It shall be unlawful for a loan broker to:(1) Assess or collect an advance fee from a borrower to provide services as a loan broker; or(2) Make or use unfair, false, misleading, or deceptive representations or to omit any material fact in the offer or sale of the services of a loan broker, or to engage, directly or indirectly, in any act that operates or would operate as an unfair, false, misleading, or deceptive representation in his or her business dealings.Acts 1993, No. 140, § 2.
Arkansas Legal Code