Arkansas § 12-62-708 Fines and penalties on contracts

Arkansas Statutes

§ 12-62-708 — Fines and penalties on contracts

Arkansas § 12-62-708

Title12

This text of Arkansas § 12-62-708 (Fines and penalties on contracts) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 12-62-708 (2026).

Text

(a)If compliance with the terms of a contract is stayed under this subchapter, a fine or penalty may not accrue by reason of failure to comply during the period of the stay.

(b)If a service member has not obtained a stay and a fine or penalty is imposed for nonperformance of an obligation, a court may relieve enforcement if the service member was in military service when the penalty was incurred and his or her ability to pay or perform was materially impaired.

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(a) If compliance with the terms of a contract is stayed under this subchapter, a fine or penalty may not accrue by reason of failure to comply during the period of the stay. (b) If a service member has not obtained a stay and a fine or penalty is imposed for nonperformance of an obligation, a court may relieve enforcement if the service member was in military service when the penalty was incurred and his or her ability to pay or perform was materially impaired.