reglab/housing_qa huggingface dataset:
AR Code § 23-37-807 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-807. Applications to the board for approval

 (a) Whenever an application is filed as required under § 23-37-806, or if approval of the Savings and Loan Association Board [abolished] pursuant to this section is required under § 23-37-810, the board shall approve the transaction if it is otherwise approved as required by applicable laws, and if, in addition:  (1) The laws of the state in which the southern region association or southern region savings and loan holding company, as applicable, filing the application has its principal place of business permit Arkansas associations and Arkansas savings and loan holding companies, as applicable, to acquire associations and savings and loan holding companies in that state;  (2) Under the laws of the state where it has its principal place of business, the southern region association or southern region savings and loan holding company filing the application could be acquired by the Arkansas association or Arkansas savings and loan holding company, as applicable; and  (3) Each Arkansas association sought to be acquired directly or indirectly in the proposed transaction has been in existence and continuously operated as an association for a period of five (5) years or more prior to the date the application for approval of the transaction was filed with the board. This requirement does not prohibit a southern region association or southern region savings and loan holding company from acquiring all or substantially all of the ownership of an Arkansas association organized solely for the purpose of facilitating the acquisition of an Arkansas association in existence and continuously operated as an association for the requisite five-year period.    (b) The board shall rule on any application requiring approval under this section not later than ninety (90) days following the date of acceptance of a completed application seeking approval of the proposed transaction. If the board fails to rule on the application within the requisite ninety-day period, the proposed transaction is approved.  (c) The applicant is entitled to notice and a hearing contesting the denial by the board of any application.
AR Code § 23-37-808 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-808. Permissible nondisqualified acquisitions

 A southern region association, a southern region savings and loan holding company, an Arkansas association, or an Arkansas savings and loan holding company may acquire or control, and does not cease to be a southern region association, a southern region savings and loan holding company, an Arkansas association, or Arkansas savings and loan holding company, respectively, by virtue of its acquisition or control of an association or savings and loan holding company other than as expressly permissible under §§ 23-37-806 and 23-37-807 if:   (1) Immediately following the consummation of the acquisition, the Arkansas association, Arkansas savings and loan holding company, southern region association, or southern region savings and loan holding company qualifies as such; and  (2) The association or savings and loan holding company making the application complies with the approval and notification requirements in §§ 23-37-806 and 23-37-807.
AR Code § 23-37-809 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-809. Prohibited acquisitions

 (a) Except as specifically permitted under § 23-37-812, no Arkansas association, Arkansas savings and loan holding company, southern region association, or southern region savings and loan holding company having an Arkansas association subsidiary may acquire an association or savings and loan holding company which is not either an Arkansas savings and loan holding company or a southern region savings and loan holding company or an association which is not either an Arkansas association or a southern region association.  (b) Except as expressly permitted by federal law, no association which is not either an Arkansas association or a southern region association and no savings and loan holding company which is not either an Arkansas savings and loan holding company or a southern region savings and loan holding company may acquire an Arkansas association, an Arkansas savings and loan holding company, or a southern region savings and loan holding company controlling an Arkansas association.
AR Code § 23-37-810 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-810. Acquirer of an Arkansas association or Arkansas savings and loan holding company subject to Arkansas laws

 Any southern region association or southern region savings and loan holding company which directly or indirectly acquires an Arkansas association or an Arkansas savings and loan holding company is subject to all the laws of this state relating to the acquisition, ownership, expansion, and operation of Arkansas associations and Arkansas savings and loan holding companies.
AR Code § 23-37-811 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-811. Registration of association — Reports — Rules

