Opinions

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)

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).

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

No action request concerning the sales of unites purchased solely 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.

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

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.

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.

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.

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 pursuant to Ark. Code Ann. § 23-42-102(13).