Arkansas § 4-116-106 Oral disclosures

Arkansas Statutes

§ 4-116-106 — Oral disclosures

Arkansas § 4-116-106

Title4

This text of Arkansas § 4-116-106 (Oral disclosures) 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. § 4-116-106 (2026).

Text

(a)If a consumer applies for a refund anticipation loan, the facilitator shall orally inform the consumer:

(1)That the product is a loan that lasts one (1) or two (2) weeks;

(2)That if the consumer's tax refund is less than expected, the consumer is liable for the full amount of the loan and must repay any difference;

(3)The amount of the refund loan fee; and (4) The refund anticipation loan interest rate.

(b)If a consumer applies for a refund anticipation check, the facilitator shall orally inform the consumer:

(1)The amount of the refund check; and (2) That the consumer may receive a refund in the same amount of time without a fee if the tax return is filed electronically and if the consumer directly deposits the refund into the consumer's own bank account.

(c)The disclosures requ

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If a consumer applies for a refund anticipation loan, the facilitator shall orally inform the consumer: (1) That the product is a loan that lasts one (1) or two (2) weeks; (2) That if the consumer's tax refund is less than expected, the consumer is liable for the full amount of the loan and must repay any difference; (3) The amount of the refund loan fee; and (4) The refund anticipation loan interest rate. (b) If a consumer applies for a refund anticipation check, the facilitator shall orally inform the consumer: (1) The amount of the refund check; and (2) That the consumer may receive a refund in the same amount of time without a fee if the tax return is filed electronically and if the consumer directly deposits the refund into the consumer's own bank account. (c) The disclosures required in this section shall be provided in the language primarily used for oral communication between the facilitator and the consumer.