Arkansas § 15-4-1220 - Exemption for securities.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-4-1220 — Exemption for securities., with citation guidance and answers to common questions.
§ 15-4-1220. Exemption for securities.
The stock, units of interest, notes, debentures, bonds, and all other securities or obligations issued by any company organized and existing under the provisions of this subchapter shall be exempt from the provisions of the Arkansas Securities Act, § 23-42-101 et seq. However, any company organized and existing under the provisions of this subchapter shall not be exempt from the following: The antifraud provisions of the Arkansas Securities Act, § 23-42-101 et seq., under § 23-42-507; The criminal provisions for violation of the provisions found in § 23-42-104(a); and The civil remedies available for violation of the provisions found in § 23-42-106. Notwithstanding the provisions of subsection (a) of this section, no company may offer its stock, units of interest, notes, debentures, bonds, or other securities or obligations without filing a notice with the Securities Commissioner before the first offer of the securities to be sold. The filing shall state the terms of the offer and how the company intends to comply with the antifraud provisions of the Arkansas Securities Act, § 23-42-101 et seq., and shall be accompanied by copies of any sales materials the company will use in the offer of the securities. The filing shall be effective upon deposit with the commissioner. This filing requirement shall be applicable to the initial capitalization of the company and any subsequent offer of stock, units of interest, notes, debentures, bonds, or other securities or obligations or series thereof. Failure of a company to make the filing required by subsection (b) of this section shall be a basis for imposition of all remedies available to the commissioner for the offer and sale of unregistered and nonexempt securities under the Arkansas Securities Act, § 23-42-101 et seq.
Frequently Asked Questions About Arkansas § 15-4-1220
What does Arkansas Code of 1987 Annotated § 15-4-1220 cover?
Section 15-4-1220 ("Exemption for securities.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 15-4-1220?
A common citation format is "Arkansas Code of 1987 Annotated § 15-4-1220" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 15-4-1220 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.