reglab/housing_qa huggingface dataset:
AR Code § 23-40-107 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-107. Division of Prepaid Funeral Benefits — State Insurance Department Prepaid Trust Fund

 (a) The Insurance Commissioner shall be responsible for the regulation of the sale of prepaid funeral benefits, and there is hereby established the Division of Prepaid Funeral Benefits within the State Insurance Department. This division shall be funded annually by the fees required to be paid by organizations subject to this chapter, which shall be placed in trust and disbursed pursuant to this chapter.  (b) There is hereby established on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a fund to be known as the “State Insurance Department Prepaid Trust Fund” to be used to pay the expenses of the State Insurance Department in the discharge of its regulation of prepaid funeral benefits contracts.  (c) No money shall be appropriated from this fund for any purpose other than to pay for personal services, operating expenses, maintenance and operations, and support of and improvements to the division, except as provided in § 23-40-119(f).  (d) The fund established pursuant to this section shall be administered, disbursed, and invested under the direction of the commissioner and the Treasurer of State.  (e) All income derived through the investment of the fund, including, but not limited to, interest and dividends, shall be credited as investment income to the fund.  (f) All income derived through grants, refunds, and gifts to the fund shall be credited as income to the fund.  (g) All moneys deposited to the fund shall not be subject to any deduction, tax, levy, or any other type of assessment, except as provided in this chapter.  (h) All fees required to be paid by licensees pursuant to this chapter shall be deposited into the fund for the support, operation, and maintenance of the division and, when paid into the State Treasury by the commissioner, shall be maintained by the Treasurer of State as the State Insurance Department Prepaid Trust Fund, separate from all other funds, and available only for the payment of the expenses of the division, except as provided in § 23-40-119(f).  (i) Upon proper voucher from the commissioner, the Auditor of State shall issue his or her warrant on the Treasurer of State in payment of all salaries and other expenses incurred by the division, or for any reparations awarded under § 23-40-119(f) in the administration of this chapter.  (j) However, as needed, the commissioner shall transfer from the State Insurance Department Prepaid Trust Fund to the Prepaid Funeral Contracts Recovery Program Fund a sum or sums sufficient to administer and provide reparations to persons as provided under § 23-40-119(d)(1)(A) and (f)(1).
AR Code § 23-40-108 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-108. Administration

 (a) This chapter shall be administered by the Insurance Commissioner.  (b) The commissioner is authorized to prescribe reasonable rules concerning keeping and inspection of records, the filing of contracts and reports, and all other matters incidental to the orderly administration of this chapter.  (c) The commissioner is authorized to employ the personnel necessary to carry out the provisions of this chapter and to fix their compensation within the amounts made available by appropriation.  (d) The commissioner may make and promulgate reasonable rules for the administration of this chapter and for the purpose of carrying out the intent hereof.
AR Code § 23-40-109 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-109. Permit required

 (a) Any individual, firm, partnership, corporation, society, association, or other entity, hereinafter called an “organization”, desiring to sell prearranged or prepaid funeral services or funeral merchandise, including caskets, grave vaults, and all other articles of merchandise incidental to funeral services, in this state under a sales contract providing for prepaid disposition or funeral benefits or merchandise to be delivered at an undetermined future date depending upon the death of a contracting party, hereinafter called “prepaid funeral benefits”, or any organization desiring to purchase an interest in, or assume the liability of, any contract for prepaid funeral benefits, shall obtain a permit from the Insurance Commissioner authorizing the transaction of this type of business before entering into any such agreement or contract and prior to accepting money, property, or any other direct or indirect consideration and shall first apply for and obtain a prepaid funeral benefits permit or license pursuant to the provisions of this chapter.  (b) An organization desiring to sell prepaid funeral benefits or otherwise own any interest in any contract for prepaid funeral benefits shall file proof of ownership of an establishment which is in the business of providing the funeral goods or services to be contracted for and proof that the establishment is duly authorized and licensed to do such business in the State of Arkansas.  (c) It shall be unlawful to sell prepaid funeral benefits unless the seller holds a valid, current permit at the time the contract is made.
AR Code § 23-40-110 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-110. Application for initial or renewed permit

