§ 4-99-110 — Soliciting prospective purchasers on behalf of unregistered telephonic seller prohibited - Violation

Arkansas § 4-99-110

• Jurisdiction: Arkansas
• Title: 4

Text

(a) (1) A salesperson shall not solicit prospective purchasers on behalf of a telephonic seller who is not currently registered with the Secretary of State under this chapter. (2) A salesperson who violates this section shall be guilty of a Class A misdemeanor. (b) Except as provided in subdivision (a)(1) of this section, any person, including without limitation the seller, a salesperson, agent or representative of the seller, or an independent contractor, who willfully violates a provision of this chapter or who directly or indirectly employs a device, scheme, or artifice to deceive in connection with the offer or sale by a telephonic seller, or who willfully, directly or indirectly, engages in any act, practice, or course of business that operates or would operate as fraud or deceit upon a person in connection with a sale by a telephonic seller shall be, upon conviction, guilty of a Class D felony. (c) (1) A person who controls a seller liable under this section, or a salesperson liable under subdivision (a)(1) of this section, every partner, officer, or director of such a seller or salesperson, a person occupying a similar status or performing a similar function, and an employee of such a seller or salesperson who materially aids in the sale or attempted sale are also liable jointly and severally with and to the same extent as the seller or salesperson, unless the nonseller or nonsalesperson who is so liable sustains the burden of proof that he or she did not know and in the exercise of reasonable care could not have known of the existence of the facts by reason of which the liability is alleged to exist. (2) There is contribution as in cases of contract among the several persons so liable.

Legislative History

Amended by Act 2017, No. 728,§ 7, eff. 1/1/2018. Acts 1993, No. 137, §§ 10, 11.