Arkansas Statutes
§ 4-56-101 — Attorney's fees
Arkansas·Title 4
(a)A provision in a promissory note for the payment of reasonable attorney's fees, not to exceed ten percent (10%) of the amount of principal due, plus accrued interest, for services actually rendered in accordance with its terms is enforceable as a contract of indemnity.
(b)This section shall apply only to notes executed from and after June 7, 1951.
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Related
First Nat. Bank of Crossett v. Griffin
832 S.W.2d 816 (Supreme Court of Arkansas, 1992)
Damron v. University Estates, Phase II, Inc.
750 S.W.2d 402 (Supreme Court of Arkansas, 1988)
Kinkead v. Union National Bank
907 S.W.2d 154 (Court of Appeals of Arkansas, 1995)
Loewer v. National Bank
844 S.W.2d 329 (Supreme Court of Arkansas, 1992)
Legislative History
Acts 1951, No. 350, §§ 1, 2; A.S.A. 1947, §§ 68-910, 68-910n.
Nearby Sections
15
§ 4-1-101
Short titles§ 4-1-102
Scope of subtitle§ 4-1-104
Construction against implicit repeal§ 4-1-105
Severability§ 4-1-106
Use of singular and plural - Gender§ 4-1-107
Section captions§ 4-1-201
General definitions§ 4-1-202
Notice - Knowledge§ 4-1-204
Value§ 4-1-205
Reasonable time - Seasonableness§ 4-1-206
Presumptions