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Committee clears bill aligning bank lending-limit calculations with UCC
INSURANCE & COMMERCE - SENATE · January 24, 2019
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Summary
SB79, a cleanup bill to align Arkansas' legal lending-limit calculations with the Uniform Commercial Code so consumer and business loans are treated consistently, passed the Insurance & Commerce Committee by voice vote.
The Insurance & Commerce Committee approved Senate Bill 79, a cleanup measure that aligns the state’s legal lending-limit calculations with the Uniform Commercial Code (UCC). John Allen, deputy commissioner of the Arkansas State Bank Department, told the committee the change makes consumer and personal loans…
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