™Your Policy Risk Impact Agent
88 chapters · 2,278 sections in this title.
Ark. Code Ann. § 4-92-101 Title
0.1K chars
This chapter shall be known and may be cited as the “Rental Purchase Act”.
Ark. Code Ann. § 4-92-102 Definitions
3.1K chars
(1) As used in this chapter, unless the context otherwise requires:(1) “Advertisement” means a commercial message in any medium that directly or indirectly promotes or assists a rental-purchase agreement, except for in-store merchandising aids;(2) “Consumer” means a person who le…
Ark. Code Ann. § 4-92-103 Liability of lessor
2.0K chars
(a) A consumer damaged by a violation of this chapter by a lessor is entitled to recover from the lessor:(1) Actual damages;(2) Twenty-five percent (25%) of an amount equal to the total amount of payments required to obtain ownership of the merchandise involved. However, the amou…
Ark. Code Ann. § 4-92-104 Agreement — Nature
0.6K chars
An agreement which conforms with the definition as set forth in § 4-92-102(7) shall be a true lease and shall not constitute a credit sale, retail installment contract, agreement, obligation, or any other type of credit sale financing device, nor shall it create a security intere…