reglab/housing_qa huggingface dataset:
AR Code § 23-39-510 (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|§ 23-39-510. Licensee duties

 (a) In addition to duties imposed by other statutory or common law, a person required to be licensed under this subchapter shall:  (1) Safeguard and account for any money received for, from, or on behalf of the borrower;  (2) Follow reasonable and lawful instructions from the borrower;  (3) Act with reasonable skill, care, and diligence;  (4) Make reasonable efforts with lenders with whom a mortgage broker regularly does business to secure a loan that is reasonably advantageous to the borrower considering all the circumstances, including the rates, charges, and repayment terms of the loan and the loan options for which the borrower qualifies with such lenders;  (5) Include the full name, address, and telephone number of the licensee in all solicitations and advertisements; and  (6)  (A) Provide the Securities Commissioner with a quarterly report of mortgage activity.  (B) The commissioner may designate by rule or order the information to be provided in the quarterly report.      (b) At the time a mortgage servicer accepts assignment of servicing rights for a mortgage loan in this state, the mortgage servicer shall disclose to the borrower the following:  (1) Any notice required by the Real Estate Settlement Procedures Act of 1974, 12 U.S.C. § 2601 et seq., as it existed on January 1, 2017, or by regulations promulgated thereunder; and  (2) A notice in a clear and conspicuous form and content that the mortgage servicer is licensed in Arkansas and that complaints about the mortgage servicer may be submitted to the commissioner.    (c) The unique identifier of a person soliciting or originating a mortgage loan shall be clearly shown on all mortgage loan application forms, solicitations, advertisements, business cards, websites, and any other document or medium established by rule or order of the commissioner.
AR Code § 23-39-511 (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|§ 23-39-511. Records — Escrow funds or trust accounts

 (a) The Securities Commissioner shall keep a list of all applicants for licensure under this subchapter that includes:  (1) The applicant's name;  (2) The date of application;  (3) The applicant's place of residence; and  (4) Whether the license was granted or refused.    (b)  (1) The commissioner shall keep a current roster showing the names and places of business of all licensees that shows their respective loan officers and their respective transitional loan officers.  (2) The roster under subdivision (b)(1) of this section shall:  (A) Be kept on file in the office of the commissioner;  (B) Contain information regarding all orders or other actions taken against the licensees and other persons; and  (C) Be open to public inspection.      (c) Every licensee shall make and keep the accounts, correspondence, memoranda, papers, books, and other records as prescribed in rules adopted by the commissioner.  (d)  (1) If the information contained in any document filed with the commissioner is or becomes inaccurate or incomplete in any material respect, the licensee shall file a correcting amendment to the information contained in the document within thirty (30) days from the date on which the change takes place.  (2)  (A) Any licensee that does not comply with subdivision (d)(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.      (e)  (1) A licensee shall maintain in a segregated escrow fund or trust account any funds that come into the licensee's possession but that are not the licensee's property and which the licensee is not entitled to retain under the circumstances.  (2) The escrow fund or trust account under subdivision (e)(1) of this section shall be held on deposit in a federally insured financial institution.
AR Code § 23-39-515 (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|§ 23-39-515. Review of order of the commissioner

 (a)  (1) Any person aggrieved by a final order of the Securities Commissioner may obtain a review of the order by filing in the Pulaski County Circuit Court within sixty (60) days after the entry of the order a written petition praying that the order be modified or set aside in whole or in part.  (2)  (A) A copy of the petition shall be served upon the commissioner, after which the commissioner shall certify and file in court a copy of the filing and evidence upon which the order was entered.  (B) When a petition under subdivision (a)(1) of this section has been filed, the court has exclusive jurisdiction to affirm, modify, enforce, or set aside any order of the commissioner in whole or in part, except that a court may not set aside a summary order entered by the commissioner when the subject of the order has not requested a hearing before the commissioner as provided in § 23-39-514(c)(1) or (d)(1).      (b)  (1) The findings of the commissioner as to the facts are conclusive if supported by competent, material, and substantial evidence.  (2) If either party applies to the court for leave to submit additional material evidence and shows to the satisfaction of the court that there were reasonable grounds for failure to submit the evidence in the hearing before the commissioner, the court may order the additional evidence to be taken before the commissioner and to be submitted upon the hearing before the commissioner in any manner and upon any condition as the court considers to be proper.  (3) After consideration of the additional evidence, the commissioner may modify his or her findings and order and shall file in the court the additional evidence together with any modified or new findings or order.    (c) Unless specifically ordered by the court, the commencement of proceedings under subsection (a) of this section does not operate as a stay of the commissioner's order.
AR Code § 23-39-516 (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|§ 23-39-516. Criminal penalty

