§ 23-55-1007. Multistate automated licensing system
(a) The Securities Commissioner may: (1) Enter into an arrangement, agreement, or other working relationship with federal, state, or self-regulatory authorities, the Conference of State Bank Supervisors, or a subsidiary entity owned by the Conference of State Bank Supervisors to file and maintain documents in a multistate automated licensing system or other central depository system; […]
§ 23-55-901. Administrative proceedings
All administrative proceedings under this chapter must be conducted in accordance with the Arkansas Administrative Procedure Act, § 25-15-201 et seq.
§ 23-55-902. Hearings
(a) Except as otherwise provided in §§ 23-55-803 and 23-55-807, the commissioner may not suspend or revoke a license, issue an order to cease and desist, suspend or revoke the designation of an authorized delegate, or assess a civil penalty without notice and an opportunity to be heard. (b) The commissioner shall also hold a […]
§ 23-55-1001. Uniformity of application and construction
In applying and construing this Uniform Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among States that enact it.
§ 23-55-1002. Severability clause
If any provision of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable.
§ 23-55-1003. Effective date
This chapter takes effect January 1, 2008.
§ 23-55-1006. License terms
Effective January 1, 2012: (1) a license for a money transmission issued or renewed under this chapter shall expire on December 31 of each year unless it is terminated by surrender, abandonment, a change of employment, or order of the commissioner; and (2) a license for a currency exchange issued or renewed under this chapter […]
§ 23-55-701. Maintenance of permissible investments
(a) A licensee shall maintain at all times permissible investments that have a market value computed in accordance with generally accepted accounting principles or international financial reporting standards of not less than the aggregate amount of all of its outstanding payment instruments and stored value and prepaid access obligations issued or sold in all states […]
§ 23-55-702. Types of permissible investments
(a) Except to the extent otherwise limited by the commissioner pursuant to § 23-55-701, the following investments are permissible under § 23-55-701: (1) cash, a certificate of deposit, or senior debt obligation of an insured depositary institution, as defined in section 3 of the Federal Deposit Insurance Act, 12 U.S.C. § 1813 (1994 & Supp. […]
§ 23-55-801. Suspension and revocation
(a) The commissioner may suspend or revoke a license or order a licensee to revoke the designation of an authorized delegate if: (1) the licensee violates this chapter or a rule adopted or an order issued under this chapter; (2) the licensee does not cooperate with an examination or investigation by the commissioner; (3) the […]