§ 4-115-102. Penalties and enforcement
(a) A violation of the provisions of this chapter by a person or entity providing credit card processing service shall constitute an unfair and deceptive act or practice, as defined by § 4-88-101 et seq. (b) All remedies, penalties, and authority granted to the Attorney General under § 4-88-101 et seq. shall be available to […]
§ 4-115-103. Applicability and exclusions
(a) Nothing contained in this chapter shall: (1) Affect the jurisdiction of state or federal bank regulators over the regulation of credit card processing services provided by state or national banks; or (2) Limit the rights or remedies that are otherwise available to a person or an entity that has contracted with a credit card […]
§ 4-116-101. Title and intent
(a) This act shall be known and referred to as the “Refund Anticipation Loan Act”. (b) It is the intent of the General Assembly that this act shall protect consumers who enter into a refund anticipation loan and a refund anticipation check transaction.
§ 4-114-101. Title
This chapter shall be known and may be cited as the “Service Contracts Act”.
§ 4-116-102. Definitions
(1) “Consumer” means a person who, individually or in conjunction with another consumer, is solicited for, applies for, or receives a refund anticipation loan or refund anticipation check; (2) “Creditor” means a person who makes a refund anticipation loan or who takes an assignment of a refund anticipation loan; (3) (A) “Facilitator” means a person […]
§ 4-114-102. Scope and purpose
(a) The purpose of this chapter is to: (1) Create a legal framework within which service contracts are defined, may be sold, and are regulated in this state; (2) Add significant consumer protections; and (3) Eliminate unnecessary administration. (b) A service contract under § 4-114-103 is not insurance and is not subject to the Arkansas […]
§ 4-116-103. Scope
Unless a facilitator has complied with the provisions of this chapter, a facilitator, including any officer, agent, employee or representative, individually or in conjunction or cooperation with another person, shall not: (1) Solicit the execution of, process, receive, or accept an application or agreement for a refund anticipation loan or refund anticipation check; or (2) […]
§ 4-114-103. Definitions
As used in this chapter: (1) “Administrator” means the person who is responsible for the administration of a service contract; (2) “Consumer” means an individual who buys other than for purposes of resale any tangible personal property that is distributed in commerce and that is normally used for personal, family, or household purposes and not […]
§ 4-116-104. Posting of fee schedules and disclosures
(a) A facilitator shall display a schedule showing the current fees for refund anticipation loans or refund anticipation checks facilitated at the office. (b) A facilitator also shall prominently display on each fee schedule the following information: (1) Examples of the interest rates charged for refund anticipation loans in the amounts of: (A) Two hundred […]
§ 4-114-104. Requirements for doing business
(a) A provider may appoint an administrator or other designee to be responsible for all or part of the administration of service contracts and compliance with this chapter. (b) Service contracts shall not be issued, sold, or offered for sale in this state unless the provider or its designee has: (1) Provided a receipt or […]