reglab/housing_qa huggingface dataset:
AR Code § 23-51-197 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-197. Designation of trustee

 Any person residing in this state may designate any trust institution to act as a fiduciary on behalf of the person.
AR Code § 23-51-198 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-198. Choice of law governing trusts

 Any trust institution that maintains a trust office in this state and its affected clients may designate either this state, a state where affected clients reside, or the state where the trust institution has its principal office as the state whose laws shall govern any written agreement between the trust institution and its client or any instrument under which the trust institution acts for a client.
AR Code § 23-51-199 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 51 - Arkansas Trust Institutions Act|§ 23-51-199. Choice of law governing fiduciary investments

 Any trust institution that maintains a trust office in this state and its affected clients may designate either this state, a state where affected clients reside, or the state where the trust institution has its principal office as the state whose laws shall govern with respect to the fiduciary investment standards applicable to any written agreement between the trust institution or its client and any other instrument under which the trust institution acts for a client.
AR Code § 23-53-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 53 - Arkansas Home Loan Protection Act|§ 23-53-101. Title

 This chapter shall be known as the “Arkansas Home Loan Protection Act”.
AR Code § 23-53-102 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 53 - Arkansas Home Loan Protection Act|§ 23-53-102. Legislative intent

 (a) The General Assembly finds that:  (1) Abusive mortgage lending has become an increasing problem in this state, exacerbating the loss of equity in homes and causing the number of foreclosures to increase in recent years;  (2) One of the most common forms of abusive lending is the making of loans that are equity-based, rather than income-based;  (3) The financing of points and fees in the loans provides immediate income to the originator and encourages lenders to repeatedly refinance home loans;  (4) The lender's ability to sell loans reduces the incentive to ensure that the homeowner can afford the payments of the loan;  (5) As long as there is sufficient equity in the home, an abusive lender benefits even if the borrower is unable to make the payments and is forced to refinance;  (6) The financing of high points and fees causes the loss of precious equity in each refinancing and often leads to foreclosure;  (7) Abusive lending has threatened the viability of many communities and caused decreases in homeownership;  (8) While the marketplace appears to operate effectively for conventional mortgages, too many homeowners find themselves victims of overreaching lenders who provide loans with unnecessarily high costs and terms that are unnecessary to secure repayment of the loan; and  (9) As competition and self-regulation have not eliminated the abusive terms from home-secured loans, the consumer protection provisions of this chapter are necessary to encourage lending at reasonable rates with reasonable terms.    (b) This chapter shall be liberally construed:  (1) To effectuate its purpose of protecting the homes and the equity of individual borrowers; and  (2) As a consumer protection statute for all purposes.
AR Code § 23-53-105 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 53 - Arkansas Home Loan Protection Act|§ 23-53-105. Preservation and enforcement of claims and defenses — No subterfuge

 (a) Liability of Assignees and Other Holders in High-Cost Home Loans.  (1) Notwithstanding any provision of any other law, the remedies provided in this chapter apply to any person or entity who personally participated in the making or approving of the high-cost home loan and who violated the requirements of this chapter.  (2)  (A)  (i) Any person who purchases or is otherwise assigned a high-cost home loan shall be subject to all affirmative claims and any defenses with respect to the loan that the borrower could assert against the original creditor or broker of the loan.  (ii) However, if the purchaser or assignee demonstrates by a preponderance of the evidence that at the time of the purchase of the home loans or within a reasonable time thereafter the purchaser or assignee exercised reasonable due diligence that was intended to prevent the purchaser or assignee from purchasing or taking assignment of high-cost home loans, then the purchaser or assignee shall have no liability to any person under this chapter.    (B) The liability of any person who purchases or is otherwise assigned a high-cost home loan whose liability is established under this subsection but who did not personally participate in the making or approving of the high-cost home loan, shall be limited to the amount of all remaining indebtedness of the borrower and the total amount paid by the borrower in connection with the transaction.  (C) Any person incurring liability as an assignee is entitled to full recourse against any previous assignee or against any person or entity who personally participated in making or approving the home loan for the full amount of liability sustained by the assignee.      (b) Liability of Assignees in Foreclosure Action. Notwithstanding any provision of any other law, a borrower in default more than sixty (60) days or in foreclosure may assert a violation of this chapter by way of offset:  (1)  (A) As an original action, in an individual action only, brought within two (2) years from the date of the occurrence of the violation.  (B) A borrower shall not be barred from asserting a violation in an action to collect the debt which was brought more than one (1) year from the date of the occurrence of the violation as a matter of defense by recoupment or set-off in the action except as otherwise provided by law;    (2) As a defense or counterclaim to an action to collect amounts owed; or  (3) To obtain possession of the home secured by the high-cost home loan.    (c) No Subterfuge. It is a violation of this chapter for any person who in bad faith attempts to avoid the application of this chapter by:  (1) Dividing any loan transaction into separate parts for this purpose; or  (2) Any other subterfuge, with the intent of evading the provisions of this chapter.
AR Code § 23-54-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 54 - Reverse Mortgage Protection Act|§ 23-54-101. Title

