(a)

1. (1) All decisions and orders of the Securities Commissioner concluding a proceeding shall be:

   1. (A) In writing; and
   2. (B) Served on all parties.

2. (2)

   1. (A) The order will include a recitation of facts found based on testimony, other evidence presented, and reasonable inferences derived from the evidence pertinent to the issues of the case.
   2. (B) It will also state conclusions of law and directives or other disposition entered against or in favor of the respondent.

3. (3)

   1. (A) The order will be served personally or by mail on the parties.
   2. (B) If respondent is represented by an attorney, service of the order on respondent’s attorney shall be deemed service on the respondent.

(b) Summary order. In addition to the procedures set forth in CAR §§ 301-1305, 1315, and 1324, and subsection (a) of this section, the commissioner may issue a summary order:

1. (1) Whether a person is an applicant, licensee, or other person, to cease and desist from an act or practice or apply directly to a court of competent jurisdiction for such relief as the commissioner deems appropriate pursuant to Arkansas Code §23-39-514(e) and (m):

   1. (A) If it is in the public interest; and
   2. (B) The commissioner deems it necessary; or

2. (2)

   1. (A) To postpone the approval of a license for an applicant or suspend the license of a licensee, if the State Securities Department staff learns that an applicant or licensee has failed to comply with the Fair Mortgage Lending Act, Arkansas Code § 23-39-501 et seq., or this part.
   2. (B)

(i) If such a summary order is entered, the commissioner must promptly notify the applicant or licensee, as well as the employer or prospective employer, if applicable.

1. (ii) Notification or service shall be by United States Postal Service.

   1. (C) The summary order remains in effect pending final determination of a proceeding to deny or revoke the application as a result of a hearing.

   2. (D)

      1. (i) The date for a hearing on a summary order shall be set no more than fifteen (15) days after receipt of a written request to hold such a hearing.
      2. (ii) If no hearing is requested, the summary order will remain in effect until modified or vacated by the commissioner.

   3. (E)

      1. (i) A summary order entered prior to a hearing can be used to postpone or suspend applications or license.
      2. (ii) Revocation can occur only after the filing of a pleading and notice of hearing.
      3. (c) Amended orders.
2. (1) All orders may be vacated or modified if conditions change or it is otherwise in the public interest to do so.

3. (2) Such modifications will be evidenced by an amended order.

   1. (d)
4. (1) Nothing shall prohibit or restrict informal disposition of a pleading or order by stipulation, settlement, consent, or default in lieu of a formal or informal hearing on the matter or in lieu of sanctions imposed.
5. (2) An order shall be entered if administrative proceedings have been instituted or a pleading has been filed.
6. (3) All orders shall be public.