(a) Notwithstanding any contractual provision to the contrary, if an Arkansas resident, while in this state, enters into a contract to purchase or to finance a purchase of real or personal property in Arkansas in an amount equal to or less than one hundred thousand dollars ($100,000), then:(1) Arkansas law governs the transaction; and(2) Any litigation pertaining to a contract described under this section is subject to the jurisdiction of this state.
(1) Arkansas law governs the transaction; and
(2) Any litigation pertaining to a contract described under this section is subject to the jurisdiction of this state.
(b) This section only applies to personal property if the personal property is used as a dwelling unit in Arkansas.
(c) As used in this section, “resident” means an individual only and does not include a corporate entity.