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17-11-321. Certificate of authority — Application — Issuance.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-11-321. Certificate of authority — Application — Issuance.
(a) Any person, firm, or corporation desiring to engage in the business of abstracting in this state shall make application to the Arkansas Abstracters' Board for a certificate of authority.
(b) The application shall:
(1) Be in a form prepared by the board;
(2) Contain such information as may be necessary to assist the board in determining whether the applicant has complied with the provisions of this chapter; and
(3) Be accompanied by an application fee in the sum of twenty-five dollars ($25.00).
(c) The applicant shall furnish proof that:
(1) The applicant has available an abstract plant for each county for which abstracts will be prepared, which abstract plant shall be made available for examination by the board;
(2) The applicant is or has employed a registered abstracter; and
(3) The bond requirements provided for in § 17-11-324 have been complied with.
(d)(1) When the foregoing things have been done or conditions exist and approved by the board, the board shall issue a certificate of authority in such form as it may prescribe, attesting to the same and indicating the county of this state wherein the applicant may operate.
(2) The certificate shall be prominently displayed in the office of the applicant.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-11-321
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:17-11-321
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 18ad37f65798e517f137322be8fb1aa5f095adee4f28797111cf7ac774c02072
Source location: content.xml paragraph 627
Stored source content
17-11-321. Certificate of authority — Application — Issuance.
(a) Any person, firm, or corporation desiring to engage in the business of abstracting in this state shall make application to the Arkansas Abstracters' Board for a certificate of authority.
(b) The application shall:
(1) Be in a form prepared by the board;
(2) Contain such information as may be necessary to assist the board in determining whether the applicant has complied with the provisions of this chapter; and
(3) Be accompanied by an application fee in the sum of twenty-five dollars ($25.00).
(c) The applicant shall furnish proof that:
(1) The applicant has available an abstract plant for each county for which abstracts will be prepared, which abstract plant shall be made available for examination by the board;
(2) The applicant is or has employed a registered abstracter; and
(3) The bond requirements provided for in § 17-11-324 have been complied with.
(d)(1) When the foregoing things have been done or conditions exist and approved by the board, the board shall issue a certificate of authority in such form as it may prescribe, attesting to the same and indicating the county of this state wherein the applicant may operate.
(2) The certificate shall be prominently displayed in the office of the applicant.
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Arkansas Code — all titles (historical 2020) · legal_authorities
17-11-324. Bond, insurance, or personal surety.
(a)(1)(A) Before the certificate of authority is issued, the applicant shall file with the Arkansas Abstracters' Board a bond approved by the board conditioned upon the payment by the applicant of any and all damages that may be sustained by or may accrue to any person, firm, or corporation for whom the applicant may compile, make, or furnish abstracts of title by reason of or on account of any error, deficiency, or mistake in any abstract or certificate, or any continuation, made or issued by the abstracter over its authorized signature and seal.
(B) The bond shall be written by a corporate surety or other company issuing such bonds licensed and authorized to do business in this state.
(2)(A) The bond shall remain in full force and effect for a period of one (1) year and may be renewed annually by a continuation certificate.
(B) However, no continuation certificate shall operate to increase the penal sum of the bond beyond the limits established in this section.
(3)(A) The penal sum of the bond shall be dependent upon the aggregate population, according to the latest federal census, of all counties in which the applicant proposes to conduct the business of abstracting, as follows:
If the population is: The penalty of the bond shall be: Less than 25,000 $ 5,000 More than 25,000 but less than 50,000 10,000 50,000 but less than 100,000 15,000 100,000 but less than 200,000 20,000 Over 200,000 25,000
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(B) No person, firm, or corporation shall be required at any time to have in force and effect and filed with the board valid bonds in excess of the penal sum of twenty-five thousand dollars ($25,000).
(b)(1) In lieu of the bond or bonds provided for in subsection (a) of this sect
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-11-324
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 17-11-324. This identifies an authority to review, not proof of applicability.