§ 23-44-102 — Penalties

Arkansas § 23-44-102

• Jurisdiction: Arkansas
• Title: 23

Text

(a) (1) Any person, acting either as agent or principal, who knowingly enters into or assists in making any contracts of sale of the sort or character denounced by § 23-44-105 , for the future delivery of cotton, grain, stocks, or other commodities or who maintains or operates a bucket shop as that term is defined in § 23-44-101 shall be guilty of a felony and upon conviction shall be fined in a sum not to exceed one thousand dollars ($1,000) or be imprisoned in the penitentiary not exceeding two (2) years. (2) Any person who shall be guilty of a second offense under this section, in addition to the penalties above prescribed, and upon conviction, may be both fined and imprisoned in the discretion of the court. (b) (1) If a corporation commits the acts prohibited by subsection (a) of this section, it shall be liable to forfeiture of all its rights and privileges as a corporation, and the continuance of the establishment after the first conviction shall be deemed a second offense. (2) It shall be the duty of the Attorney General to institute proceedings for the forfeiture of the charter of any corporation making itself liable to forfeiture under the provisions of this chapter.

Legislative History

Acts 1929, No. 208, § 7; Pope's Dig., § 3348; A.S.A. 1947, § 68-1007.