I believe that is if you are recording a phone call as that is the wire tap law in Arkansas and the one person that knows about it must talk on the recording. But just to record a converstion that is face to face i don't think it is required to tell them anything
In Arkansas, as well as most states, the law reads,
"Intercepting or recording any wire, oral, cellular or cordless phone conversation is a misdemeanor in Arkansas, unless the person recording is a party to the conversation, or one of the parties to the conversation has given prior consent." (Ark. Code § 5-60-120.) However, it is not unlawful for law enforcement investigations. (Ark. Code § 5-60-120.)
Federal law states that eavesdropping, or the intercepting and recording of electronic communications, cannot be be performed without the consent of at
least one party of the conversation. Many states have adopted the federal statues and have extended that to in-person oral communications.
Twelve states, however, have extended it to apply to all parties of the conversation. Those jurisdictions are California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Montana, Nevada, New Hampshire, Pennsylvania and Washington. Be aware that you will sometimes hear these referred to inaccurately as “two-party consent” laws. If there are more than two people involved in the conversation, all must consent to the taping.
Here is an excellent rundown of the laws and how they are applied, including the various state laws, including hidden camera video, reasonable expectation of privacy, and stuff like that. Pretty interesting.
"Can We Tape?"