Legal Opinions

Year 1999


99-016
12/15/1999

GAUDIN & ASSOCIATES, INC.

BROOKE INZERELLA

Request no action position regarding the waiver of the Series 7 examination for an investment adviser representative.

99-015
12/8/1999

ARKANSAS MORTGAGE LOAN BROKER LICENSING REQUIREMENTS

Legal opinion regarding the requirement of a maintainer of a website or bulletin board, where mortgage loan brokers list property for free and lenders pay to access the website, to register as a loan broker.

99-014
11/8/1999

STATE STREET  

The Department received a request that no enforcement action will be taken if State Street files notice filing forms with a typed signature in lieu of a manual signature.

99-013
10/29/1999

ARKANSAS MORTGAGE LOAN COMPANY & LOAN BROKER ACT

Attorney presents six scenarios requesting advice on whether mortgage loan company registration is necessary or appropriate.

99-012
10/6/1999

IBT, INC.

Request no action position that Key Employee Stock Investment Program quailifies as employee stock purchase program even though plan does not qualify for federal income tax purposes as employee benefit plan.

99-010
9/14/1999

AMERICAN RIVERS OIL COMPANY

Request no-action position that the exchange offer conforms to class vote exemption provided in Rule 504.01(A)(12)(g) of the Rules of the Arkansas Securities Commissioner.

99-009
9/7/1999

"COVERED SECURITY"

Interpretation of § 18(b)(4)(A) of the Securities Act of 1933.

99-008
8/31/1999

FINANCIAL NETWORK INVESTMENT CORPORATION

No action position taken by staff of the Department to enforce the broker-delaer registration requirements of the Act with respect to the Arkansas financial institutions which enter into the networking aggrangements with the financial network as described in the request.

99-007
7/30/1999

JOHN HANCOCK MUTUAL LIFE INSURANCE COMPANY

Request that no enforcement action be taken for the demutualization of mutual life insurance company to stock life insurance company based on Rule 504.01(A)(12)(g) of the Rules of the Arkansas Securities Commissioner.

99-006
7/29/1999

METROPOLITAN LIFE INSURANCE COMPANY

Request that no enforcement action be taken for the demutualization of mutual life insurance company to stock life insurance company based on Rule 504.01(A)(12)(g) of the Rules of the Arkansas Securities Commissioner.

99-005
6/7/1999

DATA SYSTEMS NETWORK CORPORATION

Request that no enforcement action be taken for the issuance of common stock pursuant to a judicially approved class action settlement.

99-004-S
4/29/1999

SECURITIES

Request that no enforcement action be taken for the demutualization of mutual life insurance company based on Rule 504.01(A)(12)(g) of the Rules of the Arkansas Securities Commissioner promulgated under Ark. Code Ann. § 23-42-504(a)(12). (Request for confidential treatment granted) 

99-003
4/16/1999

ROBERT L. STILES

Denial of a no action request regarding registration as a broker-dealer or agent of the issuer pursuant to Ark. Code Ann. § 23-42-101(2)(A).

99-002
3/4/1999

PURINA MILLS, INC.

Request that no enforcement action be taken for the concering the offering of interest in a cattle mangement program. For ranchers and farmers that were already in the cattle business.

99-001
2/25/1999

CONWAY REGIONAL SURGERY CENTER, LLC

No action request concerning the sales of unites purchased soley for investment purposes pursuant to Ark. Code Ann. § 23-42-504(a)(9), Rule 504.01(a)(9)(A) and 206.01(A) of the Rules of the Arkansas Securities Commissioner.

98-014
2/10/1999

MILLENNIUM CAPITAL ADVISORS, INC.

Request for legal opinion on the Department's position regarding the propriety of payment by Milennium Capital Advisors, Inc. for the solicitation of customers.


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