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23-42-211. Disposition of fees.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-42-211. Disposition of fees.
(a)(1) There is created on the books of the Chief Fiscal Officer of the State, the Auditor of State, and the Treasurer of State a fund to be known as the “Securities Department Fund”.
(2) The Securities Department Fund shall be used for the maintenance, operation, support, and improvement of the State Securities Department in carrying out its functions, powers, and duties as set out by law and by rule not inconsistent with law.
(3) The Securities Department Fund shall consist of those portions of fees designated for deposit into the Securities Department Fund under § 23-42-304(a)(2), (a)(4), and (a)(5), § 23-42-404(b)(1), and § 23-42-509(a).
(4) Notwithstanding subdivision (a)(3) of this section, at the end of each fiscal year, the Securities Commissioner shall transfer into the General Revenue Fund Account of the State Apportionment Fund any moneys in the Securities Department Fund that exceed the amount of the department's next fiscal-year budget.
(b) The department is authorized to promulgate such rules necessary to administer the fees, rates, tolls, or charges for services established by this section and is directed to prescribe and collect such fees, rates, tolls, or charges for the services by the department in such manner as may be necessary to support the programs of the department as directed by the Governor and the General Assembly.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-42-211
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:23-42-211
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cb14485d825774b569860ca79efb3e8451a809a5d918d9a864d40e53ae59fa5a
Source location: content.xml paragraph 20534
Stored source content
23-42-211. Disposition of fees.
(a)(1) There is created on the books of the Chief Fiscal Officer of the State, the Auditor of State, and the Treasurer of State a fund to be known as the “Securities Department Fund”.
(2) The Securities Department Fund shall be used for the maintenance, operation, support, and improvement of the State Securities Department in carrying out its functions, powers, and duties as set out by law and by rule not inconsistent with law.
(3) The Securities Department Fund shall consist of those portions of fees designated for deposit into the Securities Department Fund under § 23-42-304(a)(2), (a)(4), and (a)(5), § 23-42-404(b)(1), and § 23-42-509(a).
(4) Notwithstanding subdivision (a)(3) of this section, at the end of each fiscal year, the Securities Commissioner shall transfer into the General Revenue Fund Account of the State Apportionment Fund any moneys in the Securities Department Fund that exceed the amount of the department's next fiscal-year budget.
(b) The department is authorized to promulgate such rules necessary to administer the fees, rates, tolls, or charges for services established by this section and is directed to prescribe and collect such fees, rates, tolls, or charges for the services by the department in such manner as may be necessary to support the programs of the department as directed by the Governor and the General Assembly.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-42-304. Filing fees — Rules.
(a) Every applicant for initial or renewal registration and every person making a notice filing as required by § 23-42-301(c) shall pay a filing fee of:
(1) Three hundred dollars ($300) in the case of a broker-dealer;
(2) Seventy-five dollars ($75.00) in the case of an agent, of which twenty-five dollars ($25.00) shall be designated as special revenues and shall be deposited into the Securities Department Fund;
(3) Three hundred dollars ($300) in the case of an investment adviser;
(4) Seventy-five dollars ($75.00) in the case of a representative, of which twenty-five dollars ($25.00) shall be designated as special revenues and shall be deposited into the Securities Department Fund;
(5) Fifty dollars ($50.00) in the case of a branch office, of which the entire amount shall be designated as special revenues and deposited into the Securities Department Fund; and
(6) Three hundred dollars ($300) in the case of an exempt reporting adviser or investment adviser to a private fund that complies with exemption requirements.
(b) After an application for registration has been processed, in whole or in part, any filing fee shall be nonrefundable.
(c) The State Securities Department is hereby authorized to promulgate such rules necessary to administer the fees, rates, tolls, or charges for services established by this section and § 23-42-404 and is directed to prescribe and collect such fees, rates, tolls, or charges for the services by the department in such manner as may be necessary to support the programs of the department as directed by the Governor and the General Assembly.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-42-304
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 23-42-304. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-42-404. Registration statements generally.
(a) A registration statement may be filed by the issuer, any other person on whose behalf the offering is to be made, or a registered broker-dealer.
(b)(1) Every person filing a registration statement shall pay a filing fee of one-tenth percent (0.1%) of the maximum aggregate offering price at which the registered securities are to be offered in this state, but the fee shall in no case be less than one hundred fifty dollars ($150) nor more than two thousand dollars ($2,000). Any portion of the fee in excess of one thousand dollars ($1,000) shall be designated as special revenues and shall be deposited into the Securities Department Fund. When a registration statement is withdrawn before the effective date or a preeffective stop order is entered under § 23-42-405, the Securities Commissioner shall retain one hundred fifty dollars ($150) of the filing fee.
(2) Sales of securities in excess of the amount of securities to have been offered in this state shall require the person filing the registration statement to pay a filing fee, calculated in the manner specified in subdivision (b)(1) of this section, for all securities sold. In addition, if the sales are in excess of one hundred five percent (105%) of the amount to have been offered, the person filing the registration statement shall pay a penalty fee of two hundred dollars ($200).
(c) Every registration statement shall specify:
(1) The amount of securities to be offered in this state;
(2) The states in which a registration statement or similar document in connection with the offering has been or is to be filed; and
(3) Any adverse order, judgment, or decree entered in connection with the offering by the regulatory authorities in each state or by any court or t
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-42-404
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 23-42-404. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-42-509. Covered securities.
(a) The Securities Commissioner, by rule or order, may require a notice filing consisting of any or all of the following documents with respect to a covered security under section 18(b)(2) of the Securities Act of 1933, 15 U.S.C. § 77r(b)(2):
(1)(A) Prior to the initial offering of such a covered security in this state, all documents that are part of a current federal registration statement filed with the United States Securities and Exchange Commission under the Securities Act of 1933, together with a consent to service of process signed by the issuer and with a fee in the amount of one-tenth percent (0.1%) of the maximum aggregate offering price at which the covered securities are to be offered in this state, but the fee shall in no case be less than one hundred fifty dollars ($150) nor more than two thousand dollars ($2,000). Any portion of the fee in excess of one thousand dollars ($1,000) shall be designated as special revenues and shall be deposited into the Securities Department Fund. When a notice filing is withdrawn before the effective date, the commissioner shall retain one hundred fifty dollars ($150) of the filing fee.
(B) Sales of the covered securities in excess of the amount of covered securities to have been offered in this state shall require the person making the notice filing to pay a fee, calculated in the manner specified in subdivision (a)(1)(A) of this section, for all securities sold. In addition, if the sales are in excess of one hundred five percent (105%) of the amount to have been offered, the person making the notice filing shall pay a penalty fee of two hundred dollars ($200).
(C) The initial notice filing of an investment company, as defined in the Investment Company Act of 1940, shall be effective f
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-42-509
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 23-42-509. This identifies an authority to review, not proof of applicability.