Disclosures required — Definitions

Ark. Code Ann. § 27-14-1503 — under Motor Vehicle Administration, Certificate of Title, and Antitheft Act.

Ark. Code Ann. § 27-14-1503

(a) As used in this section:(1) “Affiliated person” means:(A) Any officer, director, or partner of an applicant; and(B) Any person owning or controlling more than five percent (5%) of the applicant's debt or equity;(2) (A) “Applicant” means an entity engaged in the business of operating a taxicab, automobile, or similar vehicle used for hire.(B) “Applicant” does not include an entity providing services under the Transportation Network Company Services Act, § 23-13-701 et seq.; and(3) “Disclosure statement” means a notarized, written statement by the applicant that contains:(A) A complete list of business names or identities under which the applicant has previously operated a business engaged in carrying passengers for hire;(B) A complete list of names used by affiliated persons or owner of the applicant entity within the previous ten (10) years;(C) The case style, case number, or a copy of a judgment entered or lien filed against the applicant or an affiliated person; and(D) The case style, case number, or a copy of pleadings of any bankruptcy proceeding in which the applicant or an affiliated person was named as a debtor or a discharge of a debt against the applicant or an affiliated person was obtained.

(1) “Affiliated person” means:(A) Any officer, director, or partner of an applicant; and(B) Any person owning or controlling more than five percent (5%) of the applicant's debt or equity;

(A) Any officer, director, or partner of an applicant; and

(B) Any person owning or controlling more than five percent (5%) of the applicant's debt or equity;

(2) (A) “Applicant” means an entity engaged in the business of operating a taxicab, automobile, or similar vehicle used for hire.(B) “Applicant” does not include an entity providing services under the Transportation Network Company Services Act, § 23-13-701 et seq.; and

(A) “Applicant” means an entity engaged in the business of operating a taxicab, automobile, or similar vehicle used for hire.

(B) “Applicant” does not include an entity providing services under the Transportation Network Company Services Act, § 23-13-701 et seq.; and

(3) “Disclosure statement” means a notarized, written statement by the applicant that contains:(A) A complete list of business names or identities under which the applicant has previously operated a business engaged in carrying passengers for hire;(B) A complete list of names used by affiliated persons or owner of the applicant entity within the previous ten (10) years;(C) The case style, case number, or a copy of a judgment entered or lien filed against the applicant or an affiliated person; and(D) The case style, case number, or a copy of pleadings of any bankruptcy proceeding in which the applicant or an affiliated person was named as a debtor or a discharge of a debt against the applicant or an affiliated person was obtained.

(A) A complete list of business names or identities under which the applicant has previously operated a business engaged in carrying passengers for hire;

(B) A complete list of names used by affiliated persons or owner of the applicant entity within the previous ten (10) years;

(C) The case style, case number, or a copy of a judgment entered or lien filed against the applicant or an affiliated person; and

(D) The case style, case number, or a copy of pleadings of any bankruptcy proceeding in which the applicant or an affiliated person was named as a debtor or a discharge of a debt against the applicant or an affiliated person was obtained.

(c) An applicant shall file a disclosure statement with the Secretary of the Department of Finance and Administration annually.

(d) The secretary shall promulgate rules to implement this section.