On March 7^th, 2005, a bill was sponsored by State Senator Sue Madison of Fayetteville, AR (SB1016), which would, if passed into law, drastically change the original rental purchase bill which was signed into law back in 1987. Specific concerns about this bill include “price controls” which would affect both “Fair Market Values” or cash prices and also the total cost of a rental agreement. As my old boss, Charles Cloud, told me just a few short weeks a, our original law is a od one and is fair to both consumers and dealers, and was written to withstand the test of time. With SB1016 now on the table, the original law is now being threatened; therefore we are asking for YOUR help!

After several active ARDA members met with Senator Madison on March 9^th to share our concerns over SB1016, she agreed not to pursue the bill further without letting us know. However, she did not promise to withdraw her bill. In effect, this gave us time to enact our strategy to get this adverse bill defeated, most importantly of which is to hire a well-known lobbyist to represent rental purchase dealers in Arkansas.

For more information and updates regarding SB1016 please call our office at 870-910-0059.