Arkansas Legislative Control of Interest Rates, Proposed Amendment 60 (1980)

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The Arkansas Legislative Control of Interest Rates Amendment, also known as Proposed Amendment 60, appeared as an initiated constitutional amendment in Arkansas where it was defeated on the November 4, 1980 ballot.[1]

This amendment would have authorized the Arkansas General Assembly to control maximum interest rates with a two-thirds vote.

Election results

Proposed Amendment 60 (1980)
ResultVotesPercentage
Defeatedd No416,15555.99%
Yes 327,172 44.01%

Official results via: Arkansas Secretary of State

Text of measure

The language appeared on the ballot as:[2]

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.[3]

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References

  1. Arkansas Secretary of State, "Initiatives and Amendments 1938-2010"
  2. Inter-university Consortium for Political and Social Research. REFERENDA AND PRIMARY ELECTION MATERIALS [Computer file]. ICPSR ed. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [producer and distributor], 1995. doi:10.3886/ICPSR00006.v1
  3. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.