23 CAR § 301-301. Advisory opinions and other legal interpretations

(a) The Securities Commissioner or the commissioner’s designee may issue advisory opinions or other legal interpretations regarding the Fair Mortgage Lending Act, Arkansas Code § 23-39-501 et seq., this part, or any other order issued under the Fair Mortgage Lending Act or this part. (b) Requests for written opinions or interpretations of the Fair Mortgage Lending Act or this part shall be in writing. (c) The request must meet the following qualifications: (1) An original and one (1) copy of each request; (2) The specific section or subsection of the particular statute, rule, or order to which the request pertains must be indicated in the request; (3)(A) The names of each person and entity involved in the underlying facts. (B) Requests relating to unnamed persons or entities, or to hypothetical situations, will not be answered; (4)(A) Requests should be limited to a particular situation involving the problem at hand and must not attempt to include every possible type of situation that may arise in the future. (B) The facts and representations must be specific, not general; (5) While it is essential that the request contain all facts necessary to reach a conclusion in the matter, the request should be concise and to the point; (6) An indication why the requesting party thinks a problem exists, his or her own opinion in the matter, and the basis for the opinion; and (7) If the requesting party seeks confidential treatment, a separate letter requesting confidential treatment and stating the basis for confidential treatment must be submitted with the request for informal advice.