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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 Seq., repealed 2011)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 Seq., repealed 2011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 ART. 19, ?? 13 REPEALED, CONST.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: )