Arkansas - Page 1
Arkansas Code of 1987, as amended.
As added by Laws 1987, Act 490.
Sec. 4-92-101. Title.
This chapter shall be known and may be cited as the "Rental-Purchase Act."
Sec. 4-92-102. Definitions.
As used in this chapter, unless the context otherwise requires:
"Advertisement" means a commercial message in any medium that directly or
indirectly promotes or assists a rental-purchase agreement, except for in-store
"Consumer" means a person who leases personal property under a rental-
"Merchandise" means the personal property that is the subject of a rental-
"Lessor" means a person who, in the ordinary course of business, regularly
leases, offers to lease, or arranges for the leasing of merchandise under a
rental-purchase agreement and includes a person who is assigned an interest in
a rental-purchase agreement;
"Person" means an individual, corporation, partnership, organization, or any
"Reinstatement period" means the period or time specified in §4-92-106
during which a consumer may either pay delinquent rent or return
merchandise and thereby retain the right to have the rental-purchase
"Rental-purchase agreement" means an agreement for the use of merchandise
by a consumer for personal, family, household, or business purposes for an
initial period of four (4) months or less that is automatically renewable with
each payment after the initial period, but does not obligate or require the
consumer to continue leasing or using the merchandise after the initial period
and that permits the consumer to become the owner of the merchandise, but
does not obligate the consumer to purchase or become the owner of the
Sec. 4-92-103. Liability of Lessor.
A consumer damaged by a violation of this chapter by a lessor is entitled to recover