary of State shall administratively dissolve the limited partnership by preparing, signing and filing a declaration of dissolution that states the grounds for dissolution. The Secretary of State shall serve the limited partnership with a copy of the filed declaration.

(d) A limited partnership administratively dissolved continues its existence but may carry on only activities necessary to wind up its activities and liquidate its assets under §§ 4-47-803 and 4-47-812 and to notify claimants under §§ 4-47-806 and 4-47-807 .

(e) The administrative dissolution of a limited partnership does not terminate the authority of its agent for service of process.

Acts 2007, No. 15, § 1.
Ark. Code Ann. § 4-110-104 — AR Code / Title 4 / Chapter 110 / Section 4-110-104
Protection of personal information
Status: in_force

(a) A person or business shall take all reasonable steps to destroy or arrange for the destruction of a customer's records within its custody or control containing personal information that is no longer to be retained by the person or business by shredding, erasing, or otherwise modifying the personal information in the records to make it unreadable or undecipherable through any means. (b) A person or business that acquires, owns, or licenses personal information about an Arkansas resident shall implement and maintain reasonable security procedures and practices appropriate to the nature of the information to protect the personal information from unauthorized access, destruction, use, modification, or disclosure. Acts 2005, No. 1526, § 1.

(a) A person or business shall take all reasonable steps to destroy or arrange for the destruction of a customer's records within its custody or control containing personal information that is no longer to be retained by the person or business by shredding, erasing, or otherwise modifying the personal information in the records to make it unreadable or undecipherable through any means.

(b) A person or business that acquires, owns, or licenses personal information about an Arkansas resident shall implement and maintain reasonable security procedures and practices appropriate to the nature of the information to protect the personal information from unauthorized access, destruction, use, modification, or disclosure.

Acts 2005, No. 1526, § 1.
Ark. Code Ann. § 4-90-703 — AR Code / Title 4 / Chapter 90 / Subchapter 7 / Section 4-90-703
Debt cancellation agreements to be legible - Disclosure requirements
Status: in_force

All terms of a debt cancellation agreement shall be printed or reproduced to render all material provisions of the agreement legible and shall clearly and conspicuously disclose the following information: (1) If the debt cancellation agreement is provided by or administered by a third party, the debt cancellation agreement shall disclose that fact and provide the name, address, and telephone number of the third party and describe the procedure to follow for filing a claim with that third party under the debt cancellation agreement; (2) The total retail price of the debt cancellation agreement; (3) Any limitation or restriction on the cancellation of the entire debt due upon the occurrence of the specified event; (4) That the purchaser is allowed to cancel the debt cancellation agreement at any time and receive a refund paid directly to the purchaser minus any cancellation fee not to exceed twenty-five dollars ($25.00) as follows: (A) If the debt cancellation agreement is cancelled within thirty (30) days of purchase, a purchaser shall receive a full refund of the retail price; or (B) If the debt cancellation agreement is cancelled at a later time, the purchaser shall receive a pro rata refund of the retail price for the unexpired term based upon the number of elapsed months at the time of the cancellation compared to the total length of the financing agreement; and (5) That the terms of the debt cancellation agreement financed by the lender are binding on the lender. Acts 2007, No. 496, § 22.

All terms of a debt cancellation agreement shall be printed or reproduced to render all material provisions of the agreement legible and shall clearly and conspicuously disclose the following information:

(1) If the debt cancellation agreement is provided by or administered by a third party, the debt cancellation agreement shall disclose that fact and provide the name, address, and telephone number of the third party and describe the procedure to follow for filing a claim with that third party under the debt cancellation agreement;

(2) The total retail price of the debt cancellation agreement;

(3) Any limitation or restriction on the cancellation of the entire debt due upon the occurrence of the specified event;

(4) That the purchaser is allowed to cancel the debt cancellation agreement at any time and receive a refund paid directly to the purchaser minus any cancellation fee not to exceed twenty-five dollars ($25.00) as follows: (A) If the debt cancellation agreement is cancelled within thirty (30) days of purchase, a purchaser shall receive a full refund of the retail price; or (B) If the debt cancellation agreement is cancelled at a later time, the purchaser shall receive a pro rata refund of the retail price for the unexpired term based upon the number of elapsed months at the time of the cancellation compared to the total length of the financing agreement; and

(A) If the debt cancellation agreement is cancelled within thirty (30) days of purchase, a purchaser shall receive a full refund of the retail price; or

(B) If the debt cancellation agreement is cancelled at a later time, the purchaser shall receive a pro rata refund of the retail price for the unexpired term based upon the number of elapsed months at the time of the cancellation compared to the total length of the financing agreement; and

(5) That the terms of the debt cancellation agreement financed by the lender are binding on the lender.

Acts 2007, No. 496, § 22.
Ark. Code Ann. § 4-47-1101 — AR Code / Title 4 / Chapter 47 / Subchapter 11 / Section 4-47-1101
Definitions
Status: in_force

In this subchapter: (1) "Constituent limited partnership" means a constituent organization that is a limited partnership. (2) "Constituent organization" means an organization that is party to a merger. (3) "Converted organization" means the organization into which a converting organization converts pursuant to §§ 4-47-1102 through 4-47-1105 . (4) "Converting limited partnership" means a converting organization that is a limited partnership. (5) "Converting organization" means an organization that converts into another organization pursuant to § 4-47-1102 . (6) "General partner" means a general partner of a limited partnership. (7) "Governing statute" of an organization means the statute that governs the organization's internal affairs. (8) "Organization" means a general partnership, including a limited liability partnership; limited partnership, including a limited liability limited partnership; limited liability company; business trust; corporation; or any other person having a governing statute. The term includes domestic and foreign organizations whether or not organized for profit. (9) "Organizational documents" means: (A) for a domestic or foreign general partnership, its partnership agreement; (B) for a limited partnership or foreign limited partnership, its certificate of limited partnership and partnership agreement; (C) for a domestic or foreign limited liability company, its certificate of organization and operating agreement, or comparable records as provided in its governing statute; (D) for a business trust, its agreement of trust and declaration of trust; (E) for a domestic or foreign corporation for profit, its articles of incorporation, bylaws, and other agreements among its shareholders which are authorized by its governing statute, or comparable records as provided in its governing statute; and (F) for any other organization, the basic records that create the organization and determine its internal governance and the relations among the persons that own it, have an interest in it, or are members of it. (10) "Personal liability" means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization: (A) by the organization's governing statute solely by reason of the person co-owning, having an interest in, or being a member of the organization; or (B) by the organization's organizational documents under a provision of the organization's governing statute authorizing those documents to make one or more specified persons liable for all or specified debts, liabilities, and other obligations of the organization solely by reason of the person or persons co-owning, having an interest in, or being a member of the organization. (11) "Surviving organization" means an organization into which one or more other organizations are merged. A surviving organization may preexist the merger or be created by the merger. Amended by Act 2023, No. 108,§ 5, eff. 8/1/2023. Acts 2007, No. 15, § 1.

In this subchapter:

(1) "Constituent limited partnership" means a constituent organization that is a limited partnership.

(2) "Constituent organization" means an organization that is party to a merger.

(3) "Converted organization" means the organization into which a converting organization converts pursuant to §§ 4-47-1102 through 4-47-1105 .

(4) "Converting limited partnership" means a converting organization that is a limited partnership.

(5) "Converting organization" means an organization that converts into another organization pursuant to § 4-47-1102 .

(6) "General partner" means a general partner of a limited partnership.

(7) "Governing statute" of an organization means the statute that governs the organization's internal affairs.

(8) "Organization" means a general partnership, including a limited liability partnership; limited partnership, including a limited liability limited partnership; limited liability company; business trust; corporation; or any other person having a governing statute. The term includes domestic and foreign organizations whether or not organized for profit.

(9) "Organizational documents" means: (A) for a domestic or foreign general partnership, its partnership agreement; (B) for a limited partnership or foreign limited partnership, its certificate of limited partnership and partnership agreement; (C) for a domestic or foreign limited liability company, its certificate of organization and operating agreement, or comparable records as provided in its governing statute; (D) for a business trust, its agreement of trust and declaration of trust; (E) for a domestic or foreign corporation for profit, its articles of incorporation, bylaws, and other agreements among its shareholders which are authorized by its governing statute, or comparable records as provided in its governing statute; and (F) for any other organization, the basic records that create the organization and determine its internal governance and the relations among the persons that own it, have an interest in it, or are members of it.

(A) for a domestic or foreign general partnership, its partnership agreement;

(B) for a limited partnership or foreign limited partnership, its certificate of limited partnership and partnership agreement;

(C) for a domestic or foreign limited liability company, its certificate of organization and operating agreement, or comparable records as provided in its governing statute;

(D) for a business trust, its agreement of trust and declaration of trust;

(E) for a domestic or foreign corporation for profit, its articles of incorporation, bylaws, and other agreements among its shareholders which are authorized by its governing statute, or comparable records as provided in its governing statute; and

(F) for any other organization, the basic records that create the organization and determine its internal governance and the relations among the persons that own it, have an interest in it, or are members of it.

(10) "Personal liability" means personal liability for a debt, liability, or other obligation of an organization which is imposed on a person that co-owns, has an interest in, or is a member of the organization: (A) by the organization's governing statute solely by reason of the person co-owning, having an interest in, or being a member of the organization; or (B) by the organization's organizational documents under a provision of the organization's governing statute authorizing those documents to make one or more specified persons liable for all or specified debts, liabilities, and other obligations of the organization solely by reason of the person or persons co-owning, having an interest in, or being a member of the organization.

(A) by the organization's governing statute solely by reason of the person co-owning, having an interest in, or being a member of the organization; or

(B) by the organization's organizational documents under a provision of the organization's governing statute authorizing those documents to make one or more specified persons liable for all or specified debts, liabilities, and other obligations of the organization solely by reason of the person or persons co-owning, having an interest in, or being a member of the organization.

(11) "Surviving organization" means an organization into which one or more other organizations are merged. A surviving organization may preexist the merger or be created by the merger.

Amended by Act 2023, No. 108,§ 5, eff. 8/1/2023.

Acts 2007, No. 15, § 1.
Ark. Code Ann. § 4-97-103 — AR Code / Title 4 / Chapter 97 / Section 4-97-103
Definitions
Status: in_force

For the purposes of this chapter: (1) "Animal" means a dog or cat of any age; (2) "Authorized person" means the Secretary of the Department of Health or his or her delegate, or any law enforcement officer; (3) "Cattery" means an enterprise wherein or whereon the business of grooming or boarding cats, or breeding cats for sale, and selling those cats, is carried on, and which does not in its usual course of business acquire cats for resale to the public; (4) "Consumer" means any individual purchasing an animal from a retail pet store. A retail pet store shall not be considered a consumer; (5) "D.V.M." means a person who has graduated from an accredited school of veterinary medicine or has received equivalent formal education, and who has a valid license to practice veterinary medicine within the State of Arkansas; (6) "Euthanasia" means the humane killing of an animal accomplished by a method that utilizes anesthesia produced by an agent that causes painless loss of consciousness and subsequent death, and administered by a licensed veterinarian or a euthanasia technician licensed by the United States Drug Enforcement Administration and certified by the Department of Health; (7) "Kennel" means an enterprise wherein or whereon the business of grooming or boarding dogs, or breeding dogs for sale, and selling such dogs, is carried on, and which does not in its usual course of business acquire dogs for resale to the public; (8) "Local government" means a city of the first class, a city of the second class, an incorporated town, or a county; (9) "Person" means any individual, partnership, firm, joint-stock company, corporation, association, trust, estate, or other legal entity; (10) "Records" of a retail pet store means: (A) The permanent record of each animal's health history showing the animal's vaccinations, inoculations, wormings, and other veterinary medical procedures performed on that animal; and (B) The permanent journal giving a perpetual, sequential listing of animals which are kept at the retail pet store for thirty (30) days or longer. The journal shall contain the animal's identifying number, arrival date, exit date, and disposition; (11) (A) "Retail pet store" means any room or group of rooms, run, cage, compartment, exhibition pen, or tether, any part of which is within the State of Arkansas, wherein any animal is sold or kept, displayed, or offered for sale, to the public. It excludes kennels and catteries which sell animals directly to consumers. Also excluded are duly authorized animal shelters and duly incorporated humane societies dedicated to the care of unwanted animals which make those animals available for adoption, whether or not a fee for such adoption is charged. (B) As used in this chapter, "retail pet store" includes its owners, officers, agents, operators, managers, and employees, and refers to any such enterprise whether in fact registered or not; and (12) "Secretary" means the Secretary of the Department of Health. Amended by Act 2023, No. 730,§ 1, eff. 8/1/2023. Amended by Act 2019, No. 910,§ 4829, eff. 7/1/2019. Acts 1991, No. 1225, § 3.

For the purposes of this chapter:

(1) "Animal" means a dog or cat of any age;

(2) "Authorized person" means the Secretary of the Department of Health or his or her delegate, or any law enforcement officer;

(3) "Cattery" means an enterprise wherein or whereon the business of grooming or boarding cats, or breeding cats for sale, and selling those cats, is carried on, and which does not in its usual course of business acquire cats for resale to the public;

(4) "Consumer" means any individual purchasing an animal from a retail pet store. A retail pet store shall not be considered a consumer;

(5) "D.V.M." means a person who has graduated from an accredited school of veterinary medicine or has received equivalent formal education, and who has a valid license to practice veterinary medicine within the State of Arkansas;

(6) "Euthanasia" means the humane killing of an animal accomplished by a method that utilizes anesthesia produced by an agent that causes painless loss of consciousness and subsequent death, and administered by a licensed veterinarian or a euthanasia technician licensed by the United States Drug Enforcement Administration and certified by the Department of Health;

(7) "Kennel" means an enterprise wherein or whereon the business of grooming or boarding dogs, or breeding dogs for sale, and selling such dogs, is carried on, and which does not in its usual course of business acquire dogs for resale to the public;

(8) "Local government" means a city of the first class, a city of the second class, an incorporated town, or a county;

(9) "Person" means any individual, partnership, firm, joint-stock company, corporation, association, trust, estate, or other legal entity;

(10) "Records" of a retail pet store means: (A) The permanent record of each animal's health history showing the animal's vaccinations, inoculations, wormings, and other veterinary medical procedures performed on that animal; and (B) The permanent journal giving a perpetual, sequential listing of animals which are kept at the retail pet store for thirty (30) days or longer. The journal shall contain the animal's identifying number, arrival date, exit date, and disposition;

(A) The permanent record of each animal's health history showing the animal's vaccinations, inoculations, wormings, and other veterinary medical procedures performed on that animal; and

(B) The permanent journal giving a perpetual, sequential listing of animals which are kept at the retail pet store for thirty (30) days or longer. The journal shall contain the animal's identifying number, arrival date, exit date, and disposition;

(11) (A) "Retail pet store" means any room or group of rooms, run, cage, compartment, exhibition pen, or tether, any part of which is within the State of Arkansas, wherein any animal is sold or kept, displayed, or offered for sale, to the public. It excludes kennels and catteries which sell animals directly to consumers. Also excluded are duly authorized animal shelters and duly incorporated humane societies dedicated to the care of unwanted animals which make those animals available for adoption, whether or not a fee for such adoption is charged. (B) As used in this chapter, "retail pet store" includes its owners, officers, agents, operators, managers, and employees, and refers to any such enterprise whether in fact registered or not; and

(A) "Retail pet store" means any room or group of rooms, run, cage, compartment, exhibition pen, or tether, any part of which is within the State of Arkansas, wherein any animal is sold or kept, displayed, or offered for sale, to the public. It excludes kennels and catteries which sell animals directly to consumers. Also excluded are duly authorized animal shelters and duly incorporated humane societies dedicated to the care of unwanted animals which make those animals available for adoption, whether or not a fee for such adoption is charged.