 This chapter shall be known and may be cited as the “Reverse Mortgage Protection Act”.
AR Code § 23-54-102 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 54 - Reverse Mortgage Protection Act|§ 23-54-102. Applicability

 This chapter applies to reverse mortgage loans executed on or after January 1, 2006.
AR Code § 23-54-103 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 54 - Reverse Mortgage Protection Act|§ 23-54-103. Definitions

 As used in this chapter, “reverse mortgage” means a nonrecourse loan secured by a borrower's principal residence that:   (1) Provides cash advances to a borrower based upon the amount of equity in the borrower's residence; and  (2) Requires no payment of principal or interest until the entire loan becomes due and payable.
AR Code § 23-54-104 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 54 - Reverse Mortgage Protection Act|§ 23-54-104. Provisions of reverse mortgages

 (a) A reverse mortgage loan:  (1)  (A) Shall permit prepayment in whole or in part without penalty at any time during the term of the reverse mortgage loan.  (B) For the purposes of this subdivision (a)(1), “penalty” does not include any fees, payments, or other charges that would have otherwise been due upon the maturity of the reverse mortgage;    (2) May provide for a fixed or adjustable interest rate, or combination thereof, and compound interest;  (3) May provide for a rate of interest that is contingent upon the value of the property at the time of execution of the loan or at maturity, or upon changes in value between closing and maturity; and  (4) May include costs and fees that are customarily charged by the lender or the lender's designee, originator, or servicer, including costs and fees charged:    (b) If a reverse mortgage loan provides for periodic advances to a borrower, the advances shall not be reduced in amount or number based upon any adjustment in the interest rate.  (c) The lender shall prominently disclose in the loan agreement any interest rate or other fees to be charged during the period that commences on the date that the reverse mortgage loan becomes due and payable and that ends when repayment in full is made.  (d) The first page of any mortgage or deed of trust securing a reverse mortgage loan shall contain the following statement in 10-point boldface type: “This deed of trust secures a reverse mortgage loan.”     (1)  Upon execution of the loan;    (2)  On a periodic basis; or    (3)  Upon maturity.
AR Code § 23-54-105 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 54 - Reverse Mortgage Protection Act|§ 23-54-105. Treatment of loan proceeds

 To the extent that implementation of this section does not conflict with federal law:   (1) Reverse mortgage loan payments made to a borrower shall be treated as proceeds from a loan and not as income for the purpose of determining eligibility and benefits under programs of aid to individuals; and  (2) Undisbursed reverse mortgage funds shall be treated as equity in the borrower's home and not as proceeds from a loan, resources, or assets for the purpose of determining eligibility and benefits under programs of aid to individuals.
AR Code § 23-54-106 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 54 - Reverse Mortgage Protection Act|§ 23-54-106. Loan application — Disclosures