 (a) Each Arkansas association, Arkansas savings and loan holding company, southern region association controlling an Arkansas association, and southern region savings and loan holding company controlling an Arkansas association which engages in a transaction which requires approval of the Savings and Loan Association Board [abolished] pursuant to § 23-37-807 shall, within thirty (30) days after approval of the transaction, initially register and file annually with the board forms prescribed by the board. These forms shall include such information with respect to the financial condition and operations, management, and relations between applicable associations and savings and loan holding companies, and related matters, as the board may consider necessary or appropriate to carry out the purposes of these sections.  (b) To the extent authorized by law, the board may make examinations of each association or savings and loan holding company required to be registered pursuant to subsection (a) of this section and any service corporation of the association, the cost of which must be assessed against and paid by the association.  (c) The board may enter into cooperative and reciprocal agreements with the association and savings and loan holding company regulatory authorities of any state or of the United States for the periodic examination of associations and savings and loan holding companies that are required to be registered under the provisions of subsection (a) of this section and may accept reports of examinations and other records from the authorities in lieu of conducting its own examinations.  (d) The board may establish rules to carry out the purposes of this subchapter.
AR Code § 23-37-812 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 37 - Savings And Loan Associations|Subchapter 8 - Regional Savings and Loan Act of 1987|§ 23-37-812. Determination of total deposits

 For purposes of this subchapter, the total deposits of savings and loan associations within the region shall be determined by reference to the records of the Federal Home Loan Bank Board [abolished], Washington D.C.
AR Code § 23-39-402 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 4 - Prohibition of Advance Fee Loan Brokerage|§ 23-39-402. Nonexclusive remedy

 Nothing in this subchapter limits the rights or remedies which are otherwise available to a consumer under any other law.
AR Code § 23-39-403 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 4 - Prohibition of Advance Fee Loan Brokerage|§ 23-39-403. Liability of loan broker's principal

 A principal of a loan broker shall be liable under this subchapter to the same extent as the loan broker himself or herself for any actions on behalf of the loan broker, or the loan broker's agents or employees, which violate this subchapter.
AR Code § 23-39-404 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 4 - Prohibition of Advance Fee Loan Brokerage|§ 23-39-404. Prohibited acts

 It shall be unlawful for a loan broker to:   (1) Assess or collect an advance fee from a borrower to provide services as a loan broker; or  (2) Make or use unfair, false, misleading, or deceptive representations or to omit any material fact in the offer or sale of the services of a loan broker, or to engage, directly or indirectly, in any act that operates or would operate as an unfair, false, misleading, or deceptive representation in his or her business dealings.
AR Code § 23-39-405 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 4 - Prohibition of Advance Fee Loan Brokerage|§ 23-39-405. Remedies and penalties

 (a)  (1) A violation of any of the provisions of this subchapter 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 him or her for the enforcement of this subchapter.  (3) In any action brought by the Attorney General pursuant to this subsection, the Attorney General may also recover on behalf of borrowers the amounts specified under subsection (b) of this section.    (b)  (1) A borrower may bring an action against the loan broker, its principals, employees, or agents, and against the surety bond, or trust account, if any, of the loan broker as a result of a violation of this subchapter.  (2) The action shall be brought in the county in which the solicitation was made, and the court shall award:  (A) An amount of three (3) times the amount paid by the borrower for the loan services or one thousand dollars ($1,000), whichever is greater;  (B) Incidental and consequential damages; and  (C) Costs and reasonable attorney's fees.      (c) A permanent injunction, judgment, or order of the court obtained by the Attorney General pursuant to this section shall be prima facie evidence in an action brought under this section that the defendant used or employed a method, act, or practice declared unlawful by this subchapter.  (d) A person bringing an action under this section shall bring the action within one (1) year after any action brought by the Attorney General has been terminated or two (2) years after the violation occurred, whichever is later.  (e)  (1) Any person who knowingly commits a practice defined as unlawful by this subchapter shall be guilty of a Class D felony and, upon conviction in the circuit court of any county in this state in which any portion of the unlawful practice occurred, shall be subject to punishment accordingly.  (2) If the person is a corporation, the penalties of this subsection also apply to a director, officer, or individual agent of a corporation who knowingly authorizes, orders, or performs an act in violation of this subchapter without regard to penalties imposed on the corporation.
AR Code § 23-39-501 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 5 - Fair Mortgage Lending Act|§ 23-39-501. Title

