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18-14-203. Abbreviated registration — Exemptions.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-14-203. Abbreviated registration — Exemptions.
(a) An abbreviated registration with the Arkansas Real Estate Commission may be accepted if the developer is registered and has issued a public offering statement or similar disclosure document that is provided to purchasers under any of the following:
(1) Securities Act of 1933, 15 U.S.C. § 77a et seq.;
(2) Arkansas Securities Act, § 23-42-101 et seq.;
(3) Federal Interstate Land Sales Full Disclosure Act, 15 U.S.C. § 1701 et seq., if the time-share plan is made a part of the subdivision that is being registered; and
(4) Any federal or state act that requires a federal or state agency to review a public offering statement or similar disclosure document that must be distributed to purchasers if the commission determines that the federal or state public offering statement is substantially equivalent to that required by this chapter.
(b) Annually or when a public offering statement is amended, the public offering statement shall be submitted to the commission for recertification.
(c) An applicant filing an abbreviated registration shall pay:
(1) A filing fee not to exceed five hundred dollars ($500);
(2) Any necessary investigation expenses as stated in § 18-14-204(d); and
(3) A fee not to exceed three hundred dollars ($300) for each request for recertification under subsection (b) of this section.
(d) A registration with the commission is not required in the case of:
(1) A transfer of a time-share interest by any time-share interest owner other than the developer or its agent unless the transfer is made to evade this chapter;
(2) Any disposition under a court order;
(3) A disposition by a government or governmental agency;
(4) A disposition by foreclosure or deed in lieu of foreclosure;
(5)
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-14-203
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:18-14-203
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: fdbb4861b604a5aacf9dd797fc402be6ae08e51aff9f76a0f7715429c88b3f13
Source location: content.xml paragraph 2634
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18-14-203. Abbreviated registration — Exemptions.
(a) An abbreviated registration with the Arkansas Real Estate Commission may be accepted if the developer is registered and has issued a public offering statement or similar disclosure document that is provided to purchasers under any of the following:
(1) Securities Act of 1933, 15 U.S.C. § 77a et seq.;
(2) Arkansas Securities Act, § 23-42-101 et seq.;
(3) Federal Interstate Land Sales Full Disclosure Act, 15 U.S.C. § 1701 et seq., if the time-share plan is made a part of the subdivision that is being registered; and
(4) Any federal or state act that requires a federal or state agency to review a public offering statement or similar disclosure document that must be distributed to purchasers if the commission determines that the federal or state public offering statement is substantially equivalent to that required by this chapter.
(b) Annually or when a public offering statement is amended, the public offering statement shall be submitted to the commission for recertification.
(c) An applicant filing an abbreviated registration shall pay:
(1) A filing fee not to exceed five hundred dollars ($500);
(2) Any necessary investigation expenses as stated in § 18-14-204(d); and
(3) A fee not to exceed three hundred dollars ($300) for each request for recertification under subsection (b) of this section.
(d) A registration with the commission is not required in the case of:
(1) A transfer of a time-share interest by any time-share interest owner other than the developer or its agent unless the transfer is made to evade this chapter;
(2) Any disposition under a court order;
(3) A disposition by a government or governmental agency;
(4) A disposition by foreclosure or deed in lieu of foreclosure;
(5) A developer's offer of additional time-share interests in a time-share plan located outside this state to owners that have previously purchased from the developer or a developer under common ownership or control with the developer, if the developer has had a registration or amendment approved by the commission within the preceding seven (7) years;
(6) A gratuitous transfer of a time-share interest;
(7) A time-share property that consists of a single accommodation and related amenities for which the developer or a person under the control of, a subsidiary of, or affiliate of the developer operates as the acquisition agent, broker, or exchange agent; or
(8) A disposition of a time-share interest owned by an owners' association of which the time-share interest is a part.
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Federal law — U.S. Code and appendices · legal_authorities
For the purposes of this chapter, the term—
(1) “Director” means the Director of the Bureau of Consumer Financial Protection;
(2) “person” means an individual, or an unincorporated organization, partnership, association, corporation, trust, or estate;
(3) “subdivision” means any land which is located in any State or in a foreign country and is divided or is proposed to be divided into lots, whether contiguous or not, for the purpose of sale or lease as part of a common promotional plan;
(4) “common promotional plan” means a plan, undertaken by a single developer or a group of developers acting in concert, to offer lots for sale or lease; where such land is offered for sale by such a developer or group of developers acting in concert, and such land is contiguous or is known, designated, or advertised as a common unit or by a common name, such land shall be presumed, without regard to the number of lots covered by each individual offering, as being offered for sale or lease as part of a common promotional plan;
(5) “developer” means any person who, directly or indirectly, sells or leases, or offers to sell or lease, or advertises for sale or lease any lots in a subdivision;
(6) “agent” means any person who represents, or acts for or on behalf of, a developer in selling or leasing, or offering to sell or lease, any lot or lots in a subdivision; but shall not include an attorney at law whose representation of another person consists solely of rendering legal services;
(7) “blanket encumbrance” means a trust deed, mortgage, judgment, or any other lien or encumbrance, including an option or contract to sell or a trust agreement, affecting a subdivision or affecting more than one lot offered within a subdivision except that such term shall not include any lien or other
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1701
Stored review status: release_metadata_unconfirmed. The source passage cites 15 U.S.C. § 1701. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1667
TITLE 15—COMMERCE AND TRADE
§ 1701
Pub. L. 111–203, set out as an Effective Date note under
section 5301 of Title 12, Banks and Banking, which pro-
vided that the renumbering by Pub. L. 111–24 was effec-
tive 15 months after May 22, 2009, and the renumbering
by Pub. L. 111–203 was effective 1 day after July 21, 2010.
