§ 17-23-202 - Application -- Bond -- Fee -- Waiting period -- Rules and regulations.

17-23-202. Application -- Bond -- Fee -- Waiting period -- Rules and regulations.

(a) Applications for license shall be in writing, under oath, and in the form prescribed by the Department of Arkansas State Police. They shall contain:

(1) The name and the address, both of the residence and place of business of the applicant, and if the applicant is a co-partnership or association, of every member thereof, and if a corporation, of each officer and director and of the principal owner or owners of the issued and outstanding capital stock thereof; and

(2) The city or town with the street and number, if any, where the business is to be conducted and, if a nonresident, of the principal place of business without the state and such further information as the department may require.

(b) If the applicant does not have a permanent business address in the state, evidenced by a lease or rental agreement or proof of ownership of the business, the applicant, as a condition of obtaining a license, shall furnish a surety bond issued by a surety company authorized to do business in Arkansas in a minimum amount of one hundred thousand dollars ($100,000) in favor of the State of Arkansas. The proceeds of the bond shall be available to assure compliance with all provisions of this chapter, and the payment of any and all taxes due the State of Arkansas or any political subdivision of the state as the result of the business for which the applicant is seeking a license. They shall also be available to satisfy any judgment which may be rendered against the licensee as a result of the operation of the business licensed under this chapter.

(c) At the time of making his or her initial application, the applicant shall pay to the department the sum of twenty-five dollars ($25.00) as a fee for investigating the application, and the additional sum of twenty-five dollars ($25.00) shall be paid for an initial license fee for a period terminating on the last day of the current calendar year. Thereafter, the annual renewal license fee shall be twelve dollars and fifty cents ($12.50). If the application for an initial license is filed after June 30 in any year, the license fee for the remainder of the year shall be only twelve dollars and fifty cents ($12.50).

(d) No initial license shall be issued until the expiration of a period of at least thirty (30) days after the date on which the application therefor is filed with the department.

(e) The department is authorized to promulgate rules and regulations not inconsistent herewith to provide for the effective discharge of the responsibilities granted by this chapter.