This blog revisits a blog post published by The Law Group of Northwest Arkansas on October 26, 2022. The U.S. Department of Labor (DOL) published a notice of proposed rulemaking in late 2022 regarding the Biden administration’s approach to determining independent contractor status under federal wage law as provided by the Fair Labor Standards Act (FLSA). The comment period for this rule closed December 13, 2022. Now, the DOL has released its Final Rule on Independent Contractors. Unless otherwise specified, all information in this blog has been taken directly from the Federal Register’s Final ..read more

Companies across the United States should be aware of the Corporate Transparency Act (CTA), a new requirement stemming from the Anti-Money Laundering Act (AMLA) of 2020, aimed at allowing Congress to create measures to help combat money laundering in the United States.  Congress first enacted the CTA in January 2021 as an expansion of the AMLA which established protective measures against illegal activities including money laundering.  According to the United States Department of the Treasury, this act was primarily put in place to combat the practice of using shell companies for mon ..read more

Enforcement of the Final Rule to implement Section 1071 of the Dodd-Frank Act by the Consumer Financial Protection Bureau (“CFPB”) is dependent on the outcome of a case currently pending before the United States Supreme Court (“SCOTUS”).  If SCOTUS reverses the decision of the lower court, the Final Rule could be enforced which would require the collection of voluminous data from small businesses who apply for loans from covered financial institutions. Following is a summary breakdown of the Final Rule and what its implementation could potentially mean. What Is the Final Rule? To implemen ..read more

On April 4, 2023, Governor Sarah Huckabee-Sanders signed into law SB365, creating the Arkansas Student Due Process and Protection Act to establish procedural protections for student conduct disciplinary proceedings at public two-year and four-year institutions of higher education in Arkansas. The bill was first introduced on March 3, 2023 and was passed within a month of starting the legislative process. What Is SB365? SB365 establishes due process protections that ensure students and student organizations who face disciplinary actions from their universities are provided fair protections and ..read more

In a big win for creditors on May 31, 2023, in Wilmington Savings Fund Society d/b/a Christiana Trust, Trustee for BCAT 2015-4-BTT v. Milton A. Smith, 2023 Ark. App. 326, the Arkansas Court of Appeals held that: (1) a 1989 amendment to Arkansas’s statute of limitations for mortgage debt did not have the effect of precluding previous exceptions to the statute of limitations announced in earlier caselaw; and (2) that acceleration of the mortgage indebtedness in this particular case was waived by the recording of notices of cancellation of a nonjudicial (or statutory) foreclosure sale. Arkansas L ..read more

What Is a Service Animal? The Americans with Disabilities Act (ADA) defines a service animal as a working animal trained to do certain tasks for a person with a disability. The work or task must be directly related to that person’s disability and cannot be to provide comfort or emotional support. These animals must be under the handler’s control, housebroken, and must be tethered or on a leash unless it interferes with the tasks the animal provides. These animals can either be professionally trained or owner trained. Though dogs are the most common animals, the ADA also has a provision for min ..read more

In an ever-changing business landscape, it is critical that business owners and entrepreneurs stay in the know about new legislation that could impact the way businesses are run throughout the state. The Arkansas General Assembly has passed five acts that are set to become law starting on July 31, 2023. All business owners should be aware of what these acts are, and how it could affect their businesses going forward. Act 256 – Naming Legal Entities Act 256 makes a minor change to a familiar legal standard concerning how new business owners go about naming their legal entities. When someone cre ..read more

Buying a new vehicle can be an exciting, momentous step to take. Unfortunately, what should be a great experience can be marred by unseen vehicle defects or struggles to keep the vehicle running properly for day-to-day use. The Arkansas New Motor Vehicle Quality Assurance Act, also known as the Arkansas Lemon Law, provides some protections for consumers dealing with faulty new motor vehicles, but how do you know if the law applies to you? And, when it does, how do you go about getting a refund or replacement for your troublesome purchase? Who and What is Covered? Consumers in Arkansas who buy ..read more

On June 14, 2023, Pulaski County Circuit Judge Morgan “Chip” Welch issued an order that voided 27 laws regulating medical marijuana in Arkansas. According to the ruling, the General Assembly unconstitutionally overstepped its bounds when it passed legislation changing Amendment 98 that legalized the drug. The plaintiffs in this case were Good Day Farm Arkansas, LLC, a Pine Bluff cultivator, and Capital City Medicinal, LLC, a Little Rock dispensary. They sued the state in 2022, arguing that the Legislature bypassed the required constitutional amendment process and instead passed constitutional ..read more

One of The Law Group’s most enjoyable services to provide our clients is setting up a business for them, whether it’s an LLC, a corporation, or a partnership. We help our clients create a new business so that they can pursue their dreams, expand their assets, and provide for themselves and their families. While many people are informed about the values and advantages of setting up a business, fewer people consider what will happen with their business when they pass away; preparing for that eventuality is called business succession. Do I Need One? Business succession is related to the practice ..read more