§ 23-44-109 - Written statement to be furnished upon demand -- Effect of noncompliance. - Arkansas Statutes

23-44-109. Written statement to be furnished upon demand -- Effect of noncompliance.

(a) Every person shall furnish, upon demand, to any principal from whom that person has executed any contract or sale for the future delivery of any cotton, grain, stocks, or other commodities, a written instrument setting forth the name and location of the exchange, board of trade, or similar institution upon which the contract has been executed, the date of execution of the contract, and the name and address of the persons with whom the contract was executed.

(b) If the person shall refuse or neglect to furnish the statement upon reasonable demand, the refusal or neglect shall be prima facie evidence that the contract was an illegal contract within the provisions of 23-44-105, and that the person who executed it was engaged in the maintenance and operation of a bucket shop subject to the penalty provided by 23-44-102.