Arkansas Statutes
§ 4-57-103 — Statement of principal and interest
Arkansas·Title 4
(a)Upon written request of the borrower or debtor, any seller, lender, or any other person, corporation, or legal entity extending credit in this state shall furnish the borrower or debtor at the time of extending credit or of making the sale with a statement separately stating the principal and interest charged for any goods, property, or services sold to the borrower or debtor.
(b)(1) Any creditor willfully refusing to furnish the statement of principal and interest as required in this section or who upon furnishing the statement of principal and interest to the borrower or debtor fraudulently misrepresents the amount of principal or interest paid shall be guilty of a violation and upon conviction shall be subject to a fine of not less than fifty dollars ($50.00) nor more than five hun
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Legislative History
Acts 1969, No. 259, §§ 1, 2; A.S.A. 1947, §§ 68-612, 68-613; Acts 2005, No. 1994, § 37.
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