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

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The Arkansas Legislative Control of Interest Rates Proposed Amendment, also known as Proposed Amendment 60, was on the ballot in Arkansas on November 4, 1980, as an initiated constitutional amendment. It was defeated. The measure would have authorized the general assembly to limit maximum interest rates at 10 percent, unless approved by a two-thirds vote of the legislature.[1][2]

Election results

Arkansas Proposed Amendment 60 (1980)
ResultVotesPercentage
Defeatedd No416,15555.99%
Yes327,17244.01%

Election results via: Arkansas Secretary of State

Text of measure

The question on the ballot:

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.[2][3]

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External links

Footnotes

  1. ↑ Arkansas Secretary of State, "Initiatives and Amendments 1938-2010," accessed August 26, 2015
  2. ↑ 2.0 2.1 Inter-university Consortium for Political and Social Research, "Referenda Elections for Arkansas," accessed August 26, 2015
  3. ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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