AR SB763

Amends Arkansas Code § 17-24-201(b) to modify membership requirements for the State Board of Collection Agencies

Replaces the check-cashing industry representative position with an employee of a credit counseling agency exempt from taxation under § 501(c)(3) of the Internal Revenue Code

Adds a new board member to represent the elderly, who must be at least 60 years old, cannot be actively engaged in collection agencies, and requires Senate confirmation

Maintains existing requirements for two collection agency representatives selected from Associated Credit Bureaus of Arkansas and American Collectors Association, each with at least 5 years of industry experience

Immediately removes the existing check-cashing industry representative from the board upon the act's effective date