The Arkansas Legislative Control of Interest Rates Amendment
, also known as Proposed Amendment 60
, appeared as an initiated constitutional amendment
where it was defeated
on the November 4, 1980
This amendment would have authorized the Arkansas General Assembly to control maximum interest rates with a two-thirds vote.
| Proposed Amendment 60 (1980)|
|Yes|| 327,172|| 44.01%|
Official results via: Arkansas Secretary of State
Text of measure
The language appeared on the ballot as:
|| An amendment to Article XIX, Section 13 of the 1874 Constitution to provide that the maximum rate of interest shall not exceed 10 percent except by law enacted by two-thirds vote of the General Assembly; to make it a crime knowingly to charge more than the maximum rate of interest and to allow persons paying more than the maximum to recover twice the amount of interest paid.