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17-42-405. Additional fee.
Arkansas Code — all titles (historical 2020) · legal_authorities
17-42-405. Additional fee.
(a) In addition to the other fees provided for in this chapter and rules of the Arkansas Real Estate Commission, each licensed real estate broker and salesperson shall pay to the commission for the benefit of the Real Estate Recovery Fund a fee as the commission may require, not to exceed the lesser of:
(1) Twenty-five dollars ($25.00) per annual renewal; or
(2) An amount sufficient to restore the fund balance to two hundred fifty thousand dollars ($250,000).
(b) Likewise, each person who becomes a licensee for the first time shall at that time pay to the commission for the benefit of the fund such fee as the commission may require, not to exceed twenty-five dollars ($25.00).
(c) No fees collected under the provisions of this subchapter may be expended from the fund except for the purposes set forth in this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 17-42-405
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:17-42-405
Source file: gov.ar.code.title.17.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 73b68ffd896b2376b07ad745c74d667bff1d47302e63f94793dfb71628793132
Source location: content.xml paragraph 15649
Stored source content
17-42-405. Additional fee.
(a) In addition to the other fees provided for in this chapter and rules of the Arkansas Real Estate Commission, each licensed real estate broker and salesperson shall pay to the commission for the benefit of the Real Estate Recovery Fund a fee as the commission may require, not to exceed the lesser of:
(1) Twenty-five dollars ($25.00) per annual renewal; or
(2) An amount sufficient to restore the fund balance to two hundred fifty thousand dollars ($250,000).
(b) Likewise, each person who becomes a licensee for the first time shall at that time pay to the commission for the benefit of the fund such fee as the commission may require, not to exceed twenty-five dollars ($25.00).
(c) No fees collected under the provisions of this subchapter may be expended from the fund except for the purposes set forth in this subchapter.
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