Legal Opinions

Year 2004


04-90000326-NA009
12/7/2004

HSV DREAMHOMES, LLC

Request for staff's position in regards to the necessity of registration under the Arkansas Securities Act, Ark. Code Ann. § 23-24-101 for the offer and sale of equity memberships in HSV Dreamhomes, LLC.

03-90000317-NA016
10/26/2004

MARK L. KUSS INVESTMENT AGREEMENT

Request for opinion concerning a contemplated transaction for the investment into the manufacturing and marketing of a camera accessory product  and whether or not this is an exempt activity.

03-90000316-NA015
9/16/2004

COLLINS BAY ISLAND SECURITIES, LLC

Request for issuance of a no action letter stating that Collins Bay Island Securities LLC is exempt from registration under the Arkansas Securities Act.

14369CS-Supp
8/4/2004

WAL-MART STORES, INC.

EMPLOYEE BENEFIT PROGRAM

Request that no enforcement action be taken against Wal-Mart for not being registered under the Arkansas Fair Mortgage Lending Act, Ark. Code Ann. § 23-39-501.  This is a supplement to previous letter sent in 2004.

19295-CS
7/12/2004

DEFINITION OF MORTGAGE LOAN SERVICER

Request for issuance of opinion from the Department in regards to the need to register as a mortgage banker for acquiring independently funded residential mortgage loans for investment or resale without servicing and/or acquiring and holding the servicing rights without engaging in payment collection.

17560-CS
6/30/2004

NEW CENTURY MORTGAGE CORP.

Request for guidance under the Arkansas Fair Mortgage Lending Act, codified as Ark. Code Ann. § 24-39-501 pertaining to licensing requirements as it applies to individuals identified as Account Executives.

04-90000322-NA005
6/29/2004

AMERICAN PHARMACY COOPERATIVE, INC.

Request for no action position regarding stock of American Pharmacy Cooperative, opining that it is not a security within the definition found in the Arkansas Securities Act, Ark. Code Ann. § 23-42-102(15)(A)(Supp.2003).

15041CS
4/2/2004

NLR RESIDENTIAL HOUSING FACILITIES BOARD REVENUE BONDS

Request that no enforcement action be taken against the NLR Housing Facilities Board or Greystone Servicing Corporation, Inc. if either engage in certain transactions without being registered under the Arkansas Fair Mortgage Lending Act, Ark Code Ann. § 23-39-501.

14639CS
1/16/2004

WAL-MART STORES, INC

EMPLOYEE BENEFIT PROGRAM

Request that no enforcement action be taken against Wal-Mart for engaging in certain activities without being licensed under the Arkansas Fair Mortgage Lending Act, Ark. Code Ann. § 23-39-501.  These activities include writing loans in connection with the employee benefit program in which no compensation or pecuniary gain exists.


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