(a) An obligation or liability bearing interest at a rate in excess of six percent (6%) per year incurred by a service member in military service before his or her entry into state active military service may not bear interest at a rate in excess of six percent (6%) per year during any part of the period of military service unless, in the opinion of the court and upon application to the court by the obligee, the ability of the service member to pay interest on the obligation or liability at a rate in excess of six percent (6%) per year is not materially affected by reason of his or her service.
(b) The court may make any order in the action that, in its opinion, is just.
Structure Arkansas Code
Title 12 - Law Enforcement, Emergency Management, and Military Affairs
Chapter 62 - Military Personnel
Subchapter 7 - Arkansas Soldiers' and Airmen's Civil Relief Act
§ 12-62-705. Residential leases
§ 12-62-706. Reopening default judgments
§ 12-62-707. Stay of proceedings
§ 12-62-708. Fines and penalties on contracts
§ 12-62-709. Exercise of rights not to affect future financial transactions
§ 12-62-710. Stay of execution of judgment
§ 12-62-712. Statutes of limitations affected by military service
§ 12-62-713. Maximum rate of interest for state active military service
§ 12-62-714. Eviction or distress of dependents of state active military service members
§ 12-62-715. Installment contracts
§ 12-62-716. Mortgage foreclosures