 (a) No reverse mortgage loan application shall be taken by a lender unless the loan applicant has received from the lender the following plain language statement, in conspicuous 16-point type or larger, advising the prospective borrower about counseling prior to obtaining the reverse mortgage loan:  (b) Before giving the prospective borrower the statement described in subsection (a) of this section, the lender shall mark the appropriate alternative concerning annuity requirements.  (c) The lender shall be presumed to have satisfied any disclosure duty imposed by this chapter if the lender provides a disclosure statement in the same form as provided in this chapter.    “IMPORTANT NOTICE TO REVERSE MORTGAGE LOAN APPLICANT THE REVERSE MORTGAGE WHICH YOU ARE CONSIDERING: / / DOES / / DOES NOT REQUIRE THAT YOU PURCHASE AN ANNUITY IN CONNECTION WITH THE REVERSE MORTGAGE TRANSACTION. A REVERSE MORTGAGE IS A COMPLEX FINANCIAL TRANSACTION THAT PROVIDES A MEANS OF USING THE EQUITY YOU HAVE BUILT UP IN YOUR HOME OR THE VALUE OF YOUR HOME AS A SOURCE OF ADDITIONAL INCOME. IF YOU DECIDE TO OBTAIN A REVERSE MORTGAGE LOAN, YOU WILL SIGN BINDING LEGAL DOCUMENTS THAT WILL HAVE IMPORTANT LEGAL AND FINANCIAL IMPLICATIONS FOR YOU AND YOUR ESTATE. IT IS THEREFORE IMPORTANT TO UNDERSTAND THE TERMS OF THE REVERSE MORTGAGE AND ITS EFFECT. AS IS TRUE BEFORE ENTERING INTO ANY COMPLEX FINANCIAL ARRANGEMENT, IT IS WISE TO SEEK THE COUNSELING AND ADVICE OF APPROPRIATE PROFESSIONALS SUCH AS ATTORNEYS, FINANCIAL ADVISERS, AND ACCOUNTANTS. COUNSELORS TRAINED ON REVERSE MORTGAGES MAY ALSO BE AVAILABLE. YOU MAY ALSO WANT TO DISCUSS YOUR DECISION WITH FAMILY MEMBERS OR OTHERS ON WHOM YOU RELY UPON FOR FINANCIAL ADVICE.”   Click to view form.
AR Code § 23-54-107 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 54 - Reverse Mortgage Protection Act|§ 23-54-107. Lien

 (a) A reverse mortgage shall constitute a lien against the subject property to the extent of all advances made under the reverse mortgage and all interest accrued on the advances.  (b) The lien shall have priority over any lien filed after recordation of the reverse mortgage.
AR Code § 23-54-108 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 54 - Reverse Mortgage Protection Act|§ 23-54-108. Default

 (a) The reverse mortgage loan may become due and payable upon the occurrence of any one (1) of the following events:  (1) The home securing the loan is sold or title to the home is otherwise transferred;  (2) All borrowers cease occupying the home as a principal residence, except as provided in subsection (b) of this section;  (3) Any fixed maturity date agreed to by the lender and the borrower occurs; or  (4) An event occurs which is specified in the loan documents and which jeopardizes the lender's security.    (b)  (1) Temporary absences from the home not exceeding sixty (60) consecutive days shall not cause the mortgage to become due and payable.  (2) Extended absences from the home exceeding sixty (60) consecutive days but less than one (1) year shall not cause the mortgage to become due and payable if the borrower has taken prior action which secures and protects the home in a manner satisfactory to the lender.    (c)  (1) The lender's right to collect reverse mortgage loan proceeds shall be subject to the applicable statute of limitations for written loan contracts.  (2) Notwithstanding any other provision of law, the statute of limitations shall commence on the date that the reverse mortgage loan becomes due and payable as provided in the loan agreement.
AR Code § 23-54-109 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 54 - Reverse Mortgage Protection Act|§ 23-54-109. Remedies

 (a) A lender who fails to make loan advances as required in the loan documents shall pay the borrower triple the amount wrongfully withheld plus interest at the maximum legal rate.  (b) No arrangement, transfer, or lien subject to this chapter shall be invalidated solely because of the failure of a lender to comply with any provision of this chapter.  (c) Nothing in this section shall preclude the application of any other civil remedy provided by law.
AR Code § 23-60-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-101. Title

 This code constitutes the Arkansas Insurance Code.
AR Code § 23-60-103 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-103. Application of code

 Unless otherwise expressly provided for in the Arkansas Insurance Code, no provision of the Arkansas Insurance Code shall apply with respect to the following entities:   (1) Domestic stipulated premium insurers, as identified in § 23-70-101 et seq., concerning stipulated premium insurers except as stated in those sections;  (2) Assessment life, health, and accident insurers, as identified in § 23-72-102 et seq., concerning assessment life and disability insurers except as stated in those sections;  (3) Farmers' mutual aid associations or companies, as identified in § 23-73-102 et seq., concerning farmers' mutual aid associations or companies except as stated in those sections, but excepting the requirements for fraudulent insurance acts prevention, codified in § 23-66-501 et seq., and including the payment of assessments due from insurers and other licensees under the State Insurance Department Criminal Investigation Division Trust Fund Act, § 23-100-101 et seq., which shall apply to farmers' mutual aid associations or companies;  (4) Fraternal benefit societies, as identified in § 23-74-101 et seq., concerning fraternal benefit societies except as stated in those sections; and  (5) Nonprofit vision service plan corporations composed of at least fifty (50) participating optometrists or ophthalmologists licensed by the State of Arkansas to provide vision care services on a prepaid basis when each licensed optometrist or ophthalmologist is subject to the rules of the professional's respective state board and when each participating licensed optometrist or ophthalmologist agrees to assume responsibility for completion of the provisions of the vision care services contracted for so that no element of risk is incurred by any subscriber group or person.
AR Code § 23-60-105 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-105. Particular provisions prevail

