Stricken language would be deleted from and underlined language would be added to present law. Act 771 of the Regular Session *ANS470* 04-08-2025 10:54:58 ANS470 State of Arkansas As Engrossed: S4/7/25 S4/8/25 1 95th General Assembly A Bill 2 Regular Session, 2025 SENATE BILL 600 3 4 By: Senator C. Tucker 5 By: Representative Gazaway 6 7 For An Act To Be Entitled 8 AN ACT TO REGULATE CONTRACTS; TO MANDATE CONTRACTUAL 9 PROVISIONS FOR CERTAIN CONTRACTS; TO CLARIFY PROPER 10 JURISDICTION FOR CERTAIN CONTACTS; AND FOR OTHER 11 PURPOSES. 12 13 14 Subtitle 15 TO REGULATE CONTRACTS; TO MANDATE 16 CONTRACTUAL PROVISIONS FOR CERTAIN 17 CONTRACTS; AND TO CLARIFY PROPER 18 JURISDICTION FOR CERTAIN CONTACTS. 19 20 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 21 22 SECTION 1. Arkansas Code Title 4, Chapter 56, Subchapter 1, is amended 23 to add an additional section to read as follows: 24 4-56-108. Jurisdiction and venue requirements for certain contracts. 25 (a) Notwithstanding any contractual provision to the contrary, if an 26 Arkansas resident, while in this state, enters into a contract to purchase or 27 to finance a purchase of real or personal property in Arkansas in an amount 28 equal to or less than one hundred thousand dollars ($100,000), then: 29 (1) Arkansas law governs the transaction; and 30 (2) Any litigation pertaining to a contract described under this 31 section is subject to the jurisdiction of this state. 32 (b) This section only applies to personal property if the personal 33 property is used as a dwelling unit in Arkansas. 34 (c) As used in this section, "resident" means an individual only and 35 does not include a corporate entity. 36 As Engrossed: S4/7/25 S4/8/25 SB600 2 04-08-2025 10:54:58 ANS470 /s/C. Tucker 1 2 3 APPROVED: 4/17/25 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36