§ 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 […]
§ 23-55-1007. 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; […]
§ 23-55-601. Authority to conduct examinations and investigations
(a) The Securities Commissioner or the commissioner’s designee may conduct an annual examination of a licensee or of any of its authorized delegates upon 45 days’ notice in a record to the licensee. (b) The commissioner may examine a licensee or its authorized delegate, at any time, without notice, if the commissioner has reason to […]
§ 23-55-807. Unlicensed persons
(a) (1) [Repealed.] (2) If as a result of an investigation or examination the Securities Commissioner finds that a person has engaged or is about to engage in an act or practice constituting a violation of this chapter or a rule or order under this chapter, the commissioner may summarily issue: (A) A cease and […]
§ 23-55-602. Cooperation
The Securities Commissioner may consult and cooperate with other state money services regulators and agencies of the United States Government in enforcing and administering this chapter. They may jointly pursue examinations and take other official action that they are otherwise empowered to take.