AR SB503

Amends Arkansas Code § 16-65-114(a) to add a new subdivision (a)(2) capping interest on circuit court judgments at the maximum rate permitted under Arkansas Constitution, Amendment 89.

Modifies subdivision (a)(1) to specify that circuit court judgments on contracts bear interest at the contract rate or 10% per annum, whichever is greater, and other judgments bear interest at 10% per annum.

Removes the reference to Arkansas Constitution, Article 19, § 13 as the interest rate cap and replaces it with Amendment 89.

Changes language in subsection (c) from "county warrants" to "county warrant" (singular) for grammatical correction regarding judgments against counties.

Makes clarifying technical corrections to Title 16 of the Arkansas Code relating to court practices and judgment procedures.