AR SB181

Establishes the "Foundation Repair Contracts Act" as a new subchapter under Arkansas Code Title 4, Chapter 75 to regulate foundation repair contracts and prevent misleading or deceptive business practices.

Requires foundation repair contracts to include the legal description and street address of the single-family dwelling and the names and addresses of both the homeowner and contractor parties.

Makes foundation repair contracts enforceable by homeowners against contractors for the time period specified in the contract.

Authorizes homeowners who successfully sue for remedies under this act to recover repair costs, defect remediation expenses, structural damage reconstruction costs, court costs, and reasonable attorney's fees.

Defines "contractor" as a person or entity that repairs foundations of single-family dwellings, "homeowner" as initial or subsequent owners of single-family dwellings, and "single-family dwelling" as structures built for habitation by 1 to 4 families.