 This subchapter may be referred to as the “Fair Mortgage Lending Act”.
AR Code § 23-39-503 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 5 - Fair Mortgage Lending Act|§ 23-39-503. License required — Licensee records

 (a) It is unlawful for any person located in Arkansas other than an exempt person to act or attempt to act, directly or indirectly, as a mortgage broker, mortgage banker, loan officer, transitional loan officer, or mortgage servicer without first obtaining a license from the Securities Commissioner under this subchapter.  (b) It is unlawful for any person other than an exempt person to act or attempt to act, directly or indirectly, as a mortgage broker, mortgage banker, loan officer, transitional loan officer, or mortgage servicer with any person located in Arkansas without first obtaining a license from the commissioner under this subchapter.  (c) It is unlawful for any person other than an exempt person to employ, to compensate, or to appoint as its agent any person to act as a loan officer unless the loan officer is licensed as a loan officer or a transitional loan officer under this subchapter.  (d)  (1)  (A) The license of a loan officer terminates when the loan officer's employment by or relationship with a mortgage broker or mortgage banker licensed under this subchapter terminates.  (B) A transitional loan officer license terminates when the transitional loan officer's employment by or relationship with a mortgage broker or mortgage banker licensed under this subchapter terminates.    (2) When a loan officer or a transitional loan officer ceases to be employed by a mortgage broker or mortgage banker licensed under this subchapter or ceases to act as a loan officer or as a transitional loan officer, the mortgage broker or mortgage banker with which the person was affiliated or by which that person was employed shall notify the commissioner in writing within thirty (30) days from the date on which the loan officer or the transitional loan officer ceased to be employed or ceased activities as a loan officer or as a transitional loan officer.  (3)  (A) A licensee that does not comply with subdivision (d)(2) of this section shall pay a late fee of two hundred fifty dollars ($250) for failure to timely notify the commissioner.  (B) The late fee may be waived, in whole or in part, at the sole discretion of the commissioner and for good cause shown.    (4) A loan officer or a transitional loan officer shall not be employed simultaneously by more than one (1) mortgage broker or mortgage banker licensed under this subchapter.    (e) Each mortgage broker and mortgage banker licensed under this subchapter shall maintain a list of all loan officers and all transitional loan officers employed by the mortgage broker or mortgage banker and who engage or attempt to engage in business with any person in Arkansas.  (f) No person other than an exempt person shall hold himself or herself out as a mortgage banker, mortgage broker, mortgage servicer, loan officer, or transitional loan officer unless the person is licensed in accordance with this subchapter.
AR Code § 23-39-504 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 5 - Fair Mortgage Lending Act|§ 23-39-504. Rulemaking authority

 The Securities Commissioner may adopt any rules that he or she deems necessary to:   (1) Carry out the provisions of this subchapter;  (2) Provide for the protection of the borrowing public; and  (3) Provide any requirements necessary for the State of Arkansas to participate in a multistate automated licensing system; and  (4) Instruct mortgage brokers, mortgage bankers, mortgage servicers, loan officers, and transitional loan officers in interpreting this subchapter.
AR Code § 23-39-507 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 5 - Fair Mortgage Lending Act|§ 23-39-507. Continuing education

 (a) In addition to the other licensing requirements under this subchapter, the Securities Commissioner may adopt rules to require continuing education of licensees under this subchapter for the purpose of enhancing the professional competence and professional responsibility of mortgage bankers, mortgage brokers, mortgage servicers, and loan officers and may condition the renewal of a license upon compliance with the commissioner's rules.  (b) The rules under subsection (a) of this section may include criteria for:  (1) The content of continuing education courses;  (2) Accreditation of continuing education sponsors and programs;  (3) Accreditation of videotape or other audiovisual programs;  (4) Computation of credit;  (5) Special cases and exemptions;  (6) General compliance procedures; and  (7) Sanctions for noncompliance with the continuing education requirements.    (c) Annual continuing professional education requirements shall be determined by the commissioner but shall not exceed eight (8) credit hours within a one-year period.
AR Code § 23-39-508 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 5 - Fair Mortgage Lending Act|§ 23-39-508. Managing principals and branch managers