 (a) It is unlawful for any person to make or cause to be made in any document filed with the Securities Commissioner or in any proceeding under this subchapter any statement that is, at the time and in the light of the circumstances under which it is made, false or misleading in any material respect.  (b)  (1) A person is guilty of a Class B felony if he or she:  (A) Willfully violates any provision of this subchapter, except subsection (a) of this section;  (B) Willfully violates subsection (a) of this section knowing the statement to be false or misleading in any material respect; or  (C) Willfully violates any rule under this subchapter or any order of the commissioner.    (2) Each transaction involving the unlawful making or brokering of a mortgage loan is a separate offense.    (c) No person may be imprisoned for violation of any order of the commissioner unless the person had actual knowledge of the order.  (d) The commissioner may refer any available evidence concerning violations of this subchapter or any rule or order issued under this subchapter to the appropriate prosecuting authority who, with or without the reference, may institute the appropriate criminal proceedings under this subchapter.  (e) This subchapter does not limit the power of the state to punish any person for any conduct that constitutes a crime under any statute or common law.
AR Code § 23-42-101 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 1 - General Provisions|§ 23-42-101. Title

 This chapter may be cited as the “Arkansas Securities Act”.
AR Code § 23-42-103 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 1 - General Provisions|§ 23-42-103. Applicability

 (a)  (1) Sections 23-42-106, 23-42-108, 23-42-109, 23-42-212, 23-42-301(a), 23-42-501, and 23-42-507 apply to persons who sell or offer to sell when:  (A) An offer to sell is made in this state; or  (B) An offer to buy is made and accepted in this state.    (2) Sections 23-42-212, 23-42-301(a), and 23-42-507 apply to persons who buy or offer to buy when:  (A) An offer to buy is made in this state; or  (B) An offer to sell is made and accepted in this state.    (3) For the purpose of this section, an offer to sell or to buy is made in this state, whether or not either party is then present in this state, when the offer:  (A) Originates from this state; or  (B) Is directed by the offeror to this state and received at the place to which it is directed or at any post office in this state in the case of a mailed offer.    (4)  (A) For the purpose of this section, an offer to buy or to sell is accepted in this state when acceptance:  (i) Is communicated to the offeror in this state; and  (ii) Has not previously been communicated to the offeror, orally or in writing, outside this state.    (B) Acceptance is communicated to the offeror in this state, whether or not either party is then present in this state, when the offeree directs it to the offeror in this state reasonably believing the offeror to be in this state and it is received at the place to which it is directed or at any post office in this state in the case of a mailed acceptance.    (5) An offer to sell or to buy is not made in this state when:  (A) The publisher circulates, or there is circulated on his or her behalf, in this state any bona fide newspaper or other publication of general, regular, and paid circulation which is not published in this state, or which is published in this state but has had more than two-thirds (2/3) of its circulation outside this state during the past twelve (12) months; or  (B) A radio or television program originating outside this state is received in this state.      (b) Sections 23-42-307, 23-42-301(c), as well as § 23-42-212, so far as investment advisers are concerned, apply when any act instrumental in effecting prohibited conduct is done in this state, whether or not either party is then present in this state.
AR Code § 23-42-104 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 1 - General Provisions|§ 23-42-104. Criminal penalties

