Arkansas. Statutory Language

Arkansas Statute 5-33

ARKANSAS STATUTE

UNFAIR PRACTICES ACT

ARK. CODE ANN. §§ 4-75-201 to 4-75-217

§ 4-75-201. Title

This subchapter shall be known and designated as the “Unfair Practices Act.”

§ 4-75-202. Purpose

The General Assembly declares that the purpose of this subchapter is to

safeguard the public against the creation or perpetuation of monopolies and to foster

and encourage competition by prohibiting unfair and discriminatory practices by

which fair and honest competition is destroyed or prevented.

§ 4-75-203. Construction

This subchapter shall be literally construed so that its beneficial purposes may be

subserved.

§ 4-75-204. Penalties

Any person, firm, or corporation, whether as principal, agent, officer, or director

for himself or herself or itself, for another person, or for any firm or corporation, that

shall violate any of the provisions of this subchapter is guilty of a Class A

misdemeanor for each single violation.

§ 4-75-205. Forfeiture of charter, rights, etc. – proceedings

(a) Upon the third violation of any of the provisions of this subchapter by any

corporation, it shall be the duty of the Attorney General to institute proper suits or

quo warranto proceedings in any court of competent jurisdiction for the forfeiture of

its charter, rights, franchises, or privileges and powers exercised by the corporation,

and to permanently enjoin it from transacting business in this state.

(b) If in such action the court finds that the corporation is violating or has

violated any of the provisions of this subchapter, it must enjoin the corporation from

doing business in this state permanently or for such time as the court shall order, or

must annul the charter or revoke the franchise of the corporation.