 (a)  (1) Each mortgage broker, mortgage banker, or mortgage servicer licensed under this subchapter shall have a managing principal who operates the business under that person's full charge, control, and supervision.  (2) The managing principal shall:  (A) Have at least three (3) years of experience in mortgage lending; or  (B) Meet the experience and competency requirements prescribed by rule or order of the Securities Commissioner.      (b) Any individual licensee who operates as a sole proprietorship shall be considered a managing principal for the purposes of this subchapter.  (c) The managing principal for a licensee may also serve as the branch manager of one (1) or more of the licensee's branch offices.  (d)  (1) Each branch office of a mortgage broker, mortgage banker, or mortgage servicer licensed under this subchapter shall have a designated branch manager who is in charge of and who is responsible for the business operations of a branch office.  (2) Each branch manager of a mortgage broker or mortgage banker must be licensed as a loan officer.    (e) Each mortgage broker, mortgage banker, or mortgage servicer licensed under this subchapter shall file a form as prescribed by the Securities Commissioner indicating the licensee's designation of managing principal and branch manager for each branch and each individual's acceptance of the responsibility as managing principal or branch manager.  (f) Each mortgage broker, mortgage banker, or mortgage servicer licensed under this subchapter shall notify the commissioner within thirty (30) days of any change in its managing principal or branch manager designated for each branch.  (g)  (1) A mortgage broker, mortgage banker, or mortgage servicer that does not comply with this section shall pay a late fee of two hundred fifty dollars ($250).  (2) All or part of the late fee may be waived by the commissioner for good cause.  (3) The commissioner may revoke or suspend the license of any mortgage broker, mortgage banker, or mortgage servicer who fails to pay any late fee assessed under subdivision (g)(1) of this section.
AR Code § 23-39-509 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 39 - Mortgage Loan Companies and Loan Brokers|Subchapter 5 - Fair Mortgage Lending Act|§ 23-39-509. Offices — Address changes — Location of records

 (a) A mortgage broker, mortgage banker, and mortgage servicer shall maintain a principal place of business.  (b) A mortgage broker, mortgage banker, and mortgage servicer shall identify the location in which the licensee's books, records, and files pertaining to mortgage loan transactions are maintained.  (c) The Securities Commissioner by rule may impose terms and conditions under which the records and files shall be maintained, including if the records must be maintained in this state.  (d) A principal place of business or branch office from which a mortgage broker, mortgage banker, or mortgage servicer conducts mortgage loan activity or business shall be a physical address. Mortgage loan activity or business includes without limitation the address appearing on business cards, stationery, promotional materials, or advertising.  (e)  (1) A mortgage banker, mortgage broker, or mortgage servicer shall report a change of address of the principal place of business, a branch office, or a location in which the files pertaining to mortgage loan transactions are maintained within thirty (30) days after the change.  (2)  (A) A licensee that does not comply with subdivision (e)(1) of this section shall pay a late fee of two hundred fifty dollars ($250).  (B) All or part of the late fee may be waived by the commissioner for good cause.    (3) The commissioner may revoke or suspend the license of a mortgage broker, mortgage banker, or mortgage servicer who fails to pay a late fee assessed under subdivision (e)(2) of this section.    (f) A mortgage broker, mortgage banker, or mortgage servicer that ceases to do business in this state shall:  (1) Notify the commissioner within thirty (30) days after the mortgage broker, mortgage banker, or mortgage servicer ceases to do business in this state that the mortgage broker, mortgage banker, or mortgage servicer has ceased to do business in this state; and  (2) Provide the commissioner the address where all records pertaining to loans made or serviced in this state will be maintained for the period of time required by this subchapter or rule of the commissioner.