AR SB919

Adds new section 4-86-109 to Arkansas Code requiring lessors of personal property with automatic renewal clauses to provide written notice to lessees at least 30 days before the cancellation deadline for renewal.

Requires lessors to identify themselves in all communications with lessees, including monthly statements, provide a copy of the original lease agreement upon request, and disclose the full purchase price, interest rate, monthly payment, and total payoff amount.

Makes automatic lease renewal clauses voidable at the lessee's option if the lessor fails to provide required notice and information.

Exempts lease agreements with terms of less than one year from these notice and disclosure requirements.