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17-14-407. Registrant responsibilities and duties.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-14-407. Registrant responsibilities and duties.
(a) A registrant that is an organization shall:
(1) Maintain a registered agent for service of process under the Model Registered Agents Act, § 4-20-101 et seq.; and
(2) Provide to the Arkansas Appraiser Licensing and Certification Board the information required by § 4-20-105(a) concerning the organization's agent for service of process and within five (5) business days any changes to the information.
(b)(1) A registrant shall maintain or cause to be maintained complete records of requests for appraisal services referred to an appraiser licensed or certified by the board, including without limitation records pertaining to the acceptance of fees from borrowers or clients and payments to appraisers.
(2) The board may inspect the records without prior notice periodically or if the board determines that the records are pertinent to an investigation of a complaint against a registrant.
(c)(1) A registrant shall designate a controlling person or managing principal responsible for ensuring compliance with this subchapter.
(2) The registrant shall file a form with the board certifying:
(A) The identity of the controlling person or the managing principal; and
(B) The individual's acceptance of the responsibilities of a controlling person or a managing principal.
(3) The registrant shall notify the board within thirty (30) days of a change in its controlling person or managing principal.
(4) An individual registrant who operates as a sole proprietorship is considered the managing principal under this subchapter.
(d)(1) A registrant shall make and keep the accounts, correspondence, memoranda, papers, books, and other records in accordance with rules promulgated by the board.
(2) All records shall be retai
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-14-407
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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Stable record: arkansas_code:legal_authorities:17-14-407
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e01ff6fcfc641772499b9f8b54ac689088a4e5f9b17dcd396f719f0535c52f28
Source location: content.xml paragraph 2455
Stored source content
17-14-407. Registrant responsibilities and duties.
(a) A registrant that is an organization shall:
(1) Maintain a registered agent for service of process under the Model Registered Agents Act, § 4-20-101 et seq.; and
(2) Provide to the Arkansas Appraiser Licensing and Certification Board the information required by § 4-20-105(a) concerning the organization's agent for service of process and within five (5) business days any changes to the information.
(b)(1) A registrant shall maintain or cause to be maintained complete records of requests for appraisal services referred to an appraiser licensed or certified by the board, including without limitation records pertaining to the acceptance of fees from borrowers or clients and payments to appraisers.
(2) The board may inspect the records without prior notice periodically or if the board determines that the records are pertinent to an investigation of a complaint against a registrant.
(c)(1) A registrant shall designate a controlling person or managing principal responsible for ensuring compliance with this subchapter.
(2) The registrant shall file a form with the board certifying:
(A) The identity of the controlling person or the managing principal; and
(B) The individual's acceptance of the responsibilities of a controlling person or a managing principal.
(3) The registrant shall notify the board within thirty (30) days of a change in its controlling person or managing principal.
(4) An individual registrant who operates as a sole proprietorship is considered the managing principal under this subchapter.
(d)(1) A registrant shall make and keep the accounts, correspondence, memoranda, papers, books, and other records in accordance with rules promulgated by the board.
(2) All records shall be retained for five (5) years unless the board by rule prescribes a different retention period for particular types of records.
(e) If the information contained in a document filed with the board is or becomes inaccurate or incomplete in any material respect, the registrant shall promptly file an amendment correcting the information contained in the document.
(f) The registrant shall disclose to its client the actual fees paid to an appraiser for appraisal services separately from any other fees or charges for appraisal management services.
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Arkansas Code — all titles (historical 2020) · legal_authorities
4-20-101. Short title.
This chapter may be cited as the Model Registered Agents Act.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-20-101
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 4-20-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-20-105. Appointment of registered agent.
(a) A registered agent filing must state:
(1) the name of the represented entity's commercial registered agent; or
(2) if the entity does not have a commercial registered agent, the name and address of the entity's noncommercial registered agent:
(A) the name and address of the entity's registered agent; or
(B) the title of an office or other position with the entity if service of process is to be sent to the person holding that office or position, and the address of the business office of that person.
(b) The appointment of a registered agent pursuant to subsection (a)(1) or (2) is an affirmation by the represented entity that the agent has consented to serve as such.
(c) The Secretary of State shall make available in a record as soon as practicable a daily list of filings that contain the name of a registered agent. The list must:
(1) be kept available for at least 14 calendar days;
(2) list in alphabetical order the names of the registered agents; and
(3) state the type of filing and name of the represented entity making the filing.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-20-105
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 4-20-105. This identifies an authority to review, not proof of applicability.