Legal Opinions

Year 1998


98-015
12/14/1998

Dixie Crossroads, LLC

 

Request for an interpretation of the word "person" as that term is used in Rule 504.01(A)(12)(a) of the Rules of the Arkansas Securities Commissioner.

98-014
11/23/1998

MILLENNIUM CAPITAL ADVISORS, INC.

Request for the Department's position regarding the propriety of payment by a registered investment adviser to individuals who are not registered as investment adviser representatives for the solicitation of customers.

98-013
10/6/1998

SOUTHERN BANK OF COMMERCE

Request for no action that no notice filing is required for covered securities, which are securities exempt under (3)(a)(2) of the Securities Act of 1933.

98-012
7/24/1998

WARREN SWIFT LTD.

Request for a no action regarding the organization of a limited partnership under Rule 504.01(A)(12)(a) of the Rules of the Arkansas Securities Commissioner and subsequent transfer of securities by gift is not a sale pursusant to Ark. Code Ann. § 23-42-102(13).

98-011
7/10/1998

UNIVERSITY ALUMNI FUNDS, LLC

Request for no action position regarding exemption of registation for University Alumni Funds, LLC as a broker-dealer. The request for no action postion is declined.

98-010
7/9/1998

HUGHES TRANSPORT, INC.

Request that no enforcement action be taken involving sale of a business pursuant to Rule 504.01(A)(12)(1) of the Rules of the Arkansas Securities Commissioner.

98-009
6/11/1998

GRUNTAL & CO., LLC

Request for no action position not to require registration of the retired agents who participate in this plan pursuant to Ark. Code Ann. § 23-42-301.

98-008
5/21/1998

DESIGNS IN GLASS, INC.

Request that no enforcement action be taken involving 100% sale of business, seller will amintain position on Board and receive a 5 year promissory note.

98-007
5/19/1998

MARK VIII CORPORATION - JAMES MOORE

Requesting no action that registration as an investment adviser is not needed when advice is given over the internet, but not based on the individual client's needs. James Moore is a registered agent and will receive compensation.

98-006
4/8/1998

CORNERSTONE MANAGEMENT PARTNERS, INC.

Integration issues regarding Ark. Code Ann. § 23-42-503(b) public offering exemption and Rule 503.01(B) of the Rules of the Arkansas Securities Commissioner.

98-005
3/31/1998

DEPARTMENT OF TRANSPORTATION, HAWAII

Requesting no action that guaranty of revenue bonds by Continental Airlines are not treated as a separate security.  Bonds are a covered security Section 18(b)(4)(C) of the Securities Act of 1933.

98-004
3/16/1998

COOPER CAMERON CORPORATION

Requesting no action that notes in this transaction are not considered securities, but a commercial transaction with a bank.

98-003
2/23/1998

CLEAR SKY

Requesting no action position that allows typed signatures instead of manual and notarized signatures.

98-002
1/13/1998

THOMAS COOK GROUP, LTD.

Request that no enforcement action be taken involving two companies with foreign subsidiaries and affiliates that would not normally generate audited finanicals on time. The Department will allow them to file at a later date, but require them to file interims on time.

98-001
1/9/1998

STANDARD & POOR'S

STANDARD CORPORATION RECORDS

Request for interpretative opinion of "manual exemption" pursuant to Ark. Code Ann. § 23-42-504(a)(2).


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