A creditor may establish the contracted interest rate for a credit card account by:(1) Documenting the acceptance of the terms and conditions that contain a stated or variable interest rate by a cardholder of the credit card account; or(2) Any billing statement generated by the credit card issuer that contains a stated or variable interest rate.Added by Act 2013, No. 1495,§ 2, eff. 8/16/2013.
Arkansas Legal Code