 (a) Each organization desiring to sell prepaid funeral benefits or any organization desiring to purchase an interest in or assume the liability of any contract for prepaid funeral benefits shall file an application for a permit with the Insurance Commissioner. Each initial and renewal application for a permit shall contain such information which the commissioner by rule shall reasonably prescribe.  (b) Each applicant shall, at the time of the application, pay a filing fee of three hundred dollars ($300) for the initial application and two hundred dollars ($200) for a renewal application.  (c) Permits shall expire on June 1 of each year, unless a renewal application is filed with and approved by the commissioner prior to the permit expiration date. Each organization which has discontinued the sale of prepaid funeral benefits, but which still has outstanding contracts, shall obtain a renewal of its permit until all those contracts have been performed or otherwise fully discharged. No filing fee shall be prorated.  (d)  (1) Each applicant for a permit pursuant to the provisions of this chapter shall, as of a date not preceding thirty (30) days of the application date, have a net worth in an amount equal to the greater of five thousand dollars ($5,000) or three percent (3%) of the aggregate contract price of all contracts for prepaid funeral benefits outstanding and unfulfilled as of the end of the preceding calendar year, up to a maximum net worth of two hundred fifty thousand dollars ($250,000).  (2) Each applicant shall, at the time of application, file a sworn and notarized certification of net worth form stating that the applicant satisfies the net worth requirements of this chapter, in a format as prescribed by the commissioner, as evidence that the applicant has, at a minimum, the required net worth.
AR Code § 23-40-113 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-113. Change of ownership

 (a) The seller shall apply for change of ownership or control when:  (1) The seller transfers all or a portion of the interest in any contract for prepaid funeral benefits;  (2) The seller transfers one (1) or more of its establishments for providing funeral goods or services;  (3) All or a portion of the equity ownership of a seller has been transferred which will result in a change of:  (A) The controlling interest of a seller when the seller is a corporation;  (B) Ownership of a seller when the seller is other than a corporation;    (4) The seller transfers all of its business assets relating to providing funeral goods or services; or  (5) The seller terminates its business of providing funeral goods or services.    (b) At least fifteen (15) days prior to the proposed occurrence of an event described in subsection (a) of this section, the seller shall file a verified change of ownership application with the Insurance Commissioner which shall contain the following:  (1) The name and address of the seller;  (2) The name and address of the organization proposing to acquire property of the seller, hereinafter referred to as the “transferee”;  (3) A description of the property and of the proposed transaction, as set forth in subsection (a) of this section;  (4) An accounting of the trust fund and all outstanding contracts, which accounting shall contain all the information required in the annual report, prepared as of a date within thirty (30) days of the required application filing date;  (5) Any required documents or amendments thereto relating to the trust fund;  (6) A copy of any notice proposed to be sent to the contract buyers after the transfer;  (7) A filing fee of five hundred dollars ($500); and  (8) Any other information which may reasonably be required by the commissioner pursuant to rule or order.    (c) The commissioner shall approve the seller's application for change of ownership by written authorization if:  (1) The transferee or transferees set forth in the application hold a valid, current permit pursuant to the provisions of this chapter;  (2) The accounting required is complete, accurate, and reflects the trust fund whole and intact; and  (3) All required information and documents are filed with and approved by the commissioner.    (d) The commissioner shall have the authority by rule or order to waive or reduce any or all of the requirements contained in subsection (b) of this section as not being necessary or appropriate in the public interest or for the protection of the contract buyers.  (e) The seller, or interest therein, shall remain liable for all funds and transactions to the effective date of the transfer. The commissioner shall recover from the seller, for the benefit and protection of contract buyers, all contract proceeds which the seller has not properly accounted for and deposited into the trust fund.
AR Code § 23-40-114 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-114. Trust funds — Creation — Deposits, withdrawals, and transfers of funds

 (a) All contract proceeds collected under contracts for prepaid funeral benefits, including funds collected under contracts entered into before June 28, 1985, shall be deposited with a trustee within twenty (20) business days after receipt of proceeds, to be held, invested, and administered in a trust fund for the benefit and protection of the contract purchasers pursuant to this chapter.  (b) Each trust fund shall be created by a letter or written agreement which shall be filed with and approved by the Insurance Commissioner prior to placement of funds.  (c) The seller may deposit money or property as surplus at any time.  (d) The commissioner shall prescribe by regulation proper affidavits and forms for the withdrawal of funds from the trust fund.  (e) The commissioner shall first approve and authorize in writing any transfer of funds from an existing trustee to a proposed new trustee if the proposed new trustee meets the requirements of this chapter and the rules promulgated thereunder.  (f) The licensee shall file a request for a transfer of funds, together with a filing fee of two hundred fifty dollars ($250), and any other information required by rule.  (g) This section shall not apply to the proceeds of insurance policies or contracts, and it shall not be necessary to establish a trust for the payment of such proceeds to the beneficiary designated in the policy or contract or the assignee or transferee thereof.  (h) [Repealed.]
AR Code § 23-40-116 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-116. Trust funds — Disbursements