(B) As used in this chapter, "retail pet store" includes its owners, officers, agents, operators, managers, and employees, and refers to any such enterprise whether in fact registered or not; and

(12) "Secretary" means the Secretary of the Department of Health.

Amended by Act 2023, No. 730,§ 1, eff. 8/1/2023.

Amended by Act 2019, No. 910,§ 4829, eff. 7/1/2019.

Acts 1991, No. 1225, § 3.
Ark. Code Ann. § 4-76-104 — AR Code / Title 4 / Chapter 76 / Section 4-76-104
Form of contract
Status: in_force

Every contract between a performing rights society and a proprietor for the payment of royalties executed in this state shall: (1) Be in writing; (2) Be signed by the parties; and (3) Include at least the following information: (A) The proprietor's name and business address and the name and location of each place of business to which the contract applies; (B) The name and address of the performing rights society; (C) The duration of the contract; and (D) The schedule of rates and terms of the royalties to be collected under the contract, including any sliding scale or schedule for any increase or decrease of those rates for the duration of that contract. Acts 1997, No. 648, § 4.

Every contract between a performing rights society and a proprietor for the payment of royalties executed in this state shall:

(1) Be in writing;

(2) Be signed by the parties; and

(3) Include at least the following information: (A) The proprietor's name and business address and the name and location of each place of business to which the contract applies; (B) The name and address of the performing rights society; (C) The duration of the contract; and (D) The schedule of rates and terms of the royalties to be collected under the contract, including any sliding scale or schedule for any increase or decrease of those rates for the duration of that contract.

(A) The proprietor's name and business address and the name and location of each place of business to which the contract applies;

(B) The name and address of the performing rights society;

(C) The duration of the contract; and

(D) The schedule of rates and terms of the royalties to be collected under the contract, including any sliding scale or schedule for any increase or decrease of those rates for the duration of that contract.

Acts 1997, No. 648, § 4.
Ark. Code Ann. § 4-112-103 — AR Code / Title 4 / Chapter 112 / Section 4-112-103
Placement of security freeze
Status: in_force

(a) A consumer may request that a security freeze be placed on his or her consumer report by: (1) Sending his or her request in writing by mail to a consumer reporting agency; (2) Telephoning his or her request to a consumer reporting agency and providing over the telephone proper identification or certain personal identification information required by the consumer reporting agency; or (3) Electronically forwarding his or her request to a consumer reporting agency through a secure electronic connection or a secure electronic mail connection if the connection is made available by the consumer reporting agency. (b) A consumer reporting agency shall place a security freeze on a credit report of a consumer no later than three (3) business days after receiving from the consumer: (1) A request as provided in subsection (a) of this section; (2) Proper identification; and (3) Payment of the required fee, if applicable. (c) Within five (5) business days of the receipt of the information and any applicable fees under subsection (b) of this section, the consumer reporting agency shall: (1) Send a written confirmation of the placement of the security freeze to the consumer; and (2) Provide the consumer with a unique personal identification number or password to be used by the consumer when providing authorization for the release of his or her credit report for a specific period of time. (d) At the time a consumer requests a security freeze, the consumer reporting agency shall disclose the process: (1) Of placing a security freeze and temporarily lifting a security freeze; and (2) For allowing access to information from the credit report of the consumer for a period of time while the security freeze is in place. Acts 2007, No. 391, § 1; 2009, No. 223, § 1.

(a) A consumer may request that a security freeze be placed on his or her consumer report by: (1) Sending his or her request in writing by mail to a consumer reporting agency; (2) Telephoning his or her request to a consumer reporting agency and providing over the telephone proper identification or certain personal identification information required by the consumer reporting agency; or (3) Electronically forwarding his or her request to a consumer reporting agency through a secure electronic connection or a secure electronic mail connection if the connection is made available by the consumer reporting agency.

(1) Sending his or her request in writing by mail to a consumer reporting agency;

(2) Telephoning his or her request to a consumer reporting agency and providing over the telephone proper identification or certain personal identification information required by the consumer reporting agency; or

(3) Electronically forwarding his or her request to a consumer reporting agency through a secure electronic connection or a secure electronic mail connection if the connection is made available by the consumer reporting agency.

(b) A consumer reporting agency shall place a security freeze on a credit report of a consumer no later than three (3) business days after receiving from the consumer: (1) A request as provided in subsection (a) of this section; (2) Proper identification; and (3) Payment of the required fee, if applicable.

(1) A request as provided in subsection (a) of this section;

(2) Proper identification; and

(3) Payment of the required fee, if applicable.

(c) Within five (5) business days of the receipt of the information and any applicable fees under subsection (b) of this section, the consumer reporting agency shall: (1) Send a written confirmation of the placement of the security freeze to the consumer; and (2) Provide the consumer with a unique personal identification number or password to be used by the consumer when providing authorization for the release of his or her credit report for a specific period of time.

(1) Send a written confirmation of the placement of the security freeze to the consumer; and

(2) Provide the consumer with a unique personal identification number or password to be used by the consumer when providing authorization for the release of his or her credit report for a specific period of time.

(d) At the time a consumer requests a security freeze, the consumer reporting agency shall disclose the process: (1) Of placing a security freeze and temporarily lifting a security freeze; and (2) For allowing access to information from the credit report of the consumer for a period of time while the security freeze is in place.

(1) Of placing a security freeze and temporarily lifting a security freeze; and

(2) For allowing access to information from the credit report of the consumer for a period of time while the security freeze is in place.

Acts 2007, No. 391, § 1; 2009, No. 223, § 1.
Ark. Code Ann. § 4-26-803 — AR Code / Title 4 / Chapter 26 / Subchapter 8 / Section 4-26-803
Vacancies
Status: in_force

(a) (1) A vacancy on the board of directors shall exist when a director dies or resigns or when he or she is removed by the shareholders or by virtue of newly created directorship resulting from any increase in the authorized number of directors. (2) Any vacancy, other than a vacancy occurring through shareholders' action in removing a director, occurring in the board of directors may be filled by the affirmative vote of a majority of the remaining directors though less than a quorum of the board, unless it is otherwise provided in the articles of incorporation or bylaws, and the directors so chosen shall hold office until the next annual election and until their successors are duly elected and qualified, unless sooner displaced. (b) If by reason of death, resignation, or other cause, a corporation should at any time have no directors in office, then any shareholder or the executor or administrator of a deceased shareholder may call a special meeting of shareholders and, over his or her own signature, give notice of the meeting according to § 4-26-703 . Acts 1965, No. 576, § 38; A.S.A. 1947, § 64-303.

(a) (1) A vacancy on the board of directors shall exist when a director dies or resigns or when he or she is removed by the shareholders or by virtue of newly created directorship resulting from any increase in the authorized number of directors. (2) Any vacancy, other than a vacancy occurring through shareholders' action in removing a director, occurring in the board of directors may be filled by the affirmative vote of a majority of the remaining directors though less than a quorum of the board, unless it is otherwise provided in the articles of incorporation or bylaws, and the directors so chosen shall hold office until the next annual election and until their successors are duly elected and qualified, unless sooner displaced.

(1) A vacancy on the board of directors shall exist when a director dies or resigns or when he or she is removed by the shareholders or by virtue of newly created directorship resulting from any increase in the authorized number of directors.

(2) Any vacancy, other than a vacancy occurring through shareholders' action in removing a director, occurring in the board of directors may be filled by the affirmative vote of a majority of the remaining directors though less than a quorum of the board, unless it is otherwise provided in the articles of incorporation or bylaws, and the directors so chosen shall hold office until the next annual election and until their successors are duly elected and qualified, unless sooner displaced.

(b) If by reason of death, resignation, or other cause, a corporation should at any time have no directors in office, then any shareholder or the executor or administrator of a deceased shareholder may call a special meeting of shareholders and, over his or her own signature, give notice of the meeting according to § 4-26-703 .

Acts 1965, No. 576, § 38; A.S.A. 1947, § 64-303.
Ark. Code Ann. § 4-75-709 — AR Code / Title 4 / Chapter 75 / Subchapter 7 / Section 4-75-709
Combination sales
Status: in_force

(a) (1) In all advertisements, offers for sale, or sales involving two (2) or more items, at least one (1) of which items is cigarettes, at a combined price, and in all advertisements, offers for sale, or sales involving the giving of any gift or concession of any kind, whether coupons or otherwise, the wholesaler's or retailer's combined selling price shall not be below the cost to the wholesaler or the cost to the retailer, respectively, of the total of all articles, products, commodities, gifts, and concessions included in the transactions. (2) If any such articles, products, commodities, gifts, or concessions shall not be cigarettes, the basic cost thereof shall be determined in the manner provided in § 4-75-702(1) . (b) The redemption by a retailer of coupons supplied to consumers by manufacturers and redeemable from the retailer by the manufacturers is not a violation of this subchapter if the sum of the coupon and other consideration paid by the consumer is not below the cost to the retailer. (c) Any manufacturer's promotional allowance provided to a wholesaler or retailer may be passed on to the purchaser by the wholesaler or retailer without violating this subchapter if the sum of the manufacturer's promotional allowance and other consideration paid by the purchaser is not below the cost to the wholesaler or retailer, as the case may be. Acts 1951, No. 101, § 4; A.S.A. 1947, § 70-604; Acts 2003, No. 627, § 5; 2003, No. 1808, § 1.

(a) (1) In all advertisements, offers for sale, or sales involving two (2) or more items, at least one (1) of which items is cigarettes, at a combined price, and in all advertisements, offers for sale, or sales involving the giving of any gift or concession of any kind, whether coupons or otherwise, the wholesaler's or retailer's combined selling price shall not be below the cost to the wholesaler or the cost to the retailer, respectively, of the total of all articles, products, commodities, gifts, and concessions included in the transactions. (2) If any such articles, products, commodities, gifts, or concessions shall not be cigarettes, the basic cost thereof shall be determined in the manner provided in § 4-75-702(1) .

(1) In all advertisements, offers for sale, or sales involving two (2) or more items, at least one (1) of which items is cigarettes, at a combined price, and in all advertisements, offers for sale, or sales involving the giving of any gift or concession of any kind, whether coupons or otherwise, the wholesaler's or retailer's combined selling price shall not be below the cost to the wholesaler or the cost to the retailer, respectively, of the total of all articles, products, commodities, gifts, and concessions included in the transactions.

(2) If any such articles, products, commodities, gifts, or concessions shall not be cigarettes, the basic cost thereof shall be determined in the manner provided in § 4-75-702(1) .

(b) The redemption by a retailer of coupons supplied to consumers by manufacturers and redeemable from the retailer by the manufacturers is not a violation of this subchapter if the sum of the coupon and other consideration paid by the consumer is not below the cost to the retailer.

(c) Any manufacturer's promotional allowance provided to a wholesaler or retailer may be passed on to the purchaser by the wholesaler or retailer without violating this subchapter if the sum of the manufacturer's promotional allowance and other consideration paid by the purchaser is not below the cost to the wholesaler or retailer, as the case may be.

Acts 1951, No. 101, § 4; A.S.A. 1947, § 70-604; Acts 2003, No. 627, § 5; 2003, No. 1808, § 1.
Ark. Code Ann. § 4-38-407 — AR Code / Title 4 / Chapter 38 / Subchapter 4 / Section 4-38-407
Management of limited liability company
Status: in_force

(a) A limited liability company is a member-managed limited liability company unless the operating agreement: (1) expressly provides that: (A) the company is or will be "manager-managed"; (B) the company is or will be "managed by managers"; or (C) management of the company is or will be "vested in managers"; or (2) includes words of similar import. (b) In a member-managed limited liability company, the following rules apply: (1) Except as expressly provided in this chapter, the management and conduct of the company are vested in the members. (2) Each member has equal rights in the management and conduct of the company's activities and affairs. (3) A difference arising among members as to a matter in the ordinary course of the activities and affairs of the company may be decided by a majority of the members. (4) The affirmative vote or consent of all the members is required to: (A) undertake an act outside the ordinary course of the activities and affairs of the company; or (B) amend the operating agreement. (c) In a manager-managed limited liability company, the following rules apply: (1) Except as expressly provided in this chapter, any matter relating to the activities and affairs of the company is decided exclusively by the manager, or, if there is more than one manager, by a majority of the managers. (2) Each manager has equal rights in the management and conduct of the company's activities and affairs. (3) The affirmative vote or consent of all members is required to: (A) undertake an act outside the ordinary course of the company's activities and affairs; or (B) amend the operating agreement. (4) A manager may be chosen at any time by the affirmative vote or consent of a majority of the members and remains a manager until a successor has been chosen, unless the manager at an earlier time resigns, is removed, or dies, or, in the case of a manager that is not an individual, terminates. A manager may be removed at any time by the affirmative vote or consent of a majority of the members without notice or cause. (5) A person need not be a member to be a manager, but the dissociation of a member that is also a manager removes the person as a manager. If a person that is both a manager and a member ceases to be a manager, that cessation does not by itself dissociate the person as a member. (6) A person's ceasing to be a manager does not discharge any debt, obligation, or other liability to the limited liability company or members which the person incurred while a manager. (d) An action requiring the vote or consent of members under this chapter may be taken without a meeting, and a member may appoint a proxy or other agent to vote, consent, or otherwise act for the member by signing an appointing record, personally or by the member's agent. (e) The dissolution of a limited liability company does not affect the applicability of this section. However, a person that wrongfully causes dissolution of the company loses the right to participate in management as a member and a manager. (f) A limited liability company shall reimburse a member for an advance to the company beyond the amount of capital the member agreed to contribute. (g) A payment or advance made by a member which gives rise to a limited liability company obligation under subsection (f) or § 4-38-408(a) constitutes a loan to the company which accrues interest from the date of the payment or advance. (h) A member is not entitled to remuneration for services performed for a member-managed limited liability company, except for reasonable compensation for services rendered in winding up the activities of the company. Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.

(a) A limited liability company is a member-managed limited liability company unless the operating agreement: (1) expressly provides that: (A) the company is or will be "manager-managed"; (B) the company is or will be "managed by managers"; or (C) management of the company is or will be "vested in managers"; or (2) includes words of similar import.

(1) expressly provides that: (A) the company is or will be "manager-managed"; (B) the company is or will be "managed by managers"; or (C) management of the company is or will be "vested in managers"; or

(A) the company is or will be "manager-managed";

(B) the company is or will be "managed by managers"; or

(C) management of the company is or will be "vested in managers"; or

(2) includes words of similar import.

(b) In a member-managed limited liability company, the following rules apply: (1) Except as expressly provided in this chapter, the management and conduct of the company are vested in the members. (2) Each member has equal rights in the management and conduct of the company's activities and affairs. (3) A difference arising among members as to a matter in the ordinary course of the activities and affairs of the company may be decided by a majority of the members. (4) The affirmative vote or consent of all the members is required to: (A) undertake an act outside the ordinary course of the activities and affairs of the company; or (B) amend the operating agreement.

(1) Except as expressly provided in this chapter, the management and conduct of the company are vested in the members.

(2) Each member has equal rights in the management and conduct of the company's activities and affairs.

(3) A difference arising among members as to a matter in the ordinary course of the activities and affairs of the company may be decided by a majority of the members.

(4) The affirmative vote or consent of all the members is required to: (A) undertake an act outside the ordinary course of the activities and affairs of the company; or (B) amend the operating agreement.

(A) undertake an act outside the ordinary course of the activities and affairs of the company; or

(B) amend the operating agreement.

