AR SB177

Amends Arkansas Code § 4-47-107 to specify that when an obligation to pay interest arises under this chapter without a specified rate, the rate shall be that set forth in Arkansas Constitution Article 19, § 13, as amended by Amendment 60

Amends Arkansas Code § 4-57-102 to allow parties to loan money while reserving or discounting interest on commercial paper, mortgages, or other securities for any period authorized by Federal Housing Administration rules or for at least 36 months, whichever is greater, at rates not exceeding the applicable constitutional rate

Amends Arkansas Code § 4-57-104 to permit parties to agree in writing to payment of interest not exceeding the applicable rate set forth in Arkansas Constitution Article 19, § 13 by Amendment 89

Repeals Arkansas Code § 4-57-108, which previously provided for awards of reasonable attorney's fees to parties prevailing in litigation alleging willfully usurious consumer loans or credit sales under Amendment 60

Includes a clarifying provision stating that this act shall not repeal or implicitly affect other acts passed during the 89th General Assembly