Arkansas § 12-62-709 Exercise of rights not to affect future financial transactions

Arkansas Statutes

§ 12-62-709 — Exercise of rights not to affect future financial transactions

Application by a service member in military service for, or receipt of, a stay, postponement, or suspension under this subchapter in the payment of any fine, penalty, insurance premium, or other civil obligation or liability may not be used for any of the following:

(1)A determination by any lender or other person that the service member is unable to pay any civil obligation or liability in accordance with its terms;

(2)With respect to a credit transaction between a creditor and a service member:

(A)A denial or revocation of credit by the creditor;

(B)A change by the creditor in the terms of an existing credit arrangement; or (C) A refusal by the creditor to grant credit to the service member in substantially the amount or on substantially the terms requested; or (3) An adverse report

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Application by a service member in military service for, or receipt of, a stay, postponement, or suspension under this subchapter in the payment of any fine, penalty, insurance premium, or other civil obligation or liability may not be used for any of the following: (1) A determination by any lender or other person that the service member is unable to pay any civil obligation or liability in accordance with its terms; (2) With respect to a credit transaction between a creditor and a service member: (A) A denial or revocation of credit by the creditor; (B) A change by the creditor in the terms of an existing credit arrangement; or (C) A refusal by the creditor to grant credit to the service member in substantially the amount or on substantially the terms requested; or (3) An adverse report relating to the creditworthiness of the service member by or to any person or entity engaged in the practice of assembling or evaluating consumer credit information.

Arkansas § 12-62-709 (Exercise of rights not to affect future financial transactions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.