(c) In a manager-managed limited liability company, the following rules apply: (1) Except as expressly provided in this chapter, any matter relating to the activities and affairs of the company is decided exclusively by the manager, or, if there is more than one manager, by a majority of the managers. (2) Each manager has equal rights in the management and conduct of the company's activities and affairs. (3) The affirmative vote or consent of all members is required to: (A) undertake an act outside the ordinary course of the company's activities and affairs; or (B) amend the operating agreement. (4) A manager may be chosen at any time by the affirmative vote or consent of a majority of the members and remains a manager until a successor has been chosen, unless the manager at an earlier time resigns, is removed, or dies, or, in the case of a manager that is not an individual, terminates. A manager may be removed at any time by the affirmative vote or consent of a majority of the members without notice or cause. (5) A person need not be a member to be a manager, but the dissociation of a member that is also a manager removes the person as a manager. If a person that is both a manager and a member ceases to be a manager, that cessation does not by itself dissociate the person as a member. (6) A person's ceasing to be a manager does not discharge any debt, obligation, or other liability to the limited liability company or members which the person incurred while a manager.

(1) Except as expressly provided in this chapter, any matter relating to the activities and affairs of the company is decided exclusively by the manager, or, if there is more than one manager, by a majority of the managers.

(2) Each manager has equal rights in the management and conduct of the company's activities and affairs.

(3) The affirmative vote or consent of all members is required to: (A) undertake an act outside the ordinary course of the company's activities and affairs; or (B) amend the operating agreement.

(A) undertake an act outside the ordinary course of the company's activities and affairs; or

(B) amend the operating agreement.

(4) A manager may be chosen at any time by the affirmative vote or consent of a majority of the members and remains a manager until a successor has been chosen, unless the manager at an earlier time resigns, is removed, or dies, or, in the case of a manager that is not an individual, terminates. A manager may be removed at any time by the affirmative vote or consent of a majority of the members without notice or cause.

(5) A person need not be a member to be a manager, but the dissociation of a member that is also a manager removes the person as a manager. If a person that is both a manager and a member ceases to be a manager, that cessation does not by itself dissociate the person as a member.

(6) A person's ceasing to be a manager does not discharge any debt, obligation, or other liability to the limited liability company or members which the person incurred while a manager.

(d) An action requiring the vote or consent of members under this chapter may be taken without a meeting, and a member may appoint a proxy or other agent to vote, consent, or otherwise act for the member by signing an appointing record, personally or by the member's agent.

(e) The dissolution of a limited liability company does not affect the applicability of this section. However, a person that wrongfully causes dissolution of the company loses the right to participate in management as a member and a manager.

(f) A limited liability company shall reimburse a member for an advance to the company beyond the amount of capital the member agreed to contribute.

(g) A payment or advance made by a member which gives rise to a limited liability company obligation under subsection (f) or § 4-38-408(a) constitutes a loan to the company which accrues interest from the date of the payment or advance.

(h) A member is not entitled to remuneration for services performed for a member-managed limited liability company, except for reasonable compensation for services rendered in winding up the activities of the company.

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.
Ark. Code Ann. § 4-119-102 — AR Code / Title 4 / Chapter 119 / Section 4-119-102
Definitions
Status: in_force

As used in this chapter: (1) (A) "Consumer product" means any tangible personal property that: (i) Is distributed in commerce; and (ii) Is normally used for personal, family, or household purposes. (B) "Consumer product" includes property intended to be attached to or installed in any real property without regard to whether it is so attached or installed; (2) "High-volume third-party seller" means a participant in an online marketplace who is a third-party seller and who, in any continuous twelve-month period during the previous twenty-four (24) months, has entered into two hundred (200) or more discrete sales or transactions of new or unused consumer products resulting in the accumulation of an aggregate total of five thousand dollars ($5,000) or more in gross revenues; (3) "Online marketplace" means any electronically based or electronically accessed platform that: (A) Includes features that allow for, facilitate, or enable third-party sellers to engage in the sale, purchase, payment, storage, shipping, or delivery of a consumer product in the United States; and (B) Hosts one (1) or more third-party sellers; (4) "Seller" means a person who sells, offers to sell, or contracts to sell a consumer product through an online marketplace; (5) (A) "Third-party seller" means a seller, independent of an operator, facilitator, or owner of an online marketplace, who sells, offers to sell, or contracts to sell a consumer product in the United States through an online marketplace. (B) "Third-party seller" does not include a seller that: (i) Is a business entity that has made available to the general public the business entity's name, business address, and business contact information; (ii) Has an ongoing contractual relationship with the owner of an online marketplace to provide for the manufacture, distribution, wholesaling, or fulfillment of shipments of consumer products; and (iii) Has provided to the online marketplace identifying information, as described in § 4-119-103 , that has been verified according to § 4-119-103(b) ; and (6) "Verify" means to confirm information provided to an online marketplace under § 4-119-103 by the use of: (A) A third-party or proprietary identity verification system that has the capability to confirm a seller's name, email address, physical address, and telephone number; or (B) A combination of two-factor authentication, public records search, and the presentation of a government-issued identification. Added by Act 2021, No. 555,§ 1, eff. 7/28/2021.

As used in this chapter:

(1) (A) "Consumer product" means any tangible personal property that: (i) Is distributed in commerce; and (ii) Is normally used for personal, family, or household purposes. (B) "Consumer product" includes property intended to be attached to or installed in any real property without regard to whether it is so attached or installed;

(A) "Consumer product" means any tangible personal property that: (i) Is distributed in commerce; and (ii) Is normally used for personal, family, or household purposes.

(i) Is distributed in commerce; and

(ii) Is normally used for personal, family, or household purposes.

(B) "Consumer product" includes property intended to be attached to or installed in any real property without regard to whether it is so attached or installed;

(2) "High-volume third-party seller" means a participant in an online marketplace who is a third-party seller and who, in any continuous twelve-month period during the previous twenty-four (24) months, has entered into two hundred (200) or more discrete sales or transactions of new or unused consumer products resulting in the accumulation of an aggregate total of five thousand dollars ($5,000) or more in gross revenues;

(3) "Online marketplace" means any electronically based or electronically accessed platform that: (A) Includes features that allow for, facilitate, or enable third-party sellers to engage in the sale, purchase, payment, storage, shipping, or delivery of a consumer product in the United States; and (B) Hosts one (1) or more third-party sellers;

(A) Includes features that allow for, facilitate, or enable third-party sellers to engage in the sale, purchase, payment, storage, shipping, or delivery of a consumer product in the United States; and

(B) Hosts one (1) or more third-party sellers;

(4) "Seller" means a person who sells, offers to sell, or contracts to sell a consumer product through an online marketplace;

(5) (A) "Third-party seller" means a seller, independent of an operator, facilitator, or owner of an online marketplace, who sells, offers to sell, or contracts to sell a consumer product in the United States through an online marketplace. (B) "Third-party seller" does not include a seller that: (i) Is a business entity that has made available to the general public the business entity's name, business address, and business contact information; (ii) Has an ongoing contractual relationship with the owner of an online marketplace to provide for the manufacture, distribution, wholesaling, or fulfillment of shipments of consumer products; and (iii) Has provided to the online marketplace identifying information, as described in § 4-119-103 , that has been verified according to § 4-119-103(b) ; and

(A) "Third-party seller" means a seller, independent of an operator, facilitator, or owner of an online marketplace, who sells, offers to sell, or contracts to sell a consumer product in the United States through an online marketplace.

(B) "Third-party seller" does not include a seller that: (i) Is a business entity that has made available to the general public the business entity's name, business address, and business contact information; (ii) Has an ongoing contractual relationship with the owner of an online marketplace to provide for the manufacture, distribution, wholesaling, or fulfillment of shipments of consumer products; and (iii) Has provided to the online marketplace identifying information, as described in § 4-119-103 , that has been verified according to § 4-119-103(b) ; and

(i) Is a business entity that has made available to the general public the business entity's name, business address, and business contact information;

(ii) Has an ongoing contractual relationship with the owner of an online marketplace to provide for the manufacture, distribution, wholesaling, or fulfillment of shipments of consumer products; and

(iii) Has provided to the online marketplace identifying information, as described in § 4-119-103 , that has been verified according to § 4-119-103(b) ; and

(6) "Verify" means to confirm information provided to an online marketplace under § 4-119-103 by the use of: (A) A third-party or proprietary identity verification system that has the capability to confirm a seller's name, email address, physical address, and telephone number; or (B) A combination of two-factor authentication, public records search, and the presentation of a government-issued identification.

(A) A third-party or proprietary identity verification system that has the capability to confirm a seller's name, email address, physical address, and telephone number; or

(B) A combination of two-factor authentication, public records search, and the presentation of a government-issued identification.

Added by Act 2021, No. 555,§ 1, eff. 7/28/2021.
Ark. Code Ann. § 4-11-101 — AR Code / Title 4 / Chapter 11 / Section 4-11-101
Short title
Status: in_force

This chapter may be cited as Uniform Commercial Code-Virtual Currency of Arkansas. Added by Act 2021, No. 1078,§ 7, eff. 7/28/2021.

This chapter may be cited as Uniform Commercial Code-Virtual Currency of Arkansas.

Added by Act 2021, No. 1078,§ 7, eff. 7/28/2021.
Ark. Code Ann. § 4-74-111 — AR Code / Title 4 / Chapter 74 / Section 4-74-111
False representation concerning sale unlawful
Status: in_force

(a) It is unlawful for any person, firm, corporation, association, or other business entity to falsely represent that the person or entity is going out of business or for any person or entity to misrepresent the ownership of a business for the purpose of or in connection with the conduct of a going-out-of-business sale. (b) (1) Any going-out-of-business sale conducted in violation of this chapter shall constitute an unfair or deceptive act or practice as defined by the Deceptive Trade Practices Act, § 4-88-101 et seq. (2) All remedies, penalties, and authority granted to the Attorney General under the Deceptive Trade Practices Act, § 4-88-101 et seq., shall be available to the Attorney General for the enforcement of this chapter. Acts 1983, No. 297, § 7; A.S.A. 1947, § 71-5507; Acts 1993, No. 1057, § 1.

(a) It is unlawful for any person, firm, corporation, association, or other business entity to falsely represent that the person or entity is going out of business or for any person or entity to misrepresent the ownership of a business for the purpose of or in connection with the conduct of a going-out-of-business sale.

(b) (1) Any going-out-of-business sale conducted in violation of this chapter shall constitute an unfair or deceptive act or practice as defined by the Deceptive Trade Practices Act, § 4-88-101 et seq. (2) All remedies, penalties, and authority granted to the Attorney General under the Deceptive Trade Practices Act, § 4-88-101 et seq., shall be available to the Attorney General for the enforcement of this chapter.

(1) Any going-out-of-business sale conducted in violation of this chapter shall constitute an unfair or deceptive act or practice as defined by the Deceptive Trade Practices Act, § 4-88-101 et seq.

(2) All remedies, penalties, and authority granted to the Attorney General under the Deceptive Trade Practices Act, § 4-88-101 et seq., shall be available to the Attorney General for the enforcement of this chapter.

Acts 1983, No. 297, § 7; A.S.A. 1947, § 71-5507; Acts 1993, No. 1057, § 1.
Ark. Code Ann. § 4-38-804 — AR Code / Title 4 / Chapter 38 / Subchapter 8 / Section 4-38-804
Pleading
Status: in_force

In a derivative action, the complaint must state with particularity: (1) the date and content of plaintiff's demand and the response to the demand by the managers or other members; or (2) why demand should be excused as futile. Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.

In a derivative action, the complaint must state with particularity:

(1) the date and content of plaintiff's demand and the response to the demand by the managers or other members; or

(2) why demand should be excused as futile.

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.
Ark. Code Ann. § 4-18-306 — AR Code / Title 4 / Chapter 18 / Subchapter 3 / Section 4-18-306
Requirements for the method of sale of commodities
Status: in_force

The Uniform Regulation for the Method of Sale of Commodities as adopted by the National Conference on Weights and Measures and published in National Institute of Standards and Technology Handbook 130, "Uniform Laws and Regulations," and supplements thereto or revisions thereof, shall apply to the method of sale of commodities in the state, as adopted, or amended and adopted, by rule of the State Plant Board. Acts 2001, No. 587, § 6.

The Uniform Regulation for the Method of Sale of Commodities as adopted by the National Conference on Weights and Measures and published in National Institute of Standards and Technology Handbook 130, "Uniform Laws and Regulations," and supplements thereto or revisions thereof, shall apply to the method of sale of commodities in the state, as adopted, or amended and adopted, by rule of the State Plant Board.

Acts 2001, No. 587, § 6.
Ark. Code Ann. § 4-88-701 — AR Code / Title 4 / Chapter 88 / Subchapter 7 / Section 4-88-701
Short title
Status: in_force

This act shall be known and may be cited as the "Fair Gift Card Act". Acts 2007, No. 304, § 1.

This act shall be known and may be cited as the "Fair Gift Card Act".

Acts 2007, No. 304, § 1.
Ark. Code Ann. § 4-18-310 — AR Code / Title 4 / Chapter 18 / Subchapter 3 / Section 4-18-310
Requirements for type evaluation
Status: in_force

The Uniform Regulation for National Type Evaluation as adopted by the National Conference on Weights and Measures and published in National Institute of Standards and Technology Handbook 130, "Uniform Laws and Regulations," and supplements thereto or revisions thereof, shall apply to type evaluation in the state, as adopted, or amended and adopted, by rule of the State Plant Board. Acts 2001, No. 587, § 10.

The Uniform Regulation for National Type Evaluation as adopted by the National Conference on Weights and Measures and published in National Institute of Standards and Technology Handbook 130, "Uniform Laws and Regulations," and supplements thereto or revisions thereof, shall apply to type evaluation in the state, as adopted, or amended and adopted, by rule of the State Plant Board.

Acts 2001, No. 587, § 10.
Ark. Code Ann. § 4-38-401 — AR Code / Title 4 / Chapter 38 / Subchapter 4 / Section 4-38-401
Becoming member
Status: in_force

(a) If a limited liability company is to have only one member upon formation, the person becomes a member as agreed by that person and the organizer of the company. That person and the organizer may be, but need not be, different persons. If different, the organizer acts on behalf of the initial member. (b) If a limited liability company is to have more than one member upon formation, those persons become members as agreed by the persons before the formation of the company. The organizer acts on behalf of the persons in forming the company and may be, but need not be, one of the persons. (c) After formation of a limited liability company, a person becomes a member: (1) as provided in the operating agreement; (2) as the result of a transaction effective under § 4-38-1001 et seq.; (3) with the affirmative vote or consent of all the members; or (4) as provided in § 4-38-701(a)(3) . (d) A person may become a member without: (1) acquiring a transferable interest; or (2) making or being obligated to make a contribution to the limited liability company. Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.

(a) If a limited liability company is to have only one member upon formation, the person becomes a member as agreed by that person and the organizer of the company. That person and the organizer may be, but need not be, different persons. If different, the organizer acts on behalf of the initial member.

(b) If a limited liability company is to have more than one member upon formation, those persons become members as agreed by the persons before the formation of the company. The organizer acts on behalf of the persons in forming the company and may be, but need not be, one of the persons.

(c) After formation of a limited liability company, a person becomes a member: (1) as provided in the operating agreement; (2) as the result of a transaction effective under § 4-38-1001 et seq.; (3) with the affirmative vote or consent of all the members; or (4) as provided in § 4-38-701(a)(3) .

(1) as provided in the operating agreement;

(2) as the result of a transaction effective under § 4-38-1001 et seq.;

(3) with the affirmative vote or consent of all the members; or

(4) as provided in § 4-38-701(a)(3) .

(d) A person may become a member without: (1) acquiring a transferable interest; or (2) making or being obligated to make a contribution to the limited liability company.

(1) acquiring a transferable interest; or

(2) making or being obligated to make a contribution to the limited liability company.

