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Ark. Code Ann. § 4-107-202

Cardholders protected

Acts 1999, No. 1497, § 2.

(1) If a credit cardholder transfers an outstanding credit card balance from one credit card account to another credit card account, the creditor issuing the credit card from which the outstanding balance was transferred shall not collect any interest or any other fees attributable to the credit card account for the amount of the outstanding balance having been transferred for any period after the date of the transfer from the account.

(2) Any creditor issuing a credit card who charges a consumer any interest or any other fees after the transfer of an outstanding credit balance from one credit card account to another credit card account shall be liable to the consumer for an amount which is treble the amount of any interest or other fees charged, plus all costs, to include a reasonable amount for attorney's fees.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.