Browse Arkansas Code titles and sections
23-44-102. Penalties.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-44-102. Penalties.
(a)(1) Any person, acting either as agent or principal, who knowingly enters into or assists in making any contracts of sale of the sort or character denounced by § 23-44-105, for the future delivery of cotton, grain, stocks, or other commodities or who maintains or operates a bucket shop as that term is defined in § 23-44-101 shall be guilty of a felony and upon conviction shall be fined in a sum not to exceed one thousand dollars ($1,000) or be imprisoned in the penitentiary not exceeding two (2) years.
(2) Any person who shall be guilty of a second offense under this section, in addition to the penalties above prescribed, and upon conviction, may be both fined and imprisoned in the discretion of the court.
(b)(1) If a corporation commits the acts prohibited by subsection (a) of this section, it shall be liable to forfeiture of all its rights and privileges as a corporation, and the continuance of the establishment after the first conviction shall be deemed a second offense.
(2) It shall be the duty of the Attorney General to institute proceedings for the forfeiture of the charter of any corporation making itself liable to forfeiture under the provisions of this chapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-44-102
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:23-44-102
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a213a0dc941f98f2ae588f4bc4c6e743e6e9f5fc87b5441cdc724c196d3c0554
Source location: content.xml paragraph 21530
Stored source content
23-44-102. Penalties.
(a)(1) Any person, acting either as agent or principal, who knowingly enters into or assists in making any contracts of sale of the sort or character denounced by § 23-44-105, for the future delivery of cotton, grain, stocks, or other commodities or who maintains or operates a bucket shop as that term is defined in § 23-44-101 shall be guilty of a felony and upon conviction shall be fined in a sum not to exceed one thousand dollars ($1,000) or be imprisoned in the penitentiary not exceeding two (2) years.
(2) Any person who shall be guilty of a second offense under this section, in addition to the penalties above prescribed, and upon conviction, may be both fined and imprisoned in the discretion of the court.
(b)(1) If a corporation commits the acts prohibited by subsection (a) of this section, it shall be liable to forfeiture of all its rights and privileges as a corporation, and the continuance of the establishment after the first conviction shall be deemed a second offense.
(2) It shall be the duty of the Attorney General to institute proceedings for the forfeiture of the charter of any corporation making itself liable to forfeiture under the provisions of this chapter.
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-44-101. Definitions.
As used in this chapter, unless the context otherwise requires:
(1) “Bucket shop” means any place of business wherein contracts are made of the sort or character denounced by § 23-44-105;
(2) “Contract for sale” means sales, purchases, agreements of sale, agreements to sell, and agreements to purchase; and
(3) “Person” means individuals, associations, partnerships, and corporations.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-44-101
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 23-44-101. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-44-105. Bucket shop contracts void.
Any contract of sale for the future delivery of cotton, grain, stocks, or other commodities which is to be settled according to, or upon the basis of, the public market quotation or prices made on any board of trade, exchange, or similar institution, upon which contracts of sale for future delivery are executed and dealt in without any actual bona fide execution and the carrying out or discharge of the contracts upon the floor of the exchange, board of trade, or similar institution, in accordance with the rules thereof, shall be null and void and unenforceable in any court of this state, and no action shall lie thereon at the suit of any party thereto.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-44-105
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 23-44-105. This identifies an authority to review, not proof of applicability.