Ohio, I knew that payday loans
are legal in Arkansas. Thanks for the information. Can you please share
any authentic resource (gov site) with us where we can know about the
Arkansas payday loan laws in details?
[FONT="]
[QUOTE][/FONT] Constitution Of The State Of
Arkansas Of 1874
[FONT="]AMENDMENTS TO THE CONSTITUTION OF ARKANSAS OF 1874
AMEND. 89. [GOVERNMENTAL BONDS AND LOANS ??? INTEREST RATES - ENERGY
EFFICIENCY PROJECTS (CONST. ART. 19, ?? 13 REPEALED, CONST. AMEND. 30,
?? 5, AMEND. 38, ?? 5, AMEND.[/FONT] 62, ?? 1, AMEND. 65, ?? 4, AND
AMEND. 78, ?? 2 AMENDED)]. ?? 3. Other Loans. The maximum lawful rate of
interest on loans or contracts not described in Sections 1 and 2 shall
not exceed seventeen percent (17%) per annum.
[FONT="][/QUOTE][/FONT] Are you referring to this? Can you
highlight the section where it is written that payday loans are illegal
in Arkansas? It will be helpful for all the forum members. I just want
to know the law in details.
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Sub: #1 posted on Sun, 08/12/2012 - 11:45
(Posts: 20 | Credits: )
Sub: #2 posted on Mon, 08/13/2012 - 00:50
Arkansas State Information:
Legal Status: Prohibited (Check Casher Act, Ark. Code Ann. 23-52-101 et. Seq., repealed 2011)
Citation: Usury cap in Arkansas Constitution applies. Ark. Const. Amend. 89 ?? 3.
Small Loan Rate Cap: 17% per year set by ballot in 2010
Arkansas Attorney General
Office of the Attorney General
323 Center Street, Suite 200
ator: Little Rock, Arkansas 72201
Phone: 800-482-8982
Sub: #3 posted on Mon, 08/13/2012 - 06:17
Moderators Cum Industry Expert
(Posts: 5253 | Credits: )
Sub: #4 posted on Tue, 08/14/2012 - 23:12
(Posts: 679 | Credits: )
See the Check Casher Act, Ark. Code Ann. 23-52-101 et. Seq., repealed 2011
and
Usury cap citation: Arkansas Constitution (Ark. Const. Amend. 89 ?? 3)
Sub: #5 posted on Wed, 08/15/2012 - 06:14
Moderators Cum Industry Expert
(Posts: 5253 | Credits: )
Constitution Of The State Of Arkansas Of 1874
[FONT="]AMENDMENTS TO THE CONSTITUTION OF ARKANSAS OF 1874 AMEND. 89. [GOVERNMENTAL BONDS AND LOANS ??? INTEREST RATES - ENERGY EFFICIENCY PROJECTS (CONST. ART. 19, ?? 13 REPEALED, CONST. AMEND. 30, ?? 5, AMEND. 38, ?? 5, AMEND.[/FONT]
62, ?? 1, AMEND. 65, ?? 4, AND AMEND. 78, ?? 2 AMENDED)]. ?? 3. Other Loans. The maximum lawful rate of interest on loans or contracts not described in Sections 1 and 2 shall not exceed seventeen percent (17%) per annum.
[FONT="][/QUOTE][/FONT]
Are you referring to this? Can you highlight the section where it is written that payday loans are illegal in Arkansas? It will be helpful for all the forum members. I just want to know the law in details.
Sub: #6 posted on Thu, 08/16/2012 - 03:23
(Posts: 679 | Credits: )