 (a) Any person who knowingly violates § 23-42-507 shall be guilty of the offense of “securities fraud”. Securities fraud is a Class B felony.  (b) Any person who knowingly violates § 23-42-501 shall be guilty of the offense of “felony offer or sale of unregistered and nonexempt securities”. Felony offer or sale of unregistered and nonexempt securities is a Class D felony.  (c) Any person who negligently violates § 23-42-501 shall be guilty of the offense of “offer or sale of unregistered and nonexempt securities”. Offer or sale of unregistered and nonexempt securities is a Class A misdemeanor.  (d) Any person who knowingly violates any rule or order of the Securities Commissioner shall be guilty of a Class B misdemeanor. No person may be imprisoned for a violation of any rule or order of which that person did not have actual knowledge.  (e) Any person who knowingly engages in any unlawful conduct prohibited by this chapter, except as provided in subsection (a), subsection (b), subsection (c), or subsection (d) of this section, shall be guilty of a Class D felony.  (f) “Purposely”, “knowingly”, “recklessly”, “negligently”, and the classes of felonies and misdemeanors set forth in this section shall be as defined and have such penalties as set forth in the Arkansas Criminal Code.  (g) Nothing in this chapter limits the power of the state to punish any person for any conduct which constitutes a crime by statute or common law.  (h) The provisions of subsection (e) of this section shall not apply to any violation of § 23-42-509.
AR Code § 23-42-105 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 1 - General Provisions|§ 23-42-105. Prosecution of criminal offenses

 (a)  (1) Prosecutions for offenses described in § 23-42-104 must be commenced within the following periods of limitation:  (A) Felonies — five (5) years from the date of the occurrence; and  (B) Misdemeanors — one (1) year from the date of the occurrence.    (2) The five-year felony and one-year misdemeanor period of limitation does not begin to run until after the commission of the last overt act in the furtherance of a scheme or course of conduct.    (b) For the purposes of venue for any civil or criminal action under this chapter, any violation of this chapter or of any rule or order promulgated hereunder shall be considered to have been committed in:  (1) Any county in which any act was performed in furtherance of the transaction which violated this chapter;  (2) Any county in which the principal or an aider or abettor initiated or acted in furtherance of a course of conduct;  (3) Any county from which any violator gained control or possession of any proceeds of the violation or of any books, records, documents, or other material or objects which were used in furtherance of the violation; or  (4) Any county from which or into which the violator directed any postal, telephonic, electronic, or other communication in furtherance of the violation.    (c) The Securities Commissioner may refer such evidence as is available concerning violations of this chapter or any rule or order hereunder to any appropriate prosecuting authority.
AR Code § 23-42-108 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 1 - General Provisions|§ 23-42-108. Rights and remedies cumulative

 The rights and remedies provided by this chapter are in addition to any other rights that may exist at law or in equity.
AR Code § 23-42-109 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 1 - General Provisions|§ 23-42-109. Waiver of compliance void

 Any condition, stipulation, or provision binding any person acquiring any security to waive compliance with any provision of this chapter or any rule or order under this chapter is void.
AR Code § 23-42-110 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 1 - General Provisions|§ 23-42-110. False or misleading statements unlawful

 It is unlawful for any person to make or cause to be made, in any document filed with the Securities Commissioner or the commissioner's designee or in any proceeding under this chapter, any statement which is, at the time in light of the circumstances under which it is made, false or misleading in any material respect.
AR Code § 23-42-201 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 2 - Administration|§ 23-42-201. Administration by Securities Commissioner — Conflicts of interest

 (a)  (1) This chapter shall be administered by the Securities Commissioner, who shall be appointed by the Governor and who shall serve at the pleasure of the Governor.  (2) The commissioner shall report to the Secretary of the Department of Commerce.    (b)  (1) There is created within the Department of Commerce the State Securities Department.  (2) The State Securities Department shall have all the powers and duties assigned pursuant to Acts 1983, No. 691, and all subsequent delegations of authority.    (c) No person shall serve in the State Securities Department or in the Department of Commerce working for the State Securities Department in any capacity who engages in any activities regulated under the provisions of this chapter.
AR Code § 23-42-202 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 2 - Administration|§ 23-42-202. Delegation of authority by Securities Commissioner