 The trustee shall disburse money or other property from the trust fund only as follows:   (1) Upon the death of the contract beneficiary and upon proper proof and documentation being submitted to and approved by the Insurance Commissioner, or pursuant to such other method as may be permitted under valid rules adopted by the commissioner, in which event the contract proceeds shall be paid to the seller;  (2) Upon cancellation of the prepaid contract pursuant to § 23-40-122 and upon proper proof and documentation being submitted to and approved by the commissioner, or pursuant to such other method as may be permitted under valid rules adopted by the commissioner;  (3) Upon the breach of contract by either party, in which event the contract proceeds shall be paid according to a judgment of a court of competent jurisdiction; or  (4) Upon the withdrawal of net investment income or surplus by the seller, which may be made at any time and from time to time.
AR Code § 23-40-117 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-117. Trust funds — Exemption from attachment, etc

 (a) All contract proceeds held in trust pursuant to the provisions of this chapter and all income derived therefrom shall be exempt from attachment, garnishment, execution, and claims of creditors, receivers, or trustees in bankruptcy. The trust fund shall not be seized, taken, appropriated, or applied to pay any debt or liability of the seller by any legal or equitable process or by operation of law.  (b) The seller shall notify the Insurance Commissioner within ten (10) days upon the filing of bankruptcy or upon becoming insolvent. Upon receipt of notification, the commissioner shall notify the trustee of the trust fund, and all income earned after that date shall be held in trust by the trustee and disbursed only upon the direction of the commissioner.
AR Code § 23-40-118 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-118. Agent for deposit of contract proceeds

 (a) Each organization subject to this chapter shall designate an agent or agents, either by names of the individuals or by titles of their offices or positions, who shall be responsible for the deposit of contract proceeds collected under contracts for prepaid funeral benefits. The organization shall notify the Insurance Commissioner of the designation within ten (10) days after it becomes subject to this chapter and shall also notify the commissioner of any change in the designation within ten (10) days after the change occurs.  (b) If any person acting on behalf of the seller collects any contract proceeds under a contract for prepaid funeral benefits and fails to deliver it within ten (10) days after collection to a designated agent, or if any designated agent fails to deposit the contract proceeds within twenty (20) days after receipt of proceeds, he or she shall be punished as prescribed in § 23-40-106(a)(2).
AR Code § 23-40-120 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-120. Records required — Examination

 (a) Each organization which has outstanding contracts for prepaid funeral benefits shall maintain within this state any records which the Insurance Commissioner may require to enable him or her to determine whether the organization is complying with the provisions of this chapter.  (b)  (1) The records shall be subject to examination by the commissioner, or his or her representatives, as often as he or she deems advisable and not less frequently than every three (3) years. However, the commissioner shall determine the date of original examination without regard to the date of the original permit.  (2) Each permittee examined shall pay the actual meals, hotel, and traveling expenses of each authorized examiner from Little Rock and return. The expenses shall be prorated if more than one (1) examination is made on an examination trip.  (3)  (A) All working papers, recorded information, documents, and copies produced by, obtained by, or disclosed to the commissioner or any other person in the course of an examination made under this chapter:  (i) Shall be treated as confidential;  (ii) Are not subject to subpoena; and  (iii) May not be made public by the commissioner or any other person, except to the extent provided in § 23-61-205.    (B) All working papers, financial statement analyses, ratio calculations, and any other materials produced by State Insurance Department financial examiners or analysts, or documents submitted or disclosed to the department by an insurer in response to a request from a department financial examiner or analyst during the course of reviewing or investigating the financial solvency, condition, or affairs of the organization:  (i) Shall be treated as confidential;  (ii) Are not subject to subpoena; and  (iii) May not be made public by the commissioner or any other person, except to the extent provided in § 23-61-205.    (C) A recipient of information under this section other than the commissioner or department personnel must agree in writing to provide the confidential treatment required by this section prior to receiving the information, unless the prior written consent of the company to which the information pertains has been obtained.
AR Code § 23-40-124 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-124. Compliance

