Arkansas § 26-57-420 Notice to purchaser of tax consequences of sale required

Arkansas Statutes

§ 26-57-420 — Notice to purchaser of tax consequences of sale required

Arkansas § 26-57-420

Title26

This text of Arkansas § 26-57-420 (Notice to purchaser of tax consequences of sale required) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 26-57-420 (2026).

Text

(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of the aforementioned applicable sections of the law or when the documents executed in connection with the sale do not cite the appropriate statutes and warn of applicable tax shall be void, and the purchaser may at his or her option cancel the sale, whereupon the licensee shall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 re

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(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of the aforementioned applicable sections of the law or when the documents executed in connection with the sale do not cite the appropriate statutes and warn of applicable tax shall be void, and the purchaser may at his or her option cancel the sale, whereupon the licensee shall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.