§ Ark. Code § 7-9-125Definition — Prohibition of profit — Penalties — Freedom of information

(a) As used in this section, “property” means both real and personal property and includes
without limitation both tangible and intangible property.
(b)(1) No person who is a sponsor of an initiative petition, referendum petition, or constitutional amendment which proposes the sale of property owned by a municipality or county shall
receive anything of value as a result of the passage of the act sponsored by the person.
(2) A sponsor of an initiative petition, referendum petition, or constitutional amendment
which proposes the sale of property owned by a municipality or county shall file, within sixty (60)
calendar days of the election at which the initiative, referendum, or constitutional amendment
has been voted upon, with the Secretary of State an accounting of all expenditures by the sponsor
in connection with the petition or amendment.
(3) No person shall directly or indirectly benefit from sponsorship of a petition or amendment
which proposes the sale of property owned by a municipality or county by contracting sponsorship
activities to any business enterprise in which the sponsor has a substantial interest.
(4) Nothing in this act shall prohibit the circulation of petitions or compensation to persons
who circulate the petitions.
(c)(1)(A) If a sponsor violates any provision of subsection (b) of this section, the sponsor shall
be fined an amount equal to twice the amount of the person’s personal gain.
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7-9-126
ELECTIONS
(B) The fine shall be paid to the state, municipality, or county in which the petition or
amendment was voted upon.
(2) This section shall be enforced by the:
(A) City attorney of the municipality;
(B) Prosecuting attorney of the county; or
(C) Attorney General of this state.
(d) The expense reports filed by the sponsor of the petition shall be subject to the Freedom of
Information Act of 1967, § 25-19-101 et seq.