 (a) The Securities Commissioner may delegate to any person under any conditions which he or she deems appropriate any responsibilities of the commissioner as set forth in this chapter, the Credit Union Act, § 23-35-101 et seq., the Savings and Loan Act, § 23-37-101 et seq., or any other act for which the commissioner is responsible.  (b) The commissioner, subject to any restrictions which he or she in his or her discretion deems appropriate, may delegate to any person the exercise or discharge in the commissioner's name of any power, duty, or function, whether ministerial, discretionary, or of whatever character, vested by this chapter in the commissioner.
AR Code § 23-42-203 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 2 - Administration|§ 23-42-203. Confidentiality of information or proceedings generally

 (a) It is unlawful for the Securities Commissioner or any of the officers or employees of the State Securities Department or officers or employees of the Department of Commerce working for the State Securities Department to use for personal benefit any information which is filed with or obtained by the commissioner and which is not made public.  (b) Neither the commissioner nor any of the officers or employees of the State Securities Department or officers or employees of the Department of Commerce working for the State Securities Department shall disclose the information except among themselves or when necessary or appropriate in a proceeding or investigation under this chapter or in any judicial proceedings when the information is not privileged.  (c) No provision of this chapter either creates or derogates from any privilege which exists at common law or otherwise when documentary or other evidence is sought under a subpoena directed to the commissioner or any of his or her officers or employees.  (d) Nothing herein shall prevent the commissioner or any officers or employees of the State Securities Department or officers or employees of the Department of Commerce working for the State Securities Department from sharing with state or federal law enforcement authorities, other state or federal regulatory authorities, or self-regulatory organizations authorized by law any information which they may have or obtain in aid of the enforcement of this chapter or any other securities act or the criminal provisions of any laws.  (e) The commissioner, in his or her discretion, shall determine when an administrative proceeding shall be public.
AR Code § 23-42-205 (2020)
2020 Arkansas Code|Title 23 - Public Utilities and Regulated Industries|Subtitle 2 - Financial Institutions And Securities|Chapter 42 - Arkansas Securities Act|Subchapter 2 - Administration|§ 23-42-205. Investigations

 (a) The Securities Commissioner, in his or her discretion, may:  (1) Make any public or private investigations within or outside of this state which he or she deems necessary to determine whether any person has violated or is about to violate any provision of this chapter or any rule or order under this chapter, or to aid in the enforcement of this chapter or in the prescribing of rules and forms under this chapter;  (2) Require or permit any person to file a statement in writing, under oath, or otherwise as the commissioner determines, as to all the facts and circumstances concerning the matter to be investigated; and  (3) Publish information concerning any violation of this chapter or any rule or order hereunder.    (b) For the purpose of any investigation or proceeding under this chapter, the commissioner or any officer designated by him or her may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the commissioner deems relevant or material to the inquiry.  (c)  (1) In case of contumacy by or refusal to obey a subpoena issued to any person, the Pulaski County Circuit Court, upon application by the commissioner, may order the person to appear before the commissioner or the officer designated by the commissioner to produce evidence or testify concerning the matter under investigation or in question.  (2) Failure to obey the order may be punished as contempt of court.    (d)  (1) No person is excused from attending and testifying, or from producing any document or record, before the commissioner, or in obedience to the subpoena of the commissioner or any officer designated by him or her, or in any proceeding instituted by the commissioner, on the ground that the testimony or evidence, documentary or otherwise, required of him or her may tend to incriminate him or her or subject him or her to a penalty or forfeiture. However, no individual may be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he or she is compelled, after claiming his or her privilege against self-incrimination, to testify or produce evidence, documentary or otherwise, except that the individual testifying is not exempt from prosecution and punishment for perjury or contempt committed in testifying.  (2) However, no provision of this chapter shall be construed to require, or to authorize the commissioner to require, any investment adviser engaged in rendering investment advisory services to disclose the identity, investments, or affairs of any client of the investment adviser, except insofar as the disclosure may be necessary or appropriate in a particular proceeding or investigation having as its objective the enforcement of a provision of this chapter.