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23-42-105. Prosecution of criminal offenses.
Arkansas Code — all titles (historical 2020) · legal_authorities
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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-42-105
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. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-42-105
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f26cf171c6dc1894ce793f80c09a0f3259c3e06c8192aa6b5e8e8b054f4bf970
Source location: content.xml paragraph 20088
Stored source content
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.
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Arkansas Code — all titles (historical 2020) · legal_authorities
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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-42-104
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 23-42-104. This identifies an authority to review, not proof of applicability.