{"data":{"id":"us-ar/ark.-code-ann.-23-55-204","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 23-55-204","heading":"Surety bonds","body":"(a) An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the Securities Commissioner. (b) The amount of the required security under this section shall be: (1) the greater of $100,000 or an amount equal to 100 percent of the licensee's average daily money transmission liability in this state, calculated for the most recently completed three-month period, up to a maximum of $500,000; or (2) if the licensee's tangible net worth exceeds 10 percent of total assets, then the licensee shall maintain a surety bond of $100,000. (c) A licensee that maintains a bond in the maximum amount provided for in subsection (b), as applicable, is not required to calculate its average daily money transmission liability in this state for purposes of § 23-55-702 . (d) A licensee may exceed the maximum required bond amount under § 23-55-702(a)(6) . Amended by Act 2023, No. 442,§ 4, eff. 8/1/2023. Amended by Act 2019, No. 111,§ 2, eff. 7/24/2019. Amended by Act 2017, No. 620,§ 1, eff. 8/1/2017. Amended by Act 2013, No. 531,§ 5, eff. 8/16/2013. Acts 2007, No. 1595, § 1; 2009, No. 486, § 9; 2011, No. 733, § 4.\n\n(a) An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the Securities Commissioner.\n\n(b) The amount of the required security under this section shall be: (1) the greater of $100,000 or an amount equal to 100 percent of the licensee's average daily money transmission liability in this state, calculated for the most recently completed three-month period, up to a maximum of $500,000; or (2) if the licensee's tangible net worth exceeds 10 percent of total assets, then the licensee shall maintain a surety bond of $100,000.\n\n(1) the greater of $100,000 or an amount equal to 100 percent of the licensee's average daily money transmission liability in this state, calculated for the most recently completed three-month period, up to a maximum of $500,000; or\n\n(2) if the licensee's tangible net worth exceeds 10 percent of total assets, then the licensee shall maintain a surety bond of $100,000.\n\n(c) A licensee that maintains a bond in the maximum amount provided for in subsection (b), as applicable, is not required to calculate its average daily money transmission liability in this state for purposes of § 23-55-702 .\n\n(d) A licensee may exceed the maximum required bond amount under § 23-55-702(a)(6) .","path":["AR Code","Title 23","Chapter 55"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"87b521eada6b54a7b579d44131b26325c6b0572f64a37ee84330d2d3acfb7c64","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-23-55-202","next":"us-ar/ark.-code-ann.-23-55-205"},"notice":"GroundRules: Original legal text. Not legal advice."}