 Compliance with this act shall be required for all licensees on and after March 16, 1997.
AR Code § 23-40-126 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 40 - Arkansas Prepaid Funeral Benefits Law|§ 23-40-126. Unfair competition or unfair or deceptive acts or practices prohibited — Penalties

 An unfair method of competition or an unfair or deceptive act or practice under §§ 23-66-206(1)-(4), 23-66-206(6)-(8), and 23-66-207 — 23-66-213 in the sale of a prepaid funeral benefits contract is a violation of this chapter and may be punished under this chapter or the Trade Practices Act, § 23-66-201 et seq.
AR Code § 23-44-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 44 - Commodities Futures|§ 23-44-101. Definitions

 As used in this chapter, unless the context otherwise requires:   (1) “Bucket shop” means any place of business wherein contracts are made of the sort or character denounced by § 23-44-105;  (2) “Contract for sale” means sales, purchases, agreements of sale, agreements to sell, and agreements to purchase; and  (3) “Person” means individuals, associations, partnerships, and corporations.
AR Code § 23-44-102 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 44 - Commodities Futures|§ 23-44-102. Penalties

 (a)  (1) Any person, acting either as agent or principal, who knowingly enters into or assists in making any contracts of sale of the sort or character denounced by § 23-44-105, for the future delivery of cotton, grain, stocks, or other commodities or who maintains or operates a bucket shop as that term is defined in § 23-44-101 shall be guilty of a felony and upon conviction shall be fined in a sum not to exceed one thousand dollars ($1,000) or be imprisoned in the penitentiary not exceeding two (2) years.  (2) Any person who shall be guilty of a second offense under this section, in addition to the penalties above prescribed, and upon conviction, may be both fined and imprisoned in the discretion of the court.    (b)  (1) If a corporation commits the acts prohibited by subsection (a) of this section, it shall be liable to forfeiture of all its rights and privileges as a corporation, and the continuance of the establishment after the first conviction shall be deemed a second offense.  (2) It shall be the duty of the Attorney General to institute proceedings for the forfeiture of the charter of any corporation making itself liable to forfeiture under the provisions of this chapter.
AR Code § 23-44-103 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 44 - Commodities Futures|§ 23-44-103. Requirements for validity of contracts

 (a) All contracts of sale for future delivery of cotton, grain, stocks, or other commodities shall be valid and enforceable in the courts of this state, according to their terms, if they are:  (1) Made in accordance with the rules of any board of trade, exchange, or similar institution where the contracts of sale are executed;  (2) Actually executed on the floor of the board of trade, exchange, or similar institution and performed or discharged according to the rules thereof; and  (3) Made with or through a regular member in good standing of a cotton exchange, grain exchange, or similar institution organized under the laws of the State of Arkansas or any other state.    (b) However, contracts of sale for future delivery of cotton, in order to be valid and enforceable, must not only conform to the requirements of subsection (a) of this section, but must also be made subject to the provisions of the United States Cotton Futures Act. If this clause should for any reason be held inoperative, then contracts for the future delivery of cotton shall be valid and enforceable if they conform to the requirement of subsection (a) of this section.
AR Code § 23-44-104 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 44 - Commodities Futures|§ 23-44-104. Recovery of advances under contract

 Any broker, agent, or any other person making advances to, or for account of, any party to any contract falling within and satisfying the provisions of § 23-44-103 shall be entitled to recover the amount of the advances from the party to, or for the account of, whom the advances were made.
AR Code § 23-44-105 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 44 - Commodities Futures|§ 23-44-105. Bucket shop contracts void

 Any contract of sale for the future delivery of cotton, grain, stocks, or other commodities which is to be settled according to, or upon the basis of, the public market quotation or prices made on any board of trade, exchange, or similar institution, upon which contracts of sale for future delivery are executed and dealt in without any actual bona fide execution and the carrying out or discharge of the contracts upon the floor of the exchange, board of trade, or similar institution, in accordance with the rules thereof, shall be null and void and unenforceable in any court of this state, and no action shall lie thereon at the suit of any party thereto.