Arkansas
For Arkansas, statute citation is Ark. Code Ann. §§ 23-52-201 through 23-52-204 (Act 347 of 2025, HB 1517); product classification is not a loan; not money transmission; not debt collection; free option required is yes — provider shall offer to a consumer at least one reasonable option to obtain proceeds at no cost to the consumer; late fees prohibited is yes — provider shall not charge a consumer a late fee, deferral fee, interest, or any other penalty or charge for failure to pay outstanding proceeds; collection limits is provider shall not compel payment by civil suit, third-party collector, or sale to debt buyer, recorded from its source on 2026-08-18.
- state
- Arkansas verified
- statute citation
- Ark. Code Ann. §§ 23-52-201 through 23-52-204 (Act 347 of 2025, HB 1517) our reading
- product classification
- not a loan; not money transmission; not debt collection verified
- free option required
- yes — provider shall offer to a consumer at least one reasonable option to obtain proceeds at no cost to the consumer verified
- late fees prohibited
- yes — provider shall not charge a consumer a late fee, deferral fee, interest, or any other penalty or charge for failure to pay outstanding proceeds verified
- collection limits
- provider shall not compel payment by civil suit, third-party collector, or sale to debt buyer verified
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
What the source says
not be deemed to be engaging in lending, money 31 transmission, or debt collection in this state, or in violation of the laws 32 of this state governing the sale of, assignment of, or an order for earned 33 but unpaid income, if the provider: 34 (1) Complies with the requirements of this section
— arkleg.state.ar.us, retrieved 2026-08-18
Source
- arkleg.state.ar.ushttps://arkleg.state.ar.us/Home/FTPDocument?path=%2FBills%2F2025R%2FPublic%2FHB1517%2FHB1517030620251338.pdf