Licensee as wholesaler and retailer.
(a) A person who is licensed as a wholesaler and as a retailer shall maintain
wholesale and retail stocks in separate buildings. However, this subsection
shall not apply if stamps denoting payment of the tax on the wholesale
stocks and the retail stocks of cigarettes are properly affixed.
(b) Every wholesaler who maintains a business as a retailer shall keep a record
of his or her wholesale operations showing the amount of stamps purchased,
if any, and all purchases from whatever source, and all sales whether
to himself or herself as retailer or to another. This record shall be
subject to inspection by the Department of Finance and Administration
and the Arkansas Tobacco Control Board.
(c) Records shall be kept on forms prescribed by the Director of the Department
of Finance and Administration.
If a wholesaler refuses to keep the records required by or to comply with
this section, the Director of Arkansas Tobacco Control may revoke all
permits that have been issued to the wholesaler.