Arkansas § 12-62-715 - Installment contracts.
Full text of Arkansas Arkansas Code of 1987 Annotated § 12-62-715 — Installment contracts., with citation guidance and answers to common questions.
§ 12-62-715. Installment contracts.
The creditor of a service member who, before entry into military service, has entered into an installment contract for the purchase of real or personal property shall not terminate the contract or repossess the property for nonpayment or any breach occurring during military service without an order from a court of competent jurisdiction. The court, upon application to it under this section, unless the court finds on the record that the ability of the service member to comply with the terms of the contract is not materially affected by reason of his or her military service, may: Order repayment of any prior installments or deposits as a condition of terminating the contract and resuming possession of the property; Order a stay of the proceedings on its own motion or on a motion by the service member or another person on his or her behalf; or Make any other disposition of the case it considers to be equitable to conserve the interests of all parties. Any person who knowingly repossesses property that is the subject of this section other than as provided in subsection (a) of this section is guilty of an unclassified misdemeanor.
Frequently Asked Questions About Arkansas § 12-62-715
What does Arkansas Code of 1987 Annotated § 12-62-715 cover?
Section 12-62-715 ("Installment contracts.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 12-62-715?
A common citation format is "Arkansas Code of 1987 Annotated § 12-62-715" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 12-62-715 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.