§ 23-32-404 - Consent to service of process on Secretary of State. - Arkansas Statutes

23-32-404. Consent to service of process on Secretary of State.

(a) All investor companies, except national banking institutions and state-chartered banks subject to federal regulation, acting either in their own behalf or acting as trustee for trust funds, foundations, pension funds, or related investors, must, before purchasing mortgage notes, mortgages, or deeds of trust, file a statement with the Secretary of State constituting him as their agent for service.

(b) The statement shall contain the address of the investor company and shall be signed by the president, secretary, general manager, trustee, or other person charged with the administration of the funds of the investor company.

(c) It shall be the duty of the Secretary of State, upon service of process, to forward all such process forthwith by registered mail to the address shown on the statement of the appropriate investor company.