AR HB1704

Establishes the Arkansas State Consumer Justice Enforcement Act as Chapter 118 of Arkansas Code Title 4 to regulate standard-form contracts involving individuals as non-drafting parties.

Creates rebuttable presumption that five specific contractual terms are substantively unconscionable: requiring resolution in inconvenient venues, waiving statutory rights or punitive damages, limiting time to bring action or waiving statutes of limitations, and requiring excessive fees and costs to bring legal claims.

Defines "inconvenient venue" as a state or federal judicial district other than where a contract party resides or contract was consummated, with exception for the district where an individual suffered injury during contract performance.

Authorizes courts to limit unconscionable terms or refuse enforcement of entire contract or specific provisions containing unconscionable terms, with parties afforded opportunity to present evidence regarding commercial setting, purpose, and effect.

Makes violations enforceable through the Attorney General under existing unfair and deceptive practice provisions (§ 4-88-101 et seq.), with each unconscionable term constituting a separate violation.

Exempts standard-form contracts where one party is regulated by the Insurance Commissioner, Securities Commissioner, State Highway Commission, Bank Commissioner, or is a financial institution as defined under § 23-45-102.