PRIOR PROVISIONS
A prior section 922 of Pub. L. 90–321 was renumbered
section 923 and is classified as an Effective Date note
under section 1693 of this title.
AMENDMENTS
2010—Pub. L. 111–203, § 1084(1), substituted ‘‘Bureau’’
for ‘‘Board’’ in two places.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2010 AMENDMENT
Amendment by section 1084(1) of Pub. L. 111–203 effec-
tive on the designated transfer date, see section 1100H
of Pub. L. 111–203, set out as a note under section 552a
of Title 5, Government Organization and Employees.
CHAPTER 42—INTERSTATE LAND SALES
Sec.
1701.
Definitions.
1702.
Exemptions.
1703.
Requirements respecting sale or lease of lots.
1704.
Registration of subdivisions.
1705.
Information required in statement of record.
1706.
Effective date of statements of record and
amendments thereto.
1707.
Property report.
1708.
Certification
of
substantially
equivalent
State law.
1709.
Civil liabilities.
1710.
Court review of orders.
1711.
Limitation of actions.
1712.
Contrary stipulations void.
1713.
Additional remedies.
1714.
Investigations, injunctions, and prosecution
of offenses.
1715.
Administration.
1716.
Unlawful representations.
1717.
Penalties for violations.
1717a.
Civil money penalties.
1718.
Rules, regulations, and orders.
1719.
Jurisdiction of offenses and suits.
1719a.
Repealed.
1720.
Authorization of appropriations.
§ 1701. Definitions
For the p
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 1701
Stored review status: historical_2024_not_currentness_verified. The source passage cites 15 U.S.C. § 1701. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
This subchapter may be cited as the “Securities Act of 1933”.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 77a
Stored review status: release_metadata_unconfirmed. The source passage cites 15 U.S.C. § 77a. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 119
TITLE 15—COMMERCE AND TRADE
§ 77b
7025, set out as a note under section 301 of Title 3, The
President.
CHAPTER 2A—SECURITIES AND TRUST
INDENTURES
SUBCHAPTER I—DOMESTIC SECURITIES
Sec.
77a.
Short title.
77b.
Definitions; promotion of efficiency, competi-
tion, and capital formation.
77b–1.
Swap agreements.
77c.
Classes of securities under this subchapter.
77d.
Exempted transactions.
77d–1.
Requirements with respect to certain small
transactions.
77e.
Prohibitions relating to interstate commerce
and the mails.
77f.
Registration of securities.
77g.
Information required in registration state-
ment.
77h.
Taking effect of registration statements and
amendments thereto.
77h–1.
Cease-and-desist proceedings.
77i.
Court review of orders.
77j.
Information required in prospectus.
77k.
Civil liabilities on account of false registra-
tion statement.
77l.
Civil liabilities arising in connection with
prospectuses and communications.
77m.
Limitation of actions.
77n.
Contrary stipulations void.
77o.
Liability of controlling persons.
77p.
Additional remedies; limitation on remedies.
77q.
Fraudulent interstate transactions.
77r.
Exemption from State regulation of securi-
ties offerings.
77r–1.
Preemption of State law.
77s.
Special powers of Commission.
77t.
Injunctions and prosecution of offenses.
77u.
Hearings by Commission.
77v.
Jurisdiction of offenses and suits.
77w.
Unlawful representations.
77x.
Penalties.
77y.
Jurisdiction of other Government agencies
over securities.
77z.
Separability.
77z–1.
Private securities litigation.
77z–2.
Application of safe harbor for forward-look-
ing statements.
77z–2a.
Conflicts of interest relating to certain
securitizations.
77z–3.
General exemptive authority.
77z
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 77a
Stored review status: historical_2024_not_currentness_verified. The source passage cites 15 U.S.C. § 77a. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-14-204. Application for registration.
(a) An application for registration of a time-share plan shall contain:
(1) The public offering statement;
(2) A brief description of the time-share property;
(3) Copies of time-share instruments;
(4) Financial statements prepared according to generally accepted accounting principles and fully and fairly disclosing the current financial condition of the developer;
(5) Any other documents referred to in the registration application; and
(6) Other information as required by the Arkansas Real Estate Commission.
(b)(1) If the accommodation in the time-share plan is in a condominium development or other common-interest subdivision, the application for registration shall contain evidence that the use of the accommodation for time-share purposes is not prohibited by the project instruments.
(2) If the project instruments do not expressly authorize time-sharing, the application for registration shall contain evidence that purchasers in the condominium development or other common-interest subdivision were given written notice at least sixty (60) days before the application for registration was submitted that the accommodation would be used for time-share purposes.
(3) If the project instruments contain a prohibition against time-sharing, the board of directors of the association shall certify that the amendment procedures in the project instruments were followed and that the project instruments have been amended to permit time-sharing.
(c) The application shall be accompanied by a filing fee not to exceed one thousand dollars ($1,000).
(d)(1) The commission shall thoroughly investigate matters relating to the application and may require a personal inspection of the time-share property by a person designated by it.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-14-204
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 18-14-204. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-42-101. Title.
This chapter may be cited as the “Arkansas Securities Act”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-42-101
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 23-42-101. This identifies an authority to review, not proof of applicability.