™Your Policy Risk Impact Agent
95 chapters · 3,921 sections in this title.
Ark. Code Ann. § 23-36-112 Late charge for default in payment
0.4K chars
Industrial loan institutions are authorized under this chapter to impose a late charge of five cents (5¢) for each default of the payment of one dollar ($1.00), or a fraction thereof, at the time any periodical installment upon a certificate assigned as collateral security for th…
Ark. Code Ann. § 23-36-113 Reserves
1.7K chars
(a) All industrial loan institutions shall establish, as a reserve against the choses in action, investment certificates, contracts, or agreements, described in § 23-36-108, not less than fifteen percent (15%) of the amount of the indebtedness thus created. (b) (1) Not less than …
Ark. Code Ann. § 23-36-114 Deposit of funds
0.4K chars
No industrial loan institution shall deposit any of its funds in any banking corporation unless the corporation has been designated as a depository by vote of a majority of directors, or of the executive committee, exclusive of any director who is an officer, director, or trustee…
Ark. Code Ann. § 23-36-115 Dividends
0.8K chars
An industrial loan institution operating under this chapter may, under proper authority from the board of directors of the industrial loan institution, declare a dividend of so much of the net profits of the industrial loan institution, after providing for all expenses, losses, r…