There is a newer version of the Arkansas Code
2010 Arkansas Code
Title 18 - Property
Subtitle 2 - Real Property
Chapter 16 - Landlord and Tenant
Subchapter 3 - Security Deposits
§ 18-16-303 - Exemptions.
(a) This subchapter shall not apply to dwelling units owned by an individual, if the individual, his or her spouse and minor children, and any and all partnerships, corporations, or other legal entities formed for the purpose of renting dwelling units and of which they are officers, owners, or majority shareholders own, or collectively own, five (5) or fewer dwelling units.
(b) This exemption does not apply to units for which management, including rent collection, is performed by third persons for a fee.
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