 Provisions of the Arkansas Insurance Code relative to a particular kind of insurance or a particular type of insurer or to a particular matter shall prevail over provisions relating to insurance in general or insurers in general or to such matters in general.
AR Code § 23-60-106 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-106. Prior acts, offenses, rights, etc., not affected

 The Arkansas Insurance Code shall not impair or affect any act done; offense committed or right accruing, accrued, or acquired; or liability, penalty, forfeiture, or punishment incurred prior to the time the Arkansas Insurance Code takes effect, but the same may be enjoyed, asserted, enforced, prosecuted, or inflicted, as fully and to the same extent as if the Arkansas Insurance Code had not been passed.
AR Code § 23-60-107 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-107. Captions and headings not to affect meaning

 The scope and meaning of any provision shall not be limited or otherwise affected by the caption or heading of any chapter, section, or provision.
AR Code § 23-60-108 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-108. Penalty generally

 Unless a greater penalty is provided by another law of this state, a violation of a statute or rule enforceable by the Insurance Commissioner is punishable:   (1) By the refusal, suspension, revocation, or nonrenewal of a license or certificate of authority; and  (2) A fine no greater than one thousand dollars ($1,000) per violation, not to exceed fifty thousand dollars ($50,000) in any six-month period.
AR Code § 23-60-109 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-109. Penalty for false or misleading statements

 Any person who files any statement, application, form, or other document required to be filed by the Arkansas Insurance Code knowing the statement or information contained in the document to be false or misleading in any material respect shall be guilty of a Class D felony.
AR Code § 23-60-110 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-110. Compliance with code required

 No person shall transact a business of insurance in Arkansas, or relative to a subject of insurance resident, located, or to be performed in Arkansas, without complying with the applicable provisions of the Arkansas Insurance Code.
AR Code § 23-60-111 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-111. Civil liability

 (a) In the absence of fraud or bad faith, no civil cause of action of any nature shall arise against the person for supplying any information:  (1) Relating to suspected fraudulent insurance acts furnished to or received from law enforcement officials or their agents and employees;  (2) Relating to suspected fraudulent insurance acts furnished to or received from other persons subject to the provisions of the insurance laws of this state; or  (3) Furnished in reports to the State Insurance Department, National Association of Insurance Commissioners, or any organization established to detect and prevent fraudulent insurance acts or their agents, employees, or designees.    (b) Neither the Insurance Commissioner nor any employee of the department, in the absence of fraud or bad faith, shall be subject to civil liability, and no civil cause of action of any nature shall arise against the person by virtue of the publication of any report or bulletin related to the official activities of the department.  (c) Nothing in this section is intended to abrogate or modify in any way any common law or statutory privilege or immunity heretofore enjoyed by any person.
AR Code § 23-60-112 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 60 - General Provisions|§ 23-60-112. American Law Institute — Restatement not public policy

 A statement of the law in the American Law Institute's Restatement of the Law, Liability Insurance does not constitute the public policy of this state if the statement of the law is inconsistent or in conflict with, or otherwise not addressed by:   (1) A statute of the State of Arkansas;  (2) The common law and statute law of England as adopted in Arkansas under § 1-2-119; or  (3) Arkansas case law precedent.
AR Code § 23-68-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 3 - Insurance|Chapter 68 - Rehabilitation and Liquidation of Insurance Companies|§ 23-68-101. Uniform Insurers Liquidation Act

 (1) Section 23-68-102(2)-(13), together with §§ 23-68-101, 23-68-104, 23-68-105, 23-68-113, and 23-68-115 — 23-68-120, constitute and may be referred to as the “Uniform Insurers Liquidation Act”.  (2) The Uniform Insurers Liquidation Act shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states that enact it. To the extent that its provisions when applicable conflict with other provisions of this chapter, the provisions of such act shall control.