Ark. Code Ann. § 23-42-211 (2026)

1. 1. There is created on the books of the Chief Fiscal Officer of the State, the Auditor of State, and the Treasurer of State a fund to be known as the “Securities Department Fund”.
   2. The Securities Department Fund shall be used for the maintenance, operation, support, and improvement of the State Securities Department in carrying out its functions, powers, and duties as set out by law and by rule not inconsistent with law.
   3. The Securities Department Fund shall consist of those portions of fees designated for deposit into the Securities Department Fund under § 23-42-304(a)(2), (a)(4), and (a)(5), § 23-42-404(b)(1), and § 23-42-509(a).
   4. Notwithstanding subdivision (a)(3) of this section, at the end of each fiscal year, the Securities Commissioner shall transfer into the General Revenue Fund Account of the State Apportionment Fund any moneys in the Securities Department Fund that exceed the amount of the department's next fiscal-year budget.
2. The department is authorized to promulgate such rules necessary to administer the fees, rates, tolls, or charges for services established by this section and is directed to prescribe and collect such fees, rates, tolls, or charges for the services by the department in such manner as may be necessary to support the programs of the department as directed by the Governor and the General Assembly.

History. Acts 1959, No. 254, § 30; 1961, No. 248, § 10; 1973, No. 471, § 3; A.S.A. 1947, § 67-1262; Acts 1993, No. 659, §§ 1, 5; 1993, No. 850, §§ 1, 5; 2003, No. 759, § 1; 2009, No. 534, § 3; 2011, No. 294, § 8; 2013, No. 438, § 2; 2017, No. 668, § 14; 2019, No. 110, § 2; 2019, No. 315, § 2513.

Amendments. The 2009 amendment inserted “and (a)(5)” in (a)(3), and made related changes.

The 2011 amendment, in (a)(4), substituted “two million dollars ($2,000,000)” for “one million dollars ($1,000,000),” substituted “July 1, 2013” for “July 1, 2011,”and deleted “unless extended” at the end.

The 2013 amendment, in (a)(4), substituted “four million dollars ($4,000,000)” for “two million dollars ($2,000,000),” and deleted “until July 1, 2013, at which time this limitation shall expire” at the end.

The 2017 amendment deleted “and regulation” following “rule” in (a)(2); substituted “under § 23-42-304(a)(2), (a)(4), and (a)(5), § 23-42-404(b)(1), and § 23-42-509(a)” for “pursuant to §§ 23-42-304(a)(2), (a)(4), and (a)(5) and 23-42-404(b)(1) and such other funds as may be provided by law or regulatory action” in (a)(3); and substituted “two million five hundred thousand dollars ($2,500,000)” for “four million dollars ($4,000,000)” in (a)(4).

The 2019 amendment by No. 110 substituted “at the end of each fiscal year, the Securities Commissioner shall transfer into the General Revenue Fund Account of the State Apportionment Fund any moneys in the Securities Department Fund that exceed the amount of the department's next fiscal-year budget” for “no more than two million five hundred thousand dollars ($2,500,000) shall be deposited into the fund in any one (1) fiscal year” in (a)(4).

The 2019 amendment by No. 315 deleted “and regulations” following “rules” in (b).