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.
Ark. Code Ann. § 4-30-108 — AR Code / Title 4 / Chapter 30 / Subchapter 1 / Section 4-30-108
Articles of incorporation
Status: in_force

(a) The members shall sign and acknowledge written articles of incorporation which shall contain: (1) The name of the cooperative corporation; (2) The name and residences of the persons forming the cooperative corporation; (3) The purpose of the organization; (4) The principal place of business; (5) The amount of capital stock; (6) The number of shares and the par value of each share; (7) The number of directors and the names of those selected for the first term; and (8) The time for which the cooperative corporation is to continue if the cooperative corporation is not of perpetual duration. (b) The original articles of incorporation or a certified copy of them shall be filed with the Secretary of State, who shall return to the cooperative corporation a certified copy of them, with the date of filing and attested with the seal of his or her office. (c) For filing the articles of incorporation and amendments thereto under this subchapter, the same fees shall be paid to the Secretary of State as are now required under the general corporation law. Amended by Act 2017, No. 748,§ 3, eff. 8/1/2017. Acts 1921, No. 632, §§ 3-5; Pope's Dig., §§ 2264 -- 2266; A.S.A. 1947, §§ 64-1504 -- 64-1506.

(a) The members shall sign and acknowledge written articles of incorporation which shall contain: (1) The name of the cooperative corporation; (2) The name and residences of the persons forming the cooperative corporation; (3) The purpose of the organization; (4) The principal place of business; (5) The amount of capital stock; (6) The number of shares and the par value of each share; (7) The number of directors and the names of those selected for the first term; and (8) The time for which the cooperative corporation is to continue if the cooperative corporation is not of perpetual duration.

(1) The name of the cooperative corporation;

(2) The name and residences of the persons forming the cooperative corporation;

(3) The purpose of the organization;

(4) The principal place of business;

(5) The amount of capital stock;

(6) The number of shares and the par value of each share;

(7) The number of directors and the names of those selected for the first term; and

(8) The time for which the cooperative corporation is to continue if the cooperative corporation is not of perpetual duration.

(b) The original articles of incorporation or a certified copy of them shall be filed with the Secretary of State, who shall return to the cooperative corporation a certified copy of them, with the date of filing and attested with the seal of his or her office.

(c) For filing the articles of incorporation and amendments thereto under this subchapter, the same fees shall be paid to the Secretary of State as are now required under the general corporation law.

Amended by Act 2017, No. 748,§ 3, eff. 8/1/2017.

Acts 1921, No. 632, §§ 3-5; Pope's Dig., §§ 2264 -- 2266; A.S.A. 1947, §§ 64-1504 -- 64-1506.
Ark. Code Ann. § 4-89-105 — AR Code / Title 4 / Chapter 89 / Section 4-89-105
Damages
Status: in_force

For a violation which is subject to the provisions of this chapter, the consumer shall recover from the persons violating this chapter an amount equal to: (1) Ten percent (10%) of the transaction total or one hundred dollars ($100), whichever is greater; and (2) The actual damages, including any incidental, consequential, and special damages sustained by the consumer as a result of the violation. Acts 1973, No. 462, § 9; A.S.A. 1947, § 70-922.

For a violation which is subject to the provisions of this chapter, the consumer shall recover from the persons violating this chapter an amount equal to:

(1) Ten percent (10%) of the transaction total or one hundred dollars ($100), whichever is greater; and

(2) The actual damages, including any incidental, consequential, and special damages sustained by the consumer as a result of the violation.

Acts 1973, No. 462, § 9; A.S.A. 1947, § 70-922.
Ark. Code Ann. § 4-108-213 — AR Code / Title 4 / Chapter 108 / Subchapter 2 / Section 4-108-213
Rules to be unaffected by repeal of prior enabling statute
Status: in_force

The adoption of this subchapter or any of its provisions shall not affect any rules promulgated pursuant to the authority of any earlier enabling statute unless inconsistent with this subchapter or modified or revoked by the State Plant Board. Amended by Act 2019, No. 315,§ 147, eff. 7/24/2019. Acts 2001, No. 586, § 13.

The adoption of this subchapter or any of its provisions shall not affect any rules promulgated pursuant to the authority of any earlier enabling statute unless inconsistent with this subchapter or modified or revoked by the State Plant Board.

Amended by Act 2019, No. 315,§ 147, eff. 7/24/2019.

Acts 2001, No. 586, § 13.
Ark. Code Ann. § 4-27-1804 — AR Code / Title 4 / Chapter 27 / Subchapter 18 / Section 4-27-1804
Effect of share exchange
Status: in_force

When a share exchange takes effect, the shares of each acquired corporation are exchanged as provided in the plan and the former holders of the shares are entitled only to: (1) The exchange rights provided in the articles of share exchange; or (2) The rights of the former holders of the shares under § 4-27-1301 et seq. Acts 2009, No. 408, § 4.

When a share exchange takes effect, the shares of each acquired corporation are exchanged as provided in the plan and the former holders of the shares are entitled only to:

(1) The exchange rights provided in the articles of share exchange; or

(2) The rights of the former holders of the shares under § 4-27-1301 et seq.

Acts 2009, No. 408, § 4.
Ark. Code Ann. § 4-72-206 — AR Code / Title 4 / Chapter 72 / Subchapter 2 / Section 4-72-206
Unlawful practices of franchisors
Status: in_force

(a) It is a violation of this subchapter for a franchisor, through an officer, agent, or employee to engage directly or indirectly in any of the following practices: (1) To require a franchisee at the time of entering into a franchise arrangement to assent to a release, assignment, novation, waiver, or estoppel which would relieve a person from liability imposed by this subchapter; (2) To prohibit directly or indirectly the right of free association among franchisees for a lawful purpose; (3) To require or prohibit a change in management of a franchisee unless the requirement or prohibition of change is for a reasonable cause, which cause shall be stated in writing by the franchisor; (4) To restrict the sale of any equity or debenture issue or the transfer of any security of a franchisee or in any way prevent or attempt to prevent the transfer, sale, or issuance of shares of stock or debentures to employees, personnel of the franchisee, or heirs of the principal owner as long as basic financial requirements of the franchisor are complied with, if the sale, transfer, or issuance does not have the effect of accomplishing a sale of the franchise; (5) To provide any term or condition in a lease or other agreement ancillary or collateral to a franchise, which term or condition directly or indirectly violates this subchapter; (6) To refuse to deal with a franchise in a commercially reasonable manner and in good faith; or (7) To collect a percentage of the franchisee's sales as an advertising fee and not use these funds for the purpose of advertising the business conducted by the franchisee. (b) A condition, stipulation, or provision requiring the application of the law of another state in lieu of this subchapter is void. Amended by Act 2019, No. 835,§ 1, eff. 7/24/2019. Acts 1977, No. 355, § 7; A.S.A. 1947, § 70-813.

(a) It is a violation of this subchapter for a franchisor, through an officer, agent, or employee to engage directly or indirectly in any of the following practices: (1) To require a franchisee at the time of entering into a franchise arrangement to assent to a release, assignment, novation, waiver, or estoppel which would relieve a person from liability imposed by this subchapter; (2) To prohibit directly or indirectly the right of free association among franchisees for a lawful purpose; (3) To require or prohibit a change in management of a franchisee unless the requirement or prohibition of change is for a reasonable cause, which cause shall be stated in writing by the franchisor; (4) To restrict the sale of any equity or debenture issue or the transfer of any security of a franchisee or in any way prevent or attempt to prevent the transfer, sale, or issuance of shares of stock or debentures to employees, personnel of the franchisee, or heirs of the principal owner as long as basic financial requirements of the franchisor are complied with, if the sale, transfer, or issuance does not have the effect of accomplishing a sale of the franchise; (5) To provide any term or condition in a lease or other agreement ancillary or collateral to a franchise, which term or condition directly or indirectly violates this subchapter; (6) To refuse to deal with a franchise in a commercially reasonable manner and in good faith; or (7) To collect a percentage of the franchisee's sales as an advertising fee and not use these funds for the purpose of advertising the business conducted by the franchisee.

(1) To require a franchisee at the time of entering into a franchise arrangement to assent to a release, assignment, novation, waiver, or estoppel which would relieve a person from liability imposed by this subchapter;

(2) To prohibit directly or indirectly the right of free association among franchisees for a lawful purpose;

(3) To require or prohibit a change in management of a franchisee unless the requirement or prohibition of change is for a reasonable cause, which cause shall be stated in writing by the franchisor;

(4) To restrict the sale of any equity or debenture issue or the transfer of any security of a franchisee or in any way prevent or attempt to prevent the transfer, sale, or issuance of shares of stock or debentures to employees, personnel of the franchisee, or heirs of the principal owner as long as basic financial requirements of the franchisor are complied with, if the sale, transfer, or issuance does not have the effect of accomplishing a sale of the franchise;

(5) To provide any term or condition in a lease or other agreement ancillary or collateral to a franchise, which term or condition directly or indirectly violates this subchapter;

(6) To refuse to deal with a franchise in a commercially reasonable manner and in good faith; or

(7) To collect a percentage of the franchisee's sales as an advertising fee and not use these funds for the purpose of advertising the business conducted by the franchisee.

(b) A condition, stipulation, or provision requiring the application of the law of another state in lieu of this subchapter is void.

Amended by Act 2019, No. 835,§ 1, eff. 7/24/2019.

Acts 1977, No. 355, § 7; A.S.A. 1947, § 70-813.
Ark. Code Ann. § 4-26-611 — AR Code / Title 4 / Chapter 26 / Subchapter 6 / Section 4-26-611
Acquisition or disposition of corporation's own shares
Status: in_force

(a) A corporation shall not purchase directly or indirectly any of its own shares unless the purchase is authorized by this section and not prohibited by its articles of incorporation. (b) (1) A corporation may not purchase its own shares: (A) If there is a reasonable ground for believing that the corporation is, or as a result of such purchase would be, unable to meet its obligations as they become due in the ordinary course of business or that the present fair value of the remaining assets of the corporation would be less than one and one-fourth (1¼) times the amount of its liabilities to creditors; or (B) If the net assets remaining after the purchase would be less than the aggregate amount payable in the event of voluntary liquidation to the holders of shares having preferential rights to the assets of the corporation; or (C) If, in respect to purchases out of earned surplus, there are unpaid accrued preferential dividends on shares entitled to priority in respect to dividends over the shares to be purchased. (2) Subject to these three (3) restrictions, a corporation may purchase its own shares under the conditions set out in subsections (c)-(e) of this section next following. (c) (1) A corporation may purchase its own shares out of stated capital only in the following instances: (A) Where the purchase is to eliminate fractional shares; or (B) Where the purchase is to collect or compromise in good faith any indebtedness to the corporation; or (C) Where the purchase is to pay dissenting shareholders entitled to payment of their shares under the provisions of this chapter; or (D) Where the purchase is to effect, subject to the other provisions of this chapter, the retirement of its redeemable shares at not to exceed the redemption price and this purchase does not reduce the net assets below the stated capital remaining after giving effect to the cancellation of the purchased shares. (2) The purchases permitted under this subsection may be made solely under the authority of the board of directors. (d) A corporation may purchase its own shares out of unrestricted earned surplus, this purchase to be authorized by the board of directors, and no stockholders' authorization is required. (e) If the articles of incorporation so permit, the corporation, acting through its directors, may purchase its own shares out of capital surplus other than revaluation surplus. If the articles contain no such authorization but do not prohibit the purchase of such shares from capital surplus, then the corporation, on the authorization of its board of directors and of the holders of at least two-thirds (2/3) of all shares of each class, whether or not entitled to vote, voting separately, may purchase the corporation's shares from capital surplus, other than revaluation surplus. (f) In exercising the powers conferred by this section, it is not required that the shares purchased by the corporation must be purchased pro rata from all of its shareholders, or ratably from the holders of all the shares of any class or series. However, this section is not intended to validate stock purchases designed to effect fraudulent, improper, or unfair liquidating distributions to one (1) or more shareholders; or fraudulently, improperly, or unfairly designed to augment the voting power of any one (1) or more shareholders as against the voting power of other shareholders; or otherwise designed to effect any fraudulent, unfair, or improper discrimination in favor of any one (1) or more shareholders as against others. (g) A corporation shall be bound by any restrictions contained in its articles of incorporation in respect to the purchase of its own shares, and such articles may wholly prohibit such purchase. (h) Nonredeemable shares acquired by a corporation under the provisions of this section may be cancelled, held, pledged, sold, transferred, or otherwise disposed of by the corporation. The purchase by a corporation of its redeemable shares shall result in a cancellation of such shares according to § 4-26-614 . (i) (1) Except to the extent permitted under subsection (c) of this section, the purchase by a corporation of its own shares shall not effect a reduction of stated capital unless in connection therewith the stated capital is reduced pursuant to § 4-26-614 or § 4-26-612 . (2) Upon the purchase by a corporation of its own shares out of earned or capital surplus, such surplus account shall be reduced in an amount equal to the purchase price paid therefrom. (3) The impact upon the surplus accounts of the cancellation of treasury shares through a reduction of stated capital or from the resale of treasury shares is controlled by § 4-26-616(c) . Acts 1965, No. 576, § 5; A.S.A. 1947, § 64-105.

(a) A corporation shall not purchase directly or indirectly any of its own shares unless the purchase is authorized by this section and not prohibited by its articles of incorporation.

(b) (1) A corporation may not purchase its own shares: (A) If there is a reasonable ground for believing that the corporation is, or as a result of such purchase would be, unable to meet its obligations as they become due in the ordinary course of business or that the present fair value of the remaining assets of the corporation would be less than one and one-fourth (1¼) times the amount of its liabilities to creditors; or (B) If the net assets remaining after the purchase would be less than the aggregate amount payable in the event of voluntary liquidation to the holders of shares having preferential rights to the assets of the corporation; or (C) If, in respect to purchases out of earned surplus, there are unpaid accrued preferential dividends on shares entitled to priority in respect to dividends over the shares to be purchased. (2) Subject to these three (3) restrictions, a corporation may purchase its own shares under the conditions set out in subsections (c)-(e) of this section next following.

(1) A corporation may not purchase its own shares: (A) If there is a reasonable ground for believing that the corporation is, or as a result of such purchase would be, unable to meet its obligations as they become due in the ordinary course of business or that the present fair value of the remaining assets of the corporation would be less than one and one-fourth (1¼) times the amount of its liabilities to creditors; or (B) If the net assets remaining after the purchase would be less than the aggregate amount payable in the event of voluntary liquidation to the holders of shares having preferential rights to the assets of the corporation; or (C) If, in respect to purchases out of earned surplus, there are unpaid accrued preferential dividends on shares entitled to priority in respect to dividends over the shares to be purchased.

(A) If there is a reasonable ground for believing that the corporation is, or as a result of such purchase would be, unable to meet its obligations as they become due in the ordinary course of business or that the present fair value of the remaining assets of the corporation would be less than one and one-fourth (1¼) times the amount of its liabilities to creditors; or

(B) If the net assets remaining after the purchase would be less than the aggregate amount payable in the event of voluntary liquidation to the holders of shares having preferential rights to the assets of the corporation; or

(C) If, in respect to purchases out of earned surplus, there are unpaid accrued preferential dividends on shares entitled to priority in respect to dividends over the shares to be purchased.

(2) Subject to these three (3) restrictions, a corporation may purchase its own shares under the conditions set out in subsections (c)-(e) of this section next following.

(c) (1) A corporation may purchase its own shares out of stated capital only in the following instances: (A) Where the purchase is to eliminate fractional shares; or (B) Where the purchase is to collect or compromise in good faith any indebtedness to the corporation; or (C) Where the purchase is to pay dissenting shareholders entitled to payment of their shares under the provisions of this chapter; or (D) Where the purchase is to effect, subject to the other provisions of this chapter, the retirement of its redeemable shares at not to exceed the redemption price and this purchase does not reduce the net assets below the stated capital remaining after giving effect to the cancellation of the purchased shares. (2) The purchases permitted under this subsection may be made solely under the authority of the board of directors.

