{"data":{"id":"us-ar/ark.-code-ann.-4-90-701","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-90-701","heading":"Definition","body":"As used in this subchapter, \"debt cancellation agreement\" means a loan term or contractual arrangement modifying a loan term dealing with motor vehicles under which a lender agrees to cancel all or part of a borrower's obligation to repay an extension of credit from the lender upon the occurrence of a specified event other than the death or disability of the borrower, whether or not separate from or a part of other loan documents. Provided, however, for purposes of this subchapter only, the term \"debt cancellation