Vote button trans.png
April's Project of the Month
It's spring time. It's primary election season!
Click here to find all the information you'll need to cast your ballot.




Arkansas Legislative Authorization to Control Interest Rates, Proposed Amendment 57 (1974)

From Ballotpedia
Jump to: navigation, search
Voting on
Business Regulation
Business regulation.jpg
Ballot Measures
By state
By year
Not on ballot
Arkansas Constitution
Seal of Arkansas.svg.png
Preamble
Articles
1234567891011121314151617181920ScheduleProclamation
Amendments
The Arkansas Legislative Authorization to Control Interest Rates Amendment, also known as Proposed Amendment 57, appeared as an initiated constitutional amendment in Arkansas where it was defeated on the ballot on November 5, 1974.[1]

This amendment would have allowed the Arkansas General Assembly to control maximum interest rates.

Election results

Proposed Amendment 57 (1974)
ResultVotesPercentage
Defeatedd No426,19786.43%
Yes 66,905 13.57%

Official results via: Arkansas Secretary of State

Text of measure

The language appeared on the ballot as:[2]

This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.

AN AMENDMENT TO AUTHORIZE THE GENERAL ASSEMBLY TO FIX MAXIMUM LAWFUL RATES OF INTEREST BY AMENDING SECTION 15 OF ARTICLE XIX OF THE ARKANSAS CONSTITUTION OF 1874 SO THAT AS AMENDED SECTION 13 WILL PROVIDE THAT THE MAXIMUM LAWFUL RATE OF INTEREST, EXCEPT WHEN THE GENERAL ASSEMBLY SHALL OTHERWISE PROVIDE, SHALL BE TEN PERCENT PER ANNUM; THAT ALL CONTRACTS FOR AN UNLAWFUL RATE OF INTEREST SHALL BE VOID AS TO PRINCIPAL AND INTEREST; AND THAT WHEN NO RATE OF INTEREST IS AGREED UPON THE RATE SHALL BE SIX PERCENT PER ANNUM.

See also

BallotpediaAvatar bigger.png
Suggest a link

External links

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