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26-57-420. Notice to purchaser of tax consequences of sale required.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-57-420. Notice to purchaser of tax consequences of sale required.
(a)(1) Before a sale of any coin-operated amusement device is concluded, the licensee or his or her salesperson shall notify the purchaser that the operation of the coin-operated amusement device is subject to taxation under this subchapter.
(2) All receipts, invoices, bills of sale, or other documents must contain thereon a notice citing the applicable sections of the law and warning the purchaser of the applicable tax.
(b)(1) Any sale which is made without notifying the purchaser of the existence of the aforementioned applicable sections of the law or when the documents executed in connection with the sale do not cite the appropriate statutes and warn of applicable tax shall be void, and the purchaser may at his or her option cancel the sale, whereupon the licensee shall immediately rebate the purchase price or the deposit made by the purchaser.
(2) The failure of the licensee to rebate the funds after demand by the purchaser shall entitle the purchaser to file suit against the bond of the licensee which is required by § 26-57-419(d), and the license of the licensee shall be revoked if the purchaser obtains a judgment against the bondsman.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-57-420
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:26-57-420
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 75cae4d097bd4f030bb2ce63b2b7bc0acabf56f15e67082609a7b2957e9f6d39
Source location: content.xml paragraph 27717
Stored source content
26-57-420. Notice to purchaser of tax consequences of sale required.
(a)(1) Before a sale of any coin-operated amusement device is concluded, the licensee or his or her salesperson shall notify the purchaser that the operation of the coin-operated amusement device is subject to taxation under this subchapter.
(2) All receipts, invoices, bills of sale, or other documents must contain thereon a notice citing the applicable sections of the law and warning the purchaser of the applicable tax.
(b)(1) Any sale which is made without notifying the purchaser of the existence of the aforementioned applicable sections of the law or when the documents executed in connection with the sale do not cite the appropriate statutes and warn of applicable tax shall be void, and the purchaser may at his or her option cancel the sale, whereupon the licensee shall immediately rebate the purchase price or the deposit made by the purchaser.
(2) The failure of the licensee to rebate the funds after demand by the purchaser shall entitle the purchaser to file suit against the bond of the licensee which is required by § 26-57-419(d), and the license of the licensee shall be revoked if the purchaser obtains a judgment against the bondsman.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-57-419. Licenses to sell.
(a) Licenses to sell coin-operated amusement devices shall be issued by the Secretary of the Department of Finance and Administration.
(b) Applications for the licenses shall be on a form prescribed by the secretary.
(c)(1) No license shall be issued to any corporation which is owned in whole or in part by any convicted felon or person who formerly held a license which was revoked until two (2) years subsequent to the revocation.
(2) The same restriction shall hold true on members of partnerships or individuals applying for licenses.
(3) Salespersons employed by licensees shall in like manner be subject to the restrictions.
(d) Any person, firm, partnership, limited liability company, or corporation who applies for a license to sell coin-operated amusement devices as provided in this section prior to the issuance of the license shall be required to procure a suitable surety bond in the principal sum of one thousand dollars ($1,000) to ensure compliance with the provisions of this subchapter and to provide indemnity to any person who deals with the applicant in the event of the violation of this subchapter.
(e) The annual fee for each corporation, partnership, or individual which acquires a license to sell coin-operated amusement devices shall be twenty-five dollars ($25.00), and additional annual licenses for salespersons employed by the licensees may be acquired for five dollars ($5.00).
(f)(1) The secretary may revoke or suspend the licenses for cause.
(2) Any licensee shall be notified in writing that the revocation or suspension of its license is being considered and the reason therefor.
(3) The licensee shall have fifteen (15) days in which to notify the secretary that a hearing is desired, after which time a hearing
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-57-419
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 26-57-419. This identifies an authority to review, not proof of applicability.