Arkansas § 4-92-105 Agreement - Provisions prohibited and required

Arkansas Statutes

§ 4-92-105 — Agreement - Provisions prohibited and required

Arkansas § 4-92-105

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This text of Arkansas § 4-92-105 (Agreement - Provisions prohibited and required) 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. § 4-92-105 (2026).

Text

(a)A rental-purchase agreement shall not contain a provision:

(1)Requiring a confession of judgment;

(2)Authorizing a merchant or agent of the merchant to commit a breach of the peace while repossessing merchandise;

(3)Waiving a defense, counterclaim, or right the consumer may have against the merchant or an agent of the merchant; or (4) Requiring the purchase of insurance from the merchant to cover the merchandise.

(b)A rental-purchase agreement must disclose:

(1)Whether the merchandise is new or used;

(2)The amount and timing of regular rental payments;

(3)The total number of payments necessary and the total amount to be paid to acquire ownership;

(4)The amounts and purpose of any other payment, charge, or fee in addition to the regular periodic rental payment;

(5)That the cons

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(a) A rental-purchase agreement shall not contain a provision: (1) Requiring a confession of judgment; (2) Authorizing a merchant or agent of the merchant to commit a breach of the peace while repossessing merchandise; (3) Waiving a defense, counterclaim, or right the consumer may have against the merchant or an agent of the merchant; or (4) Requiring the purchase of insurance from the merchant to cover the merchandise. (b) A rental-purchase agreement must disclose: (1) Whether the merchandise is new or used; (2) The amount and timing of regular rental payments; (3) The total number of payments necessary and the total amount to be paid to acquire ownership; (4) The amounts and purpose of any other payment, charge, or fee in addition to the regular periodic rental payment; (5) That the consumer does not acquire any ownership rights until the consumer has complied with the ownership terms of the agreement; (6) Whether the consumer is liable for loss or damage to the merchandise, and if so, the maximum amount for which the consumer may be held liable; and (7) Notice of the right to reinstate an agreement as provided in § 4-92-106(a) .