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AR SB79

Bill

Official Source

Status

Passed

2/6/2019

Primary Sponsor

Jason Rapert

Click for details

Origin

Senate

92nd General Assembly (2019 Regular)

AI Summary

  • Amends Arkansas Code § 23-47-501(b)(2) regarding maximum loan limits on consumer loans
  • Clarifies that the 20% limitation on consumer loan obligations applies to each primary debtor, but not to the liability of an endorser who endorses without recourse
  • Defines "consumer loans" as credit extended to a natural person for personal, family, or household purposes
  • Approved February 6, 2019

Legislative Description

To Revise The Maximum Loan Limits Of Certain Loans.

Last Action

Notification that SB79 is now Act 62

2/6/2019

Committee Referrals

Insurance and Commerce1/29/2019
Insurance & Commerce1/14/2019

Full Bill Text

No bill text available