§ 4-99-105 — Filing information

Arkansas § 4-99-105

• Jurisdiction: Arkansas
• Title: 4

Text

Each registration filing pursuant to this chapter shall contain the following information: (1) The name or names of the seller, including the name under which the seller is doing or intends to do business, if different from the name of the seller, and the name of any parent or affiliated organization that will engage in business transactions with purchasers relating to sales solicited by the seller, or that accepts responsibility for statements made by, or acts of, the seller relating to sales solicited by the seller; (2) The seller's business form and place of organization and, if the seller is a corporation, a copy of its articles of incorporation and bylaws and amendments thereto, or, if a partnership, a copy of the partnership agreement, or, if operating under a fictitious business name, the location where the fictitious name has been registered. All the same information shall be included for any parent or affiliated organization disclosed pursuant to subdivision (1) of this section; (3) (A) The complete street address or addresses of all locations, designating the principal location from which the telephonic seller will be conducting business. (B) If the principal business location of the seller is not in this state, then the seller shall also designate which of any locations within this state is its main location in the state; (4) A listing of all telephone numbers to be used by the seller and the address where each telephone using each of these telephone numbers is located; (5) The name of, and the office held by, the seller's officers, directors, trustees, general and limited partners, sole proprietor, and owners, as the case may be, and the names of those persons who have management responsibilities in connection with the seller's business activities; (6) The complete address of the principal residence, the date of birth, and the Social Security number of each of the persons whose names are disclosed pursuant to subdivision (5) of this section; (7) A list of the names and principal residence addresses of salespersons who solicit on behalf of the telephonic seller and the names the salespersons use while soliciting; (8) A description of the items the seller is offering for sale and a copy of all sales scripts the telephonic seller requires salespersons to use when soliciting prospective purchasers or, if no sales script is required to be used, a statement to that effect; (9) A copy of all sales information and literature, including, but not limited to, scripts, outlines, instructions, and information regarding how to conduct telephonic sales, sample introductions, sample closings, product information, and contest or premium award information provided by the telephonic seller to salespersons, or of which the seller informs salespersons, and a copy of all written materials the seller sends to any prospective or actual purchaser; (10) If the telephonic seller represents or implies, or directs salespersons to represent or imply, to purchasers that the purchaser will receive certain specific items, including a certificate of any type which the purchaser must redeem to obtain the item described in the certificate, or one (1) or more items from among designated items, whether the items are denominated as gifts, premiums, bonuses, prizes, awards, or otherwise, the filing shall include the following: (A) A list of the items offered; (B) The value or worth of each item described to prospective purchasers and the basis for the valuation; (C) The price paid by the telephonic seller to its supplier for each of these items and the name, address, and telephone number of each item's supplier; (D) If the purchaser is to receive fewer than all of the items described by the seller, the filing shall include the following: (i) The manner in which the telephonic seller decides which item or items a particular prospective purchaser is to receive; (ii) The odds a single prospective purchaser has of receiving each described item; and (iii) The name and address of each recipient who has, during the preceding twelve (12) months, or if the seller has not been in business that long, during the period the telephonic seller has been in business, received the item having the greatest value and the item with the smallest odds of being received; and (E) All state rules, federal rules or regulations, terms, and conditions a prospective purchaser must meet in order to receive the item; and (11) The name and address of the telephonic seller's agent in this state, other than the Secretary of State, authorized to receive service of process in this state.

Legislative History

Amended by Act 2019, No. 315,§ 140, eff. 7/24/2019. Amended by Act 2017, No. 728,§ 3, eff. 1/1/2018. Acts 1993, No. 137, § 6.