Browse Arkansas Code titles and sections
23-36-109. Loan limits.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-36-109. Loan limits.
The total liabilities to any industrial loan institution of any person, corporation, company, or firm for money borrowed, including in the liabilities of the company or firm the liabilities of the several members thereof, shall at no time exceed twenty percent (20%) of the actually paid-up capital and surplus of the industrial loan institution. However, the discount of bona fide bills of exchange or acceptances drawn against actually existing values and the discount of commercial or business paper actually owned by the person, corporation, company, or firm negotiating them shall not be considered money so borrowed.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-36-109
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-36-109
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 96d5c3bf9252a74997a5328762c2ea152c655325660b4231abd9d3905e6e29f9
Source location: content.xml paragraph 17009
Stored source content
23-36-109. Loan limits.
The total liabilities to any industrial loan institution of any person, corporation, company, or firm for money borrowed, including in the liabilities of the company or firm the liabilities of the several members thereof, shall at no time exceed twenty percent (20%) of the actually paid-up capital and surplus of the industrial loan institution. However, the discount of bona fide bills of exchange or acceptances drawn against actually existing values and the discount of commercial or business paper actually owned by the person, corporation, company, or firm negotiating them shall not be considered money so borrowed.
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