(1) A corporation may purchase its own shares out of stated capital only in the following instances: (A) Where the purchase is to eliminate fractional shares; or (B) Where the purchase is to collect or compromise in good faith any indebtedness to the corporation; or (C) Where the purchase is to pay dissenting shareholders entitled to payment of their shares under the provisions of this chapter; or (D) Where the purchase is to effect, subject to the other provisions of this chapter, the retirement of its redeemable shares at not to exceed the redemption price and this purchase does not reduce the net assets below the stated capital remaining after giving effect to the cancellation of the purchased shares.

(A) Where the purchase is to eliminate fractional shares; or

(B) Where the purchase is to collect or compromise in good faith any indebtedness to the corporation; or

(C) Where the purchase is to pay dissenting shareholders entitled to payment of their shares under the provisions of this chapter; or

(D) Where the purchase is to effect, subject to the other provisions of this chapter, the retirement of its redeemable shares at not to exceed the redemption price and this purchase does not reduce the net assets below the stated capital remaining after giving effect to the cancellation of the purchased shares.

(2) The purchases permitted under this subsection may be made solely under the authority of the board of directors.

(d) A corporation may purchase its own shares out of unrestricted earned surplus, this purchase to be authorized by the board of directors, and no stockholders' authorization is required.

(e) If the articles of incorporation so permit, the corporation, acting through its directors, may purchase its own shares out of capital surplus other than revaluation surplus. If the articles contain no such authorization but do not prohibit the purchase of such shares from capital surplus, then the corporation, on the authorization of its board of directors and of the holders of at least two-thirds (2/3) of all shares of each class, whether or not entitled to vote, voting separately, may purchase the corporation's shares from capital surplus, other than revaluation surplus.

(f) In exercising the powers conferred by this section, it is not required that the shares purchased by the corporation must be purchased pro rata from all of its shareholders, or ratably from the holders of all the shares of any class or series. However, this section is not intended to validate stock purchases designed to effect fraudulent, improper, or unfair liquidating distributions to one (1) or more shareholders; or fraudulently, improperly, or unfairly designed to augment the voting power of any one (1) or more shareholders as against the voting power of other shareholders; or otherwise designed to effect any fraudulent, unfair, or improper discrimination in favor of any one (1) or more shareholders as against others.

(g) A corporation shall be bound by any restrictions contained in its articles of incorporation in respect to the purchase of its own shares, and such articles may wholly prohibit such purchase.

(h) Nonredeemable shares acquired by a corporation under the provisions of this section may be cancelled, held, pledged, sold, transferred, or otherwise disposed of by the corporation. The purchase by a corporation of its redeemable shares shall result in a cancellation of such shares according to § 4-26-614 .

(i) (1) Except to the extent permitted under subsection (c) of this section, the purchase by a corporation of its own shares shall not effect a reduction of stated capital unless in connection therewith the stated capital is reduced pursuant to § 4-26-614 or § 4-26-612 . (2) Upon the purchase by a corporation of its own shares out of earned or capital surplus, such surplus account shall be reduced in an amount equal to the purchase price paid therefrom. (3) The impact upon the surplus accounts of the cancellation of treasury shares through a reduction of stated capital or from the resale of treasury shares is controlled by § 4-26-616(c) .

(1) Except to the extent permitted under subsection (c) of this section, the purchase by a corporation of its own shares shall not effect a reduction of stated capital unless in connection therewith the stated capital is reduced pursuant to § 4-26-614 or § 4-26-612 .

(2) Upon the purchase by a corporation of its own shares out of earned or capital surplus, such surplus account shall be reduced in an amount equal to the purchase price paid therefrom.

(3) The impact upon the surplus accounts of the cancellation of treasury shares through a reduction of stated capital or from the resale of treasury shares is controlled by § 4-26-616(c) .

Acts 1965, No. 576, § 5; A.S.A. 1947, § 64-105.
Ark. Code Ann. § 4-28-413 — AR Code / Title 4 / Chapter 28 / Subchapter 4 / Section 4-28-413
Nonresident organization - Service of process
Status: in_force

(a) A nonresident charitable organization, paid solicitor, fund-raising counsel, or professional telemarketer desiring to solicit funds within the State of Arkansas shall file with the Secretary of State an irrevocable written consent that in suits, proceedings, and actions growing out of the violation of this subchapter, or as a result of any activities conducted within this state giving rise to a cause of action, service on the Secretary of State shall be as valid and binding as if due service had been made on the charitable organization, paid solicitor, fund-raising counsel, or professional telemarketer. (b) (1) In case any process or pleadings are served upon the Secretary of State, they shall be in triplicate, one (1) copy of which shall be filed with the Secretary of State, one (1) copy of which shall be forwarded by the Secretary of State to the Attorney General, and the other immediately forwarded by the Secretary of State by registered or certified mail to the principal office or place of business of the nonresident charitable organization, paid solicitor, fund-raising counsel, or professional telemarketer. (2) Service placed upon the Secretary of State shall be returned no later than thirty (30) days. Amended by Act 2017, No. 727,§ 13, eff. 1/1/2018. Acts 1999, No. 1198, § 13.

(a) A nonresident charitable organization, paid solicitor, fund-raising counsel, or professional telemarketer desiring to solicit funds within the State of Arkansas shall file with the Secretary of State an irrevocable written consent that in suits, proceedings, and actions growing out of the violation of this subchapter, or as a result of any activities conducted within this state giving rise to a cause of action, service on the Secretary of State shall be as valid and binding as if due service had been made on the charitable organization, paid solicitor, fund-raising counsel, or professional telemarketer.

(b) (1) In case any process or pleadings are served upon the Secretary of State, they shall be in triplicate, one (1) copy of which shall be filed with the Secretary of State, one (1) copy of which shall be forwarded by the Secretary of State to the Attorney General, and the other immediately forwarded by the Secretary of State by registered or certified mail to the principal office or place of business of the nonresident charitable organization, paid solicitor, fund-raising counsel, or professional telemarketer. (2) Service placed upon the Secretary of State shall be returned no later than thirty (30) days.

(1) In case any process or pleadings are served upon the Secretary of State, they shall be in triplicate, one (1) copy of which shall be filed with the Secretary of State, one (1) copy of which shall be forwarded by the Secretary of State to the Attorney General, and the other immediately forwarded by the Secretary of State by registered or certified mail to the principal office or place of business of the nonresident charitable organization, paid solicitor, fund-raising counsel, or professional telemarketer.

(2) Service placed upon the Secretary of State shall be returned no later than thirty (30) days.

Amended by Act 2017, No. 727,§ 13, eff. 1/1/2018.

Acts 1999, No. 1198, § 13.
Ark. Code Ann. § 4-37-105 — AR Code / Title 4 / Chapter 37 / Subchapter 1 / Section 4-37-105
Governing law
Status: in_force

The law of this state governs: (1) the internal affairs of a protected series of a series limited liability company, including: (A) relations among any associated members of the protected series; (B) relations among the protected series and: (i) any associated member; (ii) the protected-series manager; or (iii) any protected-series transferee; (C) relations between any associated member and: (i) the protected-series manager: or (ii) any protected-series transferee; (D) the rights and duties of a protected-series manager; (E) governance decisions affecting the activities and affairs of the protected series and the conduct of those activities and affairs; and (F) procedures and conditions for becoming an associated member or protected-series transferee; (2) the relations between a protected series of a series limited liability company and each of the following: (A) the company; (B) another protected series of the company; (C) a member of the company which is not an associated member of the protected series; (D) a protected-series manager that is not a protected-series manager of the protected series; and (E) a protected-series transferee that is not a protected-series transferee of the protected series; (3) the liability of a person for a debt, obligation, or other liability of a protected series of a series limited liability company if the debt, obligation, or liability is asserted solely by reason of the person being or acting as: (A) an associated member, protected-series transferee, or protected-series manager of the protected series; (B) a member of the company which is not an associated member of the protected series; (C) a protected-series manager that is not a protected-series manager of the protected series; (D) a protected-series transferee that is not a protected-series transferee of the protected series; (E) a manager of the company; or (F) a transferee of a transferable interest of the company; (4) the liability of a series limited liability company for a debt, obligation, or other liability of a protected series of the company if the debt, obligation, or liability is asserted solely by reason of the company: (A) having delivered to the Secretary of State for filing under § 4-37-201(b) a protected series designation pertaining to the protected series or under § 4-37-201(d) or § 4-37-202(c) a statement of designation change pertaining to the protected series; (B) being or acting as a protected-series manager of the protected series; (C) having the protected series be or act as a manager of the company; or (D) owning a protected-series transferable interest of the protected series; and (5) the liability of a protected series of a series limited liability company for a debt, obligation, or other liability of the company or of another protected series of the company if the debt, obligation, or liability is asserted solely by reason of: (A) the protected series: (i) being a protected series of the company or having as a protected-series manager the company or another protected series of the company; or (ii) being or acting as a protected-series manager of another protected series of the company or a manager of the company; or (B) the company owning a protected-series transferable interest of the protected series. Added by Act 2019, No. 665,§ 1, eff. 7/24/2019.

The law of this state governs:

(1) the internal affairs of a protected series of a series limited liability company, including: (A) relations among any associated members of the protected series; (B) relations among the protected series and: (i) any associated member; (ii) the protected-series manager; or (iii) any protected-series transferee; (C) relations between any associated member and: (i) the protected-series manager: or (ii) any protected-series transferee; (D) the rights and duties of a protected-series manager; (E) governance decisions affecting the activities and affairs of the protected series and the conduct of those activities and affairs; and (F) procedures and conditions for becoming an associated member or protected-series transferee;

(A) relations among any associated members of the protected series;

(B) relations among the protected series and: (i) any associated member; (ii) the protected-series manager; or (iii) any protected-series transferee;

(i) any associated member;

(ii) the protected-series manager; or

(iii) any protected-series transferee;

(C) relations between any associated member and: (i) the protected-series manager: or (ii) any protected-series transferee;

(i) the protected-series manager: or

(ii) any protected-series transferee;

(D) the rights and duties of a protected-series manager;

(E) governance decisions affecting the activities and affairs of the protected series and the conduct of those activities and affairs; and

(F) procedures and conditions for becoming an associated member or protected-series transferee;

(2) the relations between a protected series of a series limited liability company and each of the following: (A) the company; (B) another protected series of the company; (C) a member of the company which is not an associated member of the protected series; (D) a protected-series manager that is not a protected-series manager of the protected series; and (E) a protected-series transferee that is not a protected-series transferee of the protected series;

(A) the company;

(B) another protected series of the company;

(C) a member of the company which is not an associated member of the protected series;

(D) a protected-series manager that is not a protected-series manager of the protected series; and

(E) a protected-series transferee that is not a protected-series transferee of the protected series;

(3) the liability of a person for a debt, obligation, or other liability of a protected series of a series limited liability company if the debt, obligation, or liability is asserted solely by reason of the person being or acting as: (A) an associated member, protected-series transferee, or protected-series manager of the protected series; (B) a member of the company which is not an associated member of the protected series; (C) a protected-series manager that is not a protected-series manager of the protected series; (D) a protected-series transferee that is not a protected-series transferee of the protected series; (E) a manager of the company; or (F) a transferee of a transferable interest of the company;

(A) an associated member, protected-series transferee, or protected-series manager of the protected series;

(B) a member of the company which is not an associated member of the protected series;

(C) a protected-series manager that is not a protected-series manager of the protected series;

(D) a protected-series transferee that is not a protected-series transferee of the protected series;

(E) a manager of the company; or

(F) a transferee of a transferable interest of the company;

(4) the liability of a series limited liability company for a debt, obligation, or other liability of a protected series of the company if the debt, obligation, or liability is asserted solely by reason of the company: (A) having delivered to the Secretary of State for filing under § 4-37-201(b) a protected series designation pertaining to the protected series or under § 4-37-201(d) or § 4-37-202(c) a statement of designation change pertaining to the protected series; (B) being or acting as a protected-series manager of the protected series; (C) having the protected series be or act as a manager of the company; or (D) owning a protected-series transferable interest of the protected series; and

(A) having delivered to the Secretary of State for filing under § 4-37-201(b) a protected series designation pertaining to the protected series or under § 4-37-201(d) or § 4-37-202(c) a statement of designation change pertaining to the protected series;

(B) being or acting as a protected-series manager of the protected series;

(C) having the protected series be or act as a manager of the company; or

(D) owning a protected-series transferable interest of the protected series; and

(5) the liability of a protected series of a series limited liability company for a debt, obligation, or other liability of the company or of another protected series of the company if the debt, obligation, or liability is asserted solely by reason of: (A) the protected series: (i) being a protected series of the company or having as a protected-series manager the company or another protected series of the company; or (ii) being or acting as a protected-series manager of another protected series of the company or a manager of the company; or (B) the company owning a protected-series transferable interest of the protected series.

(A) the protected series: (i) being a protected series of the company or having as a protected-series manager the company or another protected series of the company; or (ii) being or acting as a protected-series manager of another protected series of the company or a manager of the company; or

(i) being a protected series of the company or having as a protected-series manager the company or another protected series of the company; or

(ii) being or acting as a protected-series manager of another protected series of the company or a manager of the company; or

(B) the company owning a protected-series transferable interest of the protected series.

Added by Act 2019, No. 665,§ 1, eff. 7/24/2019.
Ark. Code Ann. § 4-75-903 — AR Code / Title 4 / Chapter 75 / Subchapter 9 / Section 4-75-903
Penalties
Status: in_force

Any person violating or failing to comply with the provisions of this subchapter shall be guilty of a violation and upon conviction shall be subject to a fine of one hundred dollars ($100) for each day the violation or noncompliance continues. Acts 1981, No. 606, § 5; A.S.A. 1947, § 70-1105; Acts 2005, No. 1994, § 42.

Any person violating or failing to comply with the provisions of this subchapter shall be guilty of a violation and upon conviction shall be subject to a fine of one hundred dollars ($100) for each day the violation or noncompliance continues.

Acts 1981, No. 606, § 5; A.S.A. 1947, § 70-1105; Acts 2005, No. 1994, § 42.
Ark. Code Ann. § 4-28-607 — AR Code / Title 4 / Chapter 28 / Subchapter 6 / Section 4-28-607
Statement of authority as to real property
Status: in_force

(a) In this section, "statement of authority" means a statement authorizing a person to transfer an interest in real property held in the name of an unincorporated nonprofit association. (b) An interest in real property held in the name of an unincorporated nonprofit association may be transferred by a person authorized to do so in a statement of authority recorded by the association in the office in the county in which a transfer of the property would be recorded. (c) A statement of authority must set forth: (1) the name of the unincorporated nonprofit association; (2) the address in this state, including the street address, if any, of the association or, if the association does not have an address in this state, its out-of-state address; (3) that the association is an unincorporated nonprofit association; and (4) the name, title, or position of a person authorized to transfer an interest in real property held in the name of the association. (d) A statement of authority must be executed in the same manner as an affidavit by a person other than the person authorized in the statement to transfer the interest. (e) A filing officer may collect a fee for recording a statement of authority in the amount authorized for recording a transfer of real property. (f) A document amending, revoking, or canceling a statement of authority or stating that the statement is unauthorized or erroneous must meet the requirements for executing and recording an original statement. (g) Unless canceled earlier, a recorded statement of authority and its most recent amendment expire five years after the date of the most recent recording. (h) If the record title to real property is in the name of an unincorporated nonprofit association and the statement of authority is recorded in the office of the county in which a transfer of the property would be recorded, the authority of the person named in the statement to transfer is conclusive in favor of a person that gives value without notice that the person lacks authority. Acts 2011, No. 202, § 2.

(a) In this section, "statement of authority" means a statement authorizing a person to transfer an interest in real property held in the name of an unincorporated nonprofit association.

(b) An interest in real property held in the name of an unincorporated nonprofit association may be transferred by a person authorized to do so in a statement of authority recorded by the association in the office in the county in which a transfer of the property would be recorded.

(c) A statement of authority must set forth: (1) the name of the unincorporated nonprofit association; (2) the address in this state, including the street address, if any, of the association or, if the association does not have an address in this state, its out-of-state address; (3) that the association is an unincorporated nonprofit association; and (4) the name, title, or position of a person authorized to transfer an interest in real property held in the name of the association.

(1) the name of the unincorporated nonprofit association;

(2) the address in this state, including the street address, if any, of the association or, if the association does not have an address in this state, its out-of-state address;

(3) that the association is an unincorporated nonprofit association; and

(4) the name, title, or position of a person authorized to transfer an interest in real property held in the name of the association.

(d) A statement of authority must be executed in the same manner as an affidavit by a person other than the person authorized in the statement to transfer the interest.

(e) A filing officer may collect a fee for recording a statement of authority in the amount authorized for recording a transfer of real property.

(f) A document amending, revoking, or canceling a statement of authority or stating that the statement is unauthorized or erroneous must meet the requirements for executing and recording an original statement.

(g) Unless canceled earlier, a recorded statement of authority and its most recent amendment expire five years after the date of the most recent recording.

(h) If the record title to real property is in the name of an unincorporated nonprofit association and the statement of authority is recorded in the office of the county in which a transfer of the property would be recorded, the authority of the person named in the statement to transfer is conclusive in favor of a person that gives value without notice that the person lacks authority.

Acts 2011, No. 202, § 2.
Ark. Code Ann. § 4-90-407 — AR Code / Title 4 / Chapter 90 / Subchapter 4 / Section 4-90-407
Refunds
Status: in_force

(a) (1) Refunds shall be made to the consumer and lienholder of record, if any, as their interests may appear. (2) If applicable, refunds shall be made to the lessor and lessee as follows: (A) The lessee shall receive the lessee cost less a reasonable offset for use; and (B) The lessor shall receive the lease price less the aggregate deposit and rental payments previously paid to the lessor for the leased vehicle. (b) If the manufacturer makes a refund to the lessor or lessee pursuant to this subchapter, the consumer's lease agreement with the lessor shall be terminated upon payment of the refund and no penalty for early termination shall be assessed. (c) If a replaced vehicle was financed by the manufacturer, its subsidiary, or agent, the manufacturer, subsidiary, or agent may not require the buyer to enter into any refinancing agreement concerning a replacement vehicle that would create any financial obligations upon the buyer beyond those of the original financing agreement. Acts 1993, No. 285, § 7; 1993, No. 297, § 7.

(a) (1) Refunds shall be made to the consumer and lienholder of record, if any, as their interests may appear. (2) If applicable, refunds shall be made to the lessor and lessee as follows: (A) The lessee shall receive the lessee cost less a reasonable offset for use; and (B) The lessor shall receive the lease price less the aggregate deposit and rental payments previously paid to the lessor for the leased vehicle.

(1) Refunds shall be made to the consumer and lienholder of record, if any, as their interests may appear.

(2) If applicable, refunds shall be made to the lessor and lessee as follows: (A) The lessee shall receive the lessee cost less a reasonable offset for use; and (B) The lessor shall receive the lease price less the aggregate deposit and rental payments previously paid to the lessor for the leased vehicle.

(A) The lessee shall receive the lessee cost less a reasonable offset for use; and

(B) The lessor shall receive the lease price less the aggregate deposit and rental payments previously paid to the lessor for the leased vehicle.

(b) If the manufacturer makes a refund to the lessor or lessee pursuant to this subchapter, the consumer's lease agreement with the lessor shall be terminated upon payment of the refund and no penalty for early termination shall be assessed.

(c) If a replaced vehicle was financed by the manufacturer, its subsidiary, or agent, the manufacturer, subsidiary, or agent may not require the buyer to enter into any refinancing agreement concerning a replacement vehicle that would create any financial obligations upon the buyer beyond those of the original financing agreement.

Acts 1993, No. 285, § 7; 1993, No. 297, § 7.
Ark. Code Ann. § 4-42-707 — AR Code / Title 4 / Chapter 42 / Subchapter 7 / Section 4-42-707
Use of fictitious names
Status: in_force

(a) No domestic or foreign registered limited liability partnership shall conduct any business in this state under a fictitious name unless it first files with the Secretary of State a form supplied or approved by the Secretary of State giving the following information: (1) The fictitious name under which business is being or will be conducted by the applicant registered limited liability partnership; (2) A brief statement of the character of business to be conducted under the fictitious name; and (3) The name of the registered limited liability partnership, state of organization, and location, giving city and street address, of the registered office in the state of the applicant registered limited liability partnership. (b) Each such form shall be executed, without verification, in duplicate and filed with the Secretary of State. The Secretary of State shall retain one (1) counterpart and the other counterpart, bearing the file marks of the Secretary of State, shall be returned to the registered limited liability partnership. However, the Secretary of State shall not accept such filing if the proposed fictitious name is not distinguishable from the name of any domestic corporation, limited liability company, limited partnership, limited liability partnership, or any other entity registered with the Secretary of State, or any such foreign entity authorized to do business in the state or any name reserved or registered under § 4-27-402 , § 4-27-403 , § 4-38-113 , § 4-38-114 , or § 4-47-109 . (c) Copies of such filed forms, certified by the respective filing officers, shall be admitted in evidence where the question of filing may be material. (d) If, after a filing under this section, the applicant registered limited liability partnership is dissolved, or, being a foreign registered limited liability partnership, surrenders or forfeits its rights to do business in Arkansas or, whether a domestic or foreign registered limited liability partnership, ceases to do business in Arkansas under the specified fictitious name, such registered limited liability partnership shall be obligated to file with the Secretary of State a cancellation of its privilege under this section. If such cancellation is not filed, the Secretary of State, upon satisfactory evidence, may cancel such privilege. (e) If a registered limited liability partnership which has not filed under this section has heretofore or shall hereafter become a party to any contract, deed, conveyance, assignment, or instrument of encumbrance in which such registered limited liability partnership is referred to exclusively by a fictitious name, the obligations imposed upon such registered limited liability partnership under said instrument and the right sought to be conferred upon third parties thereunder may be enforced against it; but the rights accruing to such registered limited liability partnership under said instrument may not be enforced by the registered limited liability partnership in the courts of this state until it complies with this section and pays to the Treasurer of State a civil penalty of three hundred dollars ($300), and in any suit by a registered limited liability partnership upon an instrument which identified it exclusively by a fictitious name, the registered limited liability partnership shall be required to allege compliance with this section. (f) Compliance with this section does not give a registered limited liability partnership an exclusive right to the use of the fictitious name, and the registration of a fictitious name under this section will not bar the use of the same name as the name of any domestic entity or any foreign entity authorized to do business in this state. But this chapter is not intended to bar any aggrieved party, in such a situation, from applying for equitable relief under principles of fair trade law. Amended by Act 2023, No. 256,§ 10, eff. 8/1/2023. Amended by Act 2021, No. 1041,§ 27, eff. 7/28/2021. Acts 1999, No. 1528, § 5; 2007, No. 15, § 4.

(a) No domestic or foreign registered limited liability partnership shall conduct any business in this state under a fictitious name unless it first files with the Secretary of State a form supplied or approved by the Secretary of State giving the following information: (1) The fictitious name under which business is being or will be conducted by the applicant registered limited liability partnership; (2) A brief statement of the character of business to be conducted under the fictitious name; and (3) The name of the registered limited liability partnership, state of organization, and location, giving city and street address, of the registered office in the state of the applicant registered limited liability partnership.

(1) The fictitious name under which business is being or will be conducted by the applicant registered limited liability partnership;

(2) A brief statement of the character of business to be conducted under the fictitious name; and

(3) The name of the registered limited liability partnership, state of organization, and location, giving city and street address, of the registered office in the state of the applicant registered limited liability partnership.

(b) Each such form shall be executed, without verification, in duplicate and filed with the Secretary of State. The Secretary of State shall retain one (1) counterpart and the other counterpart, bearing the file marks of the Secretary of State, shall be returned to the registered limited liability partnership. However, the Secretary of State shall not accept such filing if the proposed fictitious name is not distinguishable from the name of any domestic corporation, limited liability company, limited partnership, limited liability partnership, or any other entity registered with the Secretary of State, or any such foreign entity authorized to do business in the state or any name reserved or registered under § 4-27-402 , § 4-27-403 , § 4-38-113 , § 4-38-114 , or § 4-47-109 .

(c) Copies of such filed forms, certified by the respective filing officers, shall be admitted in evidence where the question of filing may be material.

(d) If, after a filing under this section, the applicant registered limited liability partnership is dissolved, or, being a foreign registered limited liability partnership, surrenders or forfeits its rights to do business in Arkansas or, whether a domestic or foreign registered limited liability partnership, ceases to do business in Arkansas under the specified fictitious name, such registered limited liability partnership shall be obligated to file with the Secretary of State a cancellation of its privilege under this section. If such cancellation is not filed, the Secretary of State, upon satisfactory evidence, may cancel such privilege.

(e) If a registered limited liability partnership which has not filed under this section has heretofore or shall hereafter become a party to any contract, deed, conveyance, assignment, or instrument of encumbrance in which such registered limited liability partnership is referred to exclusively by a fictitious name, the obligations imposed upon such registered limited liability partnership under said instrument and the right sought to be conferred upon third parties thereunder may be enforced against it; but the rights accruing to such registered limited liability partnership under said instrument may not be enforced by the registered limited liability partnership in the courts of this state until it complies with this section and pays to the Treasurer of State a civil penalty of three hundred dollars ($300), and in any suit by a registered limited liability partnership upon an instrument which identified it exclusively by a fictitious name, the registered limited liability partnership shall be required to allege compliance with this section.

(f) Compliance with this section does not give a registered limited liability partnership an exclusive right to the use of the fictitious name, and the registration of a fictitious name under this section will not bar the use of the same name as the name of any domestic entity or any foreign entity authorized to do business in this state. But this chapter is not intended to bar any aggrieved party, in such a situation, from applying for equitable relief under principles of fair trade law.

Amended by Act 2023, No. 256,§ 10, eff. 8/1/2023.

Amended by Act 2021, No. 1041,§ 27, eff. 7/28/2021.

Acts 1999, No. 1528, § 5; 2007, No. 15, § 4.
Ark. Code Ann. § 4-25-102 — AR Code / Title 4 / Chapter 25 / Section 4-25-102
Corporate security or surety bonds
Status: in_force

(a) Except as provided in § 23-37-314 , § 23-37-511 [repealed], § 23-37-603 [repealed], § 23-39-505 , § 23-42-305 , or § 23-55-204 , if the laws of this state provide for the furnishing of a corporate security or surety bond to assure financial responsibility, the person, firm, or corporation required to provide the bond, in lieu of providing the corporate security or surety bond, may furnish the principal amount of at least the amount of the bond to be provided in the form of: (1) Certificates of deposit issued by Arkansas banks and savings and loan associations; or (2) Direct general obligation securities issued by: (A) The State of Arkansas; (B) An agency or instrumentality of the State of Arkansas; (C) A political subdivision of this state; (D) The United States; or (E) An agency of the United States. (b) It is not the intention of this section to prohibit the furnishing of personal bond or the furnishing of a property or other bond in any other such manner as is now provided by law. (c) This section shall not apply to banks, savings and loan associations, any case where federal law requires a corporate surety bond, or in any case where performance of contractual obligations is required on the part of the person required to provide bond. (d) Every governmental agency affected by this section is authorized and directed to issue such rules as are necessary and appropriate for the carrying out of this section. Acts 1979, No. 634, §§ 1, 2; A.S.A. 1947, §§ 66-4105, 66-4106; Acts 2009, No. 535, § 1.

(a) Except as provided in § 23-37-314 , § 23-37-511 [repealed], § 23-37-603 [repealed], § 23-39-505 , § 23-42-305 , or § 23-55-204 , if the laws of this state provide for the furnishing of a corporate security or surety bond to assure financial responsibility, the person, firm, or corporation required to provide the bond, in lieu of providing the corporate security or surety bond, may furnish the principal amount of at least the amount of the bond to be provided in the form of: (1) Certificates of deposit issued by Arkansas banks and savings and loan associations; or (2) Direct general obligation securities issued by: (A) The State of Arkansas; (B) An agency or instrumentality of the State of Arkansas; (C) A political subdivision of this state; (D) The United States; or (E) An agency of the United States.

(1) Certificates of deposit issued by Arkansas banks and savings and loan associations; or

(2) Direct general obligation securities issued by: (A) The State of Arkansas; (B) An agency or instrumentality of the State of Arkansas; (C) A political subdivision of this state; (D) The United States; or (E) An agency of the United States.

(A) The State of Arkansas;

(B) An agency or instrumentality of the State of Arkansas;

(C) A political subdivision of this state;

(D) The United States; or

(E) An agency of the United States.

(b) It is not the intention of this section to prohibit the furnishing of personal bond or the furnishing of a property or other bond in any other such manner as is now provided by law.

(c) This section shall not apply to banks, savings and loan associations, any case where federal law requires a corporate surety bond, or in any case where performance of contractual obligations is required on the part of the person required to provide bond.

(d) Every governmental agency affected by this section is authorized and directed to issue such rules as are necessary and appropriate for the carrying out of this section.

Acts 1979, No. 634, §§ 1, 2; A.S.A. 1947, §§ 66-4105, 66-4106; Acts 2009, No. 535, § 1.
Ark. Code Ann. § 4-47-607 — AR Code / Title 4 / Chapter 47 / Subchapter 6 / Section 4-47-607
Liability to other persons of person dissociated as general partner
Status: in_force

(a) A person's dissociation as a general partner does not of itself discharge the person's liability as a general partner for an obligation of the limited partnership incurred before dissociation. Except as otherwise provided in subsections (b) and (c), the person is not liable for a limited partnership's obligation incurred after dissociation. (b) A person whose dissociation as a general partner resulted in a dissolution and winding up of the limited partnership's activities is liable to the same extent as a general partner under § 4-47-404 on an obligation incurred by the limited partnership under § 4-47-804 . (c) A person that has dissociated as a general partner but whose dissociation did not result in a dissolution and winding up of the limited partnership's activities is liable on a transaction entered into by the limited partnership after the dissociation only if: (1) a general partner would be liable on the transaction; and (2) at the time the other party enters into the transaction: (A) less than two years has passed since the dissociation; and (B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner. (d) By agreement with a creditor of a limited partnership and the limited partnership, a person dissociated as a general partner may be released from liability for an obligation of the limited partnership. (e) A person dissociated as a general partner is released from liability for an obligation of the limited partnership if the limited partnership's creditor, with notice of the person's dissociation as a general partner but without the person's consent, agrees to a material alteration in the nature or time of payment of the obligation. Acts 2007, No. 15, § 1.

(a) A person's dissociation as a general partner does not of itself discharge the person's liability as a general partner for an obligation of the limited partnership incurred before dissociation. Except as otherwise provided in subsections (b) and (c), the person is not liable for a limited partnership's obligation incurred after dissociation.

(b) A person whose dissociation as a general partner resulted in a dissolution and winding up of the limited partnership's activities is liable to the same extent as a general partner under § 4-47-404 on an obligation incurred by the limited partnership under § 4-47-804 .

(c) A person that has dissociated as a general partner but whose dissociation did not result in a dissolution and winding up of the limited partnership's activities is liable on a transaction entered into by the limited partnership after the dissociation only if: (1) a general partner would be liable on the transaction; and (2) at the time the other party enters into the transaction: (A) less than two years has passed since the dissociation; and (B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner.

(1) a general partner would be liable on the transaction; and

(2) at the time the other party enters into the transaction: (A) less than two years has passed since the dissociation; and (B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner.

(A) less than two years has passed since the dissociation; and

(B) the other party does not have notice of the dissociation and reasonably believes that the person is a general partner.

(d) By agreement with a creditor of a limited partnership and the limited partnership, a person dissociated as a general partner may be released from liability for an obligation of the limited partnership.

(e) A person dissociated as a general partner is released from liability for an obligation of the limited partnership if the limited partnership's creditor, with notice of the person's dissociation as a general partner but without the person's consent, agrees to a material alteration in the nature or time of payment of the obligation.

Acts 2007, No. 15, § 1.
Ark. Code Ann. § 4-32-401 — AR Code / Title 4 / Chapter 32 / Subchapter 4 / Section 4-32-401
through 4-32-405 - [Repealed]
Status: repealed

Repealed by Act 2021, No. 1041,§ 1, eff. 7/28/2021. Acts 1993, No. 1003, § 401; 1997, No. 479, § 6.

Repealed by Act 2021, No. 1041,§ 1, eff. 7/28/2021.

Acts 1993, No. 1003, § 401; 1997, No. 479, § 6.
Ark. Code Ann. § 4-90-301 — AR Code / Title 4 / Chapter 90 / Subchapter 3 / Section 4-90-301
Legislative intent
Status: in_force

This subchapter is intended to apply only to parts that are aftermarket crash parts as defined in this subchapter and to the documents prepared in the repair estimate process. It is not intended to apply to any mechanical automotive parts or used parts of any kind or to any invoice or final invoicing forms. Acts 1991, No. 1209, § 5.

This subchapter is intended to apply only to parts that are aftermarket crash parts as defined in this subchapter and to the documents prepared in the repair estimate process. It is not intended to apply to any mechanical automotive parts or used parts of any kind or to any invoice or final invoicing forms.

Acts 1991, No. 1209, § 5.
Ark. Code Ann. § 4-47-903 — AR Code / Title 4 / Chapter 47 / Subchapter 9 / Section 4-47-903
Activities not constituting transacting business
Status: in_force

(a) Activities of a foreign limited partnership which do not constitute transacting business in this State within the meaning of this chapter include: (1) maintaining, defending, and settling an action or proceeding; (2) holding meetings of its partners or carrying on any other activity concerning its internal affairs; (3) maintaining accounts in financial institutions; (4) maintaining offices or agencies for the transfer, exchange, and registration of the foreign limited partnership's own securities or maintaining trustees or depositories with respect to those securities; (5) selling through independent contractors; (6) soliciting or obtaining orders, whether by mail or electronic means or through employees or agents or otherwise, if the orders require acceptance outside this State before they become contracts; (7) creating or acquiring indebtedness, mortgages, or security interests in real or personal property; (8) securing or collecting debts or enforcing mortgages or other security interests in property securing the debts, and holding, protecting, and maintaining property so acquired; (9) conducting an isolated transaction that is completed within 30 days and is not one in the course of similar transactions of a like manner; and (10) transacting business in interstate commerce. (b) For purposes of this chapter, the ownership in this State of income-producing real property or tangible personal property, other than property excluded under subsection (a), constitutes transacting business in this State. (c) This section does not apply in determining the contacts or activities that may subject a foreign limited partnership to service of process, taxation, or regulation under any other law of this State. Acts 2007, No. 15, § 1.

(a) Activities of a foreign limited partnership which do not constitute transacting business in this State within the meaning of this chapter include: (1) maintaining, defending, and settling an action or proceeding; (2) holding meetings of its partners or carrying on any other activity concerning its internal affairs; (3) maintaining accounts in financial institutions; (4) maintaining offices or agencies for the transfer, exchange, and registration of the foreign limited partnership's own securities or maintaining trustees or depositories with respect to those securities; (5) selling through independent contractors; (6) soliciting or obtaining orders, whether by mail or electronic means or through employees or agents or otherwise, if the orders require acceptance outside this State before they become contracts; (7) creating or acquiring indebtedness, mortgages, or security interests in real or personal property; (8) securing or collecting debts or enforcing mortgages or other security interests in property securing the debts, and holding, protecting, and maintaining property so acquired; (9) conducting an isolated transaction that is completed within 30 days and is not one in the course of similar transactions of a like manner; and (10) transacting business in interstate commerce.

(1) maintaining, defending, and settling an action or proceeding;

(2) holding meetings of its partners or carrying on any other activity concerning its internal affairs;

(3) maintaining accounts in financial institutions;

(4) maintaining offices or agencies for the transfer, exchange, and registration of the foreign limited partnership's own securities or maintaining trustees or depositories with respect to those securities;

(5) selling through independent contractors;

(6) soliciting or obtaining orders, whether by mail or electronic means or through employees or agents or otherwise, if the orders require acceptance outside this State before they become contracts;

(7) creating or acquiring indebtedness, mortgages, or security interests in real or personal property;

(8) securing or collecting debts or enforcing mortgages or other security interests in property securing the debts, and holding, protecting, and maintaining property so acquired;

(9) conducting an isolated transaction that is completed within 30 days and is not one in the course of similar transactions of a like manner; and

(10) transacting business in interstate commerce.

(b) For purposes of this chapter, the ownership in this State of income-producing real property or tangible personal property, other than property excluded under subsection (a), constitutes transacting business in this State.

(c) This section does not apply in determining the contacts or activities that may subject a foreign limited partnership to service of process, taxation, or regulation under any other law of this State.

Acts 2007, No. 15, § 1.
Ark. Code Ann. § 4-18-344 — AR Code / Title 4 / Chapter 18 / Subchapter 3 / Section 4-18-344
Testing bulk meters or liquefied petroleum gas metering devices, pumps, and scales used for commercial transactions - Definitions
Status: in_force

(a) (1) As used in this section, "pump" means a fuel pump that dispenses products used as motor vehicle fuels, including, but not limited to, gasoline, kerosene, or diesel. (2) As used in this section, "bulk meter" includes, but is not limited to, a pipeline terminal meter, a rack meter, or a tank truck meter. (b) (1) (A) A person who owns a bulk meter or liquefied petroleum gas metering device for a commercial transaction must engage a registered service agent to annually inspect and test for the accuracy and correctness of the device. (B) The duty of the Director of the Arkansas Bureau of Standards to inspect and test bulk meters or liquefied petroleum gas metering devices used for commercial transactions is fulfilled by the registered service agent's annual inspection and test for accuracy. (2) (A) A person who owns a pump or scale for a commercial transaction must engage a registered service agent to annually inspect and test for the accuracy and correctness of the pump or scale. (B) The director's duty to inspect and test pumps or scales used for commercial transactions is fulfilled by the registered service agent's annual inspection and test for accuracy. (c) A registered service agent shall perform the recalibration if the inspection or test indicates the bulk meter or liquefied petroleum gas metering device, pump, or scale needs to be recalibrated. (d) (1) After the approval of a decal by the Arkansas Bureau of Standards, a registered service agent shall place an approved decal conspicuously on the bulk meter or liquefied petroleum gas metering device, pump, or scale which indicates that it is suitable for trade in accordance with the National Institute of Standards and Technology Handbooks 44 and 112, as adopted by the bureau. (2) A registered service company shall provide security seals approved by the bureau to any individual employed as a registered technician authorized to perform inspections and tests. (3) A registered technician shall place an approved security seal on the device to prevent any unauthorized access to the adjusting mechanism unless otherwise authorized by the bureau. (e) The registered service agent shall provide a copy of all bureau-approved inspection and test reports to the bulk meter or liquefied petroleum gas metering device, pump, or scale owner and to the director. (f) (1) The registered service agent shall retain a copy of all inspection and test reports for a period of three (3) years. (2) The owner of the device shall retain a copy of all inspection and test reports at the device location for a period of three (3) years. (g) The director may adopt a system to periodically monitor, inspect, or test bulk meters or liquefied petroleum gas metering devices, pumps, and scales inspected and tested by a registered service agent to check the accuracy of the work of the service agent. (h) (1) The director may suspend or revoke the certificate of registration of a registered service agent for violating any provision of this subchapter. (2) If the registration of a registered service agent has been suspended or revoked, then the service agent may not register with the bureau as a service agent for at least one (1) year. Acts 2005, No. 914, § 5.

(a) (1) As used in this section, "pump" means a fuel pump that dispenses products used as motor vehicle fuels, including, but not limited to, gasoline, kerosene, or diesel. (2) As used in this section, "bulk meter" includes, but is not limited to, a pipeline terminal meter, a rack meter, or a tank truck meter.

(1) As used in this section, "pump" means a fuel pump that dispenses products used as motor vehicle fuels, including, but not limited to, gasoline, kerosene, or diesel.

(2) As used in this section, "bulk meter" includes, but is not limited to, a pipeline terminal meter, a rack meter, or a tank truck meter.

(b) (1) (A) A person who owns a bulk meter or liquefied petroleum gas metering device for a commercial transaction must engage a registered service agent to annually inspect and test for the accuracy and correctness of the device. (B) The duty of the Director of the Arkansas Bureau of Standards to inspect and test bulk meters or liquefied petroleum gas metering devices used for commercial transactions is fulfilled by the registered service agent's annual inspection and test for accuracy. (2) (A) A person who owns a pump or scale for a commercial transaction must engage a registered service agent to annually inspect and test for the accuracy and correctness of the pump or scale. (B) The director's duty to inspect and test pumps or scales used for commercial transactions is fulfilled by the registered service agent's annual inspection and test for accuracy.

(1) (A) A person who owns a bulk meter or liquefied petroleum gas metering device for a commercial transaction must engage a registered service agent to annually inspect and test for the accuracy and correctness of the device. (B) The duty of the Director of the Arkansas Bureau of Standards to inspect and test bulk meters or liquefied petroleum gas metering devices used for commercial transactions is fulfilled by the registered service agent's annual inspection and test for accuracy.

(A) A person who owns a bulk meter or liquefied petroleum gas metering device for a commercial transaction must engage a registered service agent to annually inspect and test for the accuracy and correctness of the device.

(B) The duty of the Director of the Arkansas Bureau of Standards to inspect and test bulk meters or liquefied petroleum gas metering devices used for commercial transactions is fulfilled by the registered service agent's annual inspection and test for accuracy.

(2) (A) A person who owns a pump or scale for a commercial transaction must engage a registered service agent to annually inspect and test for the accuracy and correctness of the pump or scale. (B) The director's duty to inspect and test pumps or scales used for commercial transactions is fulfilled by the registered service agent's annual inspection and test for accuracy.

(A) A person who owns a pump or scale for a commercial transaction must engage a registered service agent to annually inspect and test for the accuracy and correctness of the pump or scale.

(B) The director's duty to inspect and test pumps or scales used for commercial transactions is fulfilled by the registered service agent's annual inspection and test for accuracy.

(c) A registered service agent shall perform the recalibration if the inspection or test indicates the bulk meter or liquefied petroleum gas metering device, pump, or scale needs to be recalibrated.

(d) (1) After the approval of a decal by the Arkansas Bureau of Standards, a registered service agent shall place an approved decal conspicuously on the bulk meter or liquefied petroleum gas metering device, pump, or scale which indicates that it is suitable for trade in accordance with the National Institute of Standards and Technology Handbooks 44 and 112, as adopted by the bureau. (2) A registered service company shall provide security seals approved by the bureau to any individual employed as a registered technician authorized to perform inspections and tests. (3) A registered technician shall place an approved security seal on the device to prevent any unauthorized access to the adjusting mechanism unless otherwise authorized by the bureau.

(1) After the approval of a decal by the Arkansas Bureau of Standards, a registered service agent shall place an approved decal conspicuously on the bulk meter or liquefied petroleum gas metering device, pump, or scale which indicates that it is suitable for trade in accordance with the National Institute of Standards and Technology Handbooks 44 and 112, as adopted by the bureau.

(2) A registered service company shall provide security seals approved by the bureau to any individual employed as a registered technician authorized to perform inspections and tests.

(3) A registered technician shall place an approved security seal on the device to prevent any unauthorized access to the adjusting mechanism unless otherwise authorized by the bureau.

(e) The registered service agent shall provide a copy of all bureau-approved inspection and test reports to the bulk meter or liquefied petroleum gas metering device, pump, or scale owner and to the director.

(f) (1) The registered service agent shall retain a copy of all inspection and test reports for a period of three (3) years. (2) The owner of the device shall retain a copy of all inspection and test reports at the device location for a period of three (3) years.

(1) The registered service agent shall retain a copy of all inspection and test reports for a period of three (3) years.

(2) The owner of the device shall retain a copy of all inspection and test reports at the device location for a period of three (3) years.

(g) The director may adopt a system to periodically monitor, inspect, or test bulk meters or liquefied petroleum gas metering devices, pumps, and scales inspected and tested by a registered service agent to check the accuracy of the work of the service agent.

(h) (1) The director may suspend or revoke the certificate of registration of a registered service agent for violating any provision of this subchapter. (2) If the registration of a registered service agent has been suspended or revoked, then the service agent may not register with the bureau as a service agent for at least one (1) year.

(1) The director may suspend or revoke the certificate of registration of a registered service agent for violating any provision of this subchapter.

(2) If the registration of a registered service agent has been suspended or revoked, then the service agent may not register with the bureau as a service agent for at least one (1) year.

Acts 2005, No. 914, § 5.
Ark. Code Ann. § 4-88-502 — AR Code / Title 4 / Chapter 88 / Subchapter 5 / Section 4-88-502
Violations
Status: in_force

(a) This subchapter shall not be construed to permit an activity otherwise prohibited by law. (b) (1) A person who solicits advertisements for school calendars shall disclose whether or not the school whose name, emblem, or mascot is used will receive any funds as a result of the solicitation and, if so, what percentage or amount of those funds the school will receive. (2) If the school whose name, emblem, or mascot is used will not receive a percentage of any funds raised, the person making the solicitation must clearly and conspicuously disclose, both orally and in writing at the time the person makes the solicitation, that the school will not receive a percentage of any funds raised. (c) Subsection (b) of this section shall not apply to a person who solicits advertisements for university calendars when the person has a written contract with the university. Acts 1999, No. 1284, § 2; 2009, No. 645, § 1; 2011, No. 719, § 4.

(a) This subchapter shall not be construed to permit an activity otherwise prohibited by law.

(b) (1) A person who solicits advertisements for school calendars shall disclose whether or not the school whose name, emblem, or mascot is used will receive any funds as a result of the solicitation and, if so, what percentage or amount of those funds the school will receive. (2) If the school whose name, emblem, or mascot is used will not receive a percentage of any funds raised, the person making the solicitation must clearly and conspicuously disclose, both orally and in writing at the time the person makes the solicitation, that the school will not receive a percentage of any funds raised.

(1) A person who solicits advertisements for school calendars shall disclose whether or not the school whose name, emblem, or mascot is used will receive any funds as a result of the solicitation and, if so, what percentage or amount of those funds the school will receive.

(2) If the school whose name, emblem, or mascot is used will not receive a percentage of any funds raised, the person making the solicitation must clearly and conspicuously disclose, both orally and in writing at the time the person makes the solicitation, that the school will not receive a percentage of any funds raised.

(c) Subsection (b) of this section shall not apply to a person who solicits advertisements for university calendars when the person has a written contract with the university.

Acts 1999, No. 1284, § 2; 2009, No. 645, § 1; 2011, No. 719, § 4.
Ark. Code Ann. § 4-73-302 — AR Code / Title 4 / Chapter 73 / Subchapter 3 / Section 4-73-302
Applicability of subchapter
Status: in_force

This subchapter applies only to fine prints printed after July 4, 1983. Acts 1983, No. 819, § 4; A.S.A. 1947, § 68-1804.

This subchapter applies only to fine prints printed after July 4, 1983.

Acts 1983, No. 819, § 4; A.S.A. 1947, § 68-1804.
Ark. Code Ann. § 4-87-103 — AR Code / Title 4 / Chapter 87 / Section 4-87-103
Class actions prohibited
Status: in_force

No class action may be filed under the provisions of this chapter. Acts 1975, No. 566, § 5; A.S.A. 1947, § 70-929.

No class action may be filed under the provisions of this chapter.

Acts 1975, No. 566, § 5; A.S.A. 1947, § 70-929.
Ark. Code Ann. § 4-96-305 — AR Code / Title 4 / Chapter 96 / Subchapter 3 / Section 4-96-305
Refund or replacement
Status: in_force

(a) If a manufacturer, an agent of a manufacturer, a distributor, or an authorized dealer does not conform farm machinery to the warranty as required under § 4-96-303 , after notice of the nonconformity under § 4-96-303 by repairing or correcting one (1) or more nonconformities that substantially impair the farm machinery after a reasonable number of attempts, then, within thirty (30) days, the manufacturer or distributor shall: (1) At the time of receipt of payment of a reasonable offset for use by the consumer, replace the farm machinery with comparable farm machinery acceptable to the consumer; or (2) Repurchase the farm machinery from the buyer or lessor and refund to the buyer or lessor the full purchase price or lease price, less: (A) A reasonable allowance for consumer use; and (B) A reasonable offset for physical damage sustained by the farm machinery while under the ownership of the consumer. (b) The replacement or refund under subsection (a) of this section shall include payment of all collateral charges and reasonably incurred incidental charges. (c) A buyer has an unconditional right to choose a refund rather than a replacement under this subchapter. (d) At the time of the refund or replacement, a consumer, lien holder, or lessor shall furnish clear title to and possession of the farm machinery to the manufacturer, distributor, or authorized dealer. (e) The amount of reasonable allowance for consumer use is determined by the fair lease value of the farm machinery. Added by Act 2019, No. 588,§ 1, eff. 7/24/2019.

(a) If a manufacturer, an agent of a manufacturer, a distributor, or an authorized dealer does not conform farm machinery to the warranty as required under § 4-96-303 , after notice of the nonconformity under § 4-96-303 by repairing or correcting one (1) or more nonconformities that substantially impair the farm machinery after a reasonable number of attempts, then, within thirty (30) days, the manufacturer or distributor shall: (1) At the time of receipt of payment of a reasonable offset for use by the consumer, replace the farm machinery with comparable farm machinery acceptable to the consumer; or (2) Repurchase the farm machinery from the buyer or lessor and refund to the buyer or lessor the full purchase price or lease price, less: (A) A reasonable allowance for consumer use; and (B) A reasonable offset for physical damage sustained by the farm machinery while under the ownership of the consumer.

(1) At the time of receipt of payment of a reasonable offset for use by the consumer, replace the farm machinery with comparable farm machinery acceptable to the consumer; or

(2) Repurchase the farm machinery from the buyer or lessor and refund to the buyer or lessor the full purchase price or lease price, less: (A) A reasonable allowance for consumer use; and (B) A reasonable offset for physical damage sustained by the farm machinery while under the ownership of the consumer.

(A) A reasonable allowance for consumer use; and

(B) A reasonable offset for physical damage sustained by the farm machinery while under the ownership of the consumer.

(b) The replacement or refund under subsection (a) of this section shall include payment of all collateral charges and reasonably incurred incidental charges.

(c) A buyer has an unconditional right to choose a refund rather than a replacement under this subchapter.

(d) At the time of the refund or replacement, a consumer, lien holder, or lessor shall furnish clear title to and possession of the farm machinery to the manufacturer, distributor, or authorized dealer.

(e) The amount of reasonable allowance for consumer use is determined by the fair lease value of the farm machinery.

Added by Act 2019, No. 588,§ 1, eff. 7/24/2019.
Ark. Code Ann. § 4-71-214 — AR Code / Title 4 / Chapter 71 / Subchapter 2 / Section 4-71-214
Remedies
Status: in_force

(a) (1) (A) Any owner of a mark registered under this subchapter may proceed by suit to enjoin the manufacture, use, display, or sale of any counterfeits or imitations of that mark and any court of competent jurisdiction may grant injunctions to restrain any manufacture, use, display, or sale as may be by the court deemed just and reasonable, and may require the defendants to pay to the owner all profits derived from or all damages suffered by reason of, or both, such wrongful manufacture, use, display, or sale. (B) The court may also order that any such counterfeits or imitations in the possession or under the control of any defendant in such case be delivered to an officer of the court or to the complainant to be destroyed. (2) The court, in its discretion, may enter judgment for an amount not to exceed three (3) times such profits and damages or reasonable attorney's fees of the prevailing party, or both, in cases where the court finds the other party committed wrongful acts with knowledge or in bad faith or otherwise as according to the circumstances of the case. (b) The enumeration of any right or remedy in this section shall not affect a registrant's right to prosecute under any penal law of this state. Acts 1997, No. 1109, § 14.

(a) (1) (A) Any owner of a mark registered under this subchapter may proceed by suit to enjoin the manufacture, use, display, or sale of any counterfeits or imitations of that mark and any court of competent jurisdiction may grant injunctions to restrain any manufacture, use, display, or sale as may be by the court deemed just and reasonable, and may require the defendants to pay to the owner all profits derived from or all damages suffered by reason of, or both, such wrongful manufacture, use, display, or sale. (B) The court may also order that any such counterfeits or imitations in the possession or under the control of any defendant in such case be delivered to an officer of the court or to the complainant to be destroyed. (2) The court, in its discretion, may enter judgment for an amount not to exceed three (3) times such profits and damages or reasonable attorney's fees of the prevailing party, or both, in cases where the court finds the other party committed wrongful acts with knowledge or in bad faith or otherwise as according to the circumstances of the case.

(1) (A) Any owner of a mark registered under this subchapter may proceed by suit to enjoin the manufacture, use, display, or sale of any counterfeits or imitations of that mark and any court of competent jurisdiction may grant injunctions to restrain any manufacture, use, display, or sale as may be by the court deemed just and reasonable, and may require the defendants to pay to the owner all profits derived from or all damages suffered by reason of, or both, such wrongful manufacture, use, display, or sale. (B) The court may also order that any such counterfeits or imitations in the possession or under the control of any defendant in such case be delivered to an officer of the court or to the complainant to be destroyed.

(A) Any owner of a mark registered under this subchapter may proceed by suit to enjoin the manufacture, use, display, or sale of any counterfeits or imitations of that mark and any court of competent jurisdiction may grant injunctions to restrain any manufacture, use, display, or sale as may be by the court deemed just and reasonable, and may require the defendants to pay to the owner all profits derived from or all damages suffered by reason of, or both, such wrongful manufacture, use, display, or sale.

(B) The court may also order that any such counterfeits or imitations in the possession or under the control of any defendant in such case be delivered to an officer of the court or to the complainant to be destroyed.

(2) The court, in its discretion, may enter judgment for an amount not to exceed three (3) times such profits and damages or reasonable attorney's fees of the prevailing party, or both, in cases where the court finds the other party committed wrongful acts with knowledge or in bad faith or otherwise as according to the circumstances of the case.

(b) The enumeration of any right or remedy in this section shall not affect a registrant's right to prosecute under any penal law of this state.

Acts 1997, No. 1109, § 14.
Ark. Code Ann. § 4-46-106 — AR Code / Title 4 / Chapter 46 / Subchapter 1 / Section 4-46-106
Governing law
Status: in_force

(a) Except as otherwise provided in subsection (b) of this section, the law of the jurisdiction in which a partnership has its chief executive office governs relations among the partners and between the partners and the partnership. (b) The law of this State governs relations among the partners and between the partners and the partnership and the liability of partners for an obligation of a limited liability partnership. Acts 1999, No. 1518, § 106.

(a) Except as otherwise provided in subsection (b) of this section, the law of the jurisdiction in which a partnership has its chief executive office governs relations among the partners and between the partners and the partnership.

(b) The law of this State governs relations among the partners and between the partners and the partnership and the liability of partners for an obligation of a limited liability partnership.

Acts 1999, No. 1518, § 106.
Ark. Code Ann. § 4-71-208 — AR Code / Title 4 / Chapter 71 / Subchapter 2 / Section 4-71-208
Records
Status: in_force

The Secretary of State shall keep for public examination a record of all marks registered or renewed under this subchapter, as well as a record of all documents recorded pursuant to § 4-71-207 . Acts 1997, No. 1109, § 8.

The Secretary of State shall keep for public examination a record of all marks registered or renewed under this subchapter, as well as a record of all documents recorded pursuant to § 4-71-207 .

Acts 1997, No. 1109, § 8.
Ark. Code Ann. § 4-25-103 — AR Code / Title 4 / Chapter 25 / Section 4-25-103
Contributions authorized
Status: in_force

All business corporations, railroad corporations, banking corporations, insurance corporations, building and loan corporations, benevolent corporations, and cooperative associations shall have the power to make donations for the public welfare or for charitable, scientific, or educational purposes, subject to such limitations, if any, as may be contained in its articles of incorporation or any amendment thereto. Acts 1951, No. 69, § 1; A.S.A. 1947, § 64-1101.

All business corporations, railroad corporations, banking corporations, insurance corporations, building and loan corporations, benevolent corporations, and cooperative associations shall have the power to make donations for the public welfare or for charitable, scientific, or educational purposes, subject to such limitations, if any, as may be contained in its articles of incorporation or any amendment thereto.

Acts 1951, No. 69, § 1; A.S.A. 1947, § 64-1101.
Ark. Code Ann. § 4-75-208 — AR Code / Title 4 / Chapter 75 / Subchapter 2 / Section 4-75-208
Secret payments or allowance of rebates, refunds, etc. - Penalty
Status: in_force

(a) The secret payment or allowance of rebates, refunds, commissions, or unearned discounts is an unfair trade practice, whether in the form of money or otherwise or secretly extending to certain purchasers special services or privileges not extended to all purchasers purchasing upon like terms and conditions to the injury of a competitor and where the payment or allowance tends to destroy competition. (b) Any person, firm, partnership, corporation, or association resorting to such trade practice shall be guilty of a Class A misdemeanor. Acts 1937, No. 253, § 7; Pope's Dig., § 14317; A.S.A. 1947, § 70-307; Acts 2005, No. 1994, § 341.

(a) The secret payment or allowance of rebates, refunds, commissions, or unearned discounts is an unfair trade practice, whether in the form of money or otherwise or secretly extending to certain purchasers special services or privileges not extended to all purchasers purchasing upon like terms and conditions to the injury of a competitor and where the payment or allowance tends to destroy competition.

(b) Any person, firm, partnership, corporation, or association resorting to such trade practice shall be guilty of a Class A misdemeanor.

Acts 1937, No. 253, § 7; Pope's Dig., § 14317; A.S.A. 1947, § 70-307; Acts 2005, No. 1994, § 341.
Ark. Code Ann. § 4-38-111 — AR Code / Title 4 / Chapter 38 / Subchapter 1 / Section 4-38-111
Supplemental principles of law
Status: in_force

Unless displaced by particular provisions of this chapter, the principles of law and equity supplement this chapter. Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.

Unless displaced by particular provisions of this chapter, the principles of law and equity supplement this chapter.

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.
Ark. Code Ann. § 4-105-204 — AR Code / Title 4 / Chapter 105 / Subchapter 2 / Section 4-105-204
Repair
Status: in_force

(a) A reasonable amount of time to fix a nonconformity shall be thirty (30) calendar days, with the exchange of a substitute of the consumer's assistive device at the option of the consumer. (b) If, after a reasonable attempt to repair, the nonconformity is not repaired, then at the direction of the consumer the manufacturer shall do one (1) of the following: (1) Accept return of the assistive device and replace the assistive device with a comparable new assistive device and refund any collateral costs; (2) (A) Accept return of the assistive device and refund to the consumer and to any holder of a perfected security interest in the consumer's assistive device, as their interest may appear, the full purchase price plus any finance charge paid by the consumer at the point of sale and collateral costs, less a reasonable allowance for use. (B) A reasonable allowance for use may not exceed the amount obtained by multiplying the full purchase price of the assistive device by a fraction, the denominator of which is one thousand four hundred sixty (1,460) and the numerator of which is the number of days that the assistive device was used before the consumer first reported the nonconformity to the assistive device dealer; or (3) With respect to a consumer who leases an assistive device from an assistive device lessor under a written lease, accept return of the assistive device, refund to the assistive device lessor and to any holder of a perfected security interest in the assistive device, as their interest may appear, the current value of the written lease, and refund to the consumer the amount that the consumer paid under the written lease plus any collateral costs, less a reasonable allowance for use. Acts 1999, No. 953, § 4.

(a) A reasonable amount of time to fix a nonconformity shall be thirty (30) calendar days, with the exchange of a substitute of the consumer's assistive device at the option of the consumer.

(b) If, after a reasonable attempt to repair, the nonconformity is not repaired, then at the direction of the consumer the manufacturer shall do one (1) of the following: (1) Accept return of the assistive device and replace the assistive device with a comparable new assistive device and refund any collateral costs; (2) (A) Accept return of the assistive device and refund to the consumer and to any holder of a perfected security interest in the consumer's assistive device, as their interest may appear, the full purchase price plus any finance charge paid by the consumer at the point of sale and collateral costs, less a reasonable allowance for use. (B) A reasonable allowance for use may not exceed the amount obtained by multiplying the full purchase price of the assistive device by a fraction, the denominator of which is one thousand four hundred sixty (1,460) and the numerator of which is the number of days that the assistive device was used before the consumer first reported the nonconformity to the assistive device dealer; or (3) With respect to a consumer who leases an assistive device from an assistive device lessor under a written lease, accept return of the assistive device, refund to the assistive device lessor and to any holder of a perfected security interest in the assistive device, as their interest may appear, the current value of the written lease, and refund to the consumer the amount that the consumer paid under the written lease plus any collateral costs, less a reasonable allowance for use.

(1) Accept return of the assistive device and replace the assistive device with a comparable new assistive device and refund any collateral costs;

(2) (A) Accept return of the assistive device and refund to the consumer and to any holder of a perfected security interest in the consumer's assistive device, as their interest may appear, the full purchase price plus any finance charge paid by the consumer at the point of sale and collateral costs, less a reasonable allowance for use. (B) A reasonable allowance for use may not exceed the amount obtained by multiplying the full purchase price of the assistive device by a fraction, the denominator of which is one thousand four hundred sixty (1,460) and the numerator of which is the number of days that the assistive device was used before the consumer first reported the nonconformity to the assistive device dealer; or

(A) Accept return of the assistive device and refund to the consumer and to any holder of a perfected security interest in the consumer's assistive device, as their interest may appear, the full purchase price plus any finance charge paid by the consumer at the point of sale and collateral costs, less a reasonable allowance for use.

(B) A reasonable allowance for use may not exceed the amount obtained by multiplying the full purchase price of the assistive device by a fraction, the denominator of which is one thousand four hundred sixty (1,460) and the numerator of which is the number of days that the assistive device was used before the consumer first reported the nonconformity to the assistive device dealer; or

(3) With respect to a consumer who leases an assistive device from an assistive device lessor under a written lease, accept return of the assistive device, refund to the assistive device lessor and to any holder of a perfected security interest in the assistive device, as their interest may appear, the current value of the written lease, and refund to the consumer the amount that the consumer paid under the written lease plus any collateral costs, less a reasonable allowance for use.

Acts 1999, No. 953, § 4.
Ark. Code Ann. § 4-73-205 — AR Code / Title 4 / Chapter 73 / Subchapter 2 / Section 4-73-205
Waiver of subchapter's provisions void
Status: in_force

Any provision, whether oral or written, in or pertaining to the placing of a work of fine art on consignment whereby any provision of this subchapter is waived shall be deemed to be against public policy and shall be void. Acts 1983, No. 820, § 6; A.S.A. 1947, § 68-1811.

Any provision, whether oral or written, in or pertaining to the placing of a work of fine art on consignment whereby any provision of this subchapter is waived shall be deemed to be against public policy and shall be void.

Acts 1983, No. 820, § 6; A.S.A. 1947, § 68-1811.