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26-55-214. Distributor's license — Application and bond.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-55-214. Distributor's license — Application and bond.
(a) To procure a distributor's license, every distributor shall file with the Secretary of the Department of Finance and Administration an application upon oath and in a form prescribed by the secretary, setting forth:
(1) The name under which the distributor will transact business within the State of Arkansas;
(2) The location, with street address, of its principal office or place of business within this state and all of its separate places of business within this state; and
(3) The name and complete residence address of the owner or the names and addresses of the partners, if the distributor is a partnership, or the names and addresses of the principal officer, if the distributor is a corporation or association.
(b)(1) Concurrent with the filing of an application for a distributor's license, every distributor shall file with the secretary a bond of the character stipulated and in the amount provided for in § 26-55-222.
(2) No license shall be issued upon any application unless accompanied by the bond, nor, if the applicant is a foreign corporation, unless it is at the time properly qualified under the laws of the State of Arkansas to do business therein.
(c) The secretary shall keep and file all applications and bonds with an alphabetical index together with a record of all licensed distributors.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-55-214
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:26-55-214
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 1ed86461cad73c946f2662fcf3d776820c66c23f817de0af1728c299ba0ba555
Source location: content.xml paragraph 23292
Stored source content
26-55-214. Distributor's license — Application and bond.
(a) To procure a distributor's license, every distributor shall file with the Secretary of the Department of Finance and Administration an application upon oath and in a form prescribed by the secretary, setting forth:
(1) The name under which the distributor will transact business within the State of Arkansas;
(2) The location, with street address, of its principal office or place of business within this state and all of its separate places of business within this state; and
(3) The name and complete residence address of the owner or the names and addresses of the partners, if the distributor is a partnership, or the names and addresses of the principal officer, if the distributor is a corporation or association.
(b)(1) Concurrent with the filing of an application for a distributor's license, every distributor shall file with the secretary a bond of the character stipulated and in the amount provided for in § 26-55-222.
(2) No license shall be issued upon any application unless accompanied by the bond, nor, if the applicant is a foreign corporation, unless it is at the time properly qualified under the laws of the State of Arkansas to do business therein.
(c) The secretary shall keep and file all applications and bonds with an alphabetical index together with a record of all licensed distributors.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-55-222. Bonds — Requirement — Amounts — Waiver.
(a)(1) Every distributor shall file with the Secretary of the Department of Finance and Administration a surety bond of not less than one and one-half (1½) times or one hundred fifty percent (150%) of the prior six (6) months' average motor fuel tax due, based upon the gallonage of motor fuel to be sold or distributed as shown by the application for a permit if the applicant has not heretofore been engaged in the business of a distributor as herein defined, or as shown by sales for the previous year if the applicant theretofore has been engaged in the business in this state.
(2) However, no bond shall be filed for less than one thousand dollars ($1,000).
(3) If the secretary deems it necessary to protect the state in the collection of gasoline taxes, the secretary may require any distributor to post a bond in an amount up to three (3) times or three hundred percent (300%) of the prior six (6) months' average motor fuel tax due.
(b)(1) Provided further, the secretary or the secretary's authorized agent is authorized to waive the posting of bond by any licensed motor fuel distributor that is organized and operating under the laws of Arkansas and that is wholly owned by residents of this state and who has been licensed for a period of at least three (3) years and who has not been delinquent in remitting motor fuel taxes during the three-year period immediately preceding application by the distributor for waiver of bond.
(2) If any motor fuel distributor whose bond has been waived by the secretary or the secretary's agent as authorized in this subsection subsequently becomes delinquent in remitting motor fuel taxes to the secretary, the secretary or the secretary's agent may require that the distributor post a bon
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-55-222
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 26-55-222. This identifies an authority to review, not proof of applicability.