Ark. Code § 4-56-101

Current with legislation from 2024 effective through May 3, 2024.
Section 4-56-101 - Attorney's fees
(a) A provision in a promissory note for the payment of reasonable attorney's fees, not to exceed ten percent (10%) of the amount of principal due, plus accrued interest, for services actually rendered in accordance with its terms is enforceable as a contract of indemnity.
(b) This section shall apply only to notes executed from and after June 7, 1951.

Ark. Code § 4-56-101

Acts 1951, No. 350, §§ 1, 2; A.S.A. 1947, §§ 68-910, 68-910n.