§ 23-39-517 - Transition. - Arkansas Statutes

23-39-517. Transition.

(a) Effective January 1, 2008, all licenses issued or renewed under this subchapter shall expire on December 31 of each year, unless sooner terminated by surrender, abandonment, change of employment, or order of the Securities Commissioner.

(b) If a license is issued or renewed during the 2008 calendar year, one-fourth (1/4) of the fees prescribed in 23-39-505(e), 23-39-505(i), 23-39-506(a)(3), and 23-39-506(c)(2) shall be charged for each full or partial calendar quarter remaining in the calendar year on the date that the application is filed with the commissioner.

(c) (1) All licenses in effect on December 31, 2007, that are scheduled to expire during the 2008 calendar year shall continue until the stated expiration date of the license, unless sooner terminated by surrender, abandonment, change of employment, or order of the commissioner.

(2) Upon expiration or termination of a license for any reason:

(A) Any reissuance or renewal of the license shall be accompanied by the fee set forth in subsection (b) of this section; and

(B) The license shall expire on December 31, 2008, unless sooner terminated by surrender, abandonment, change of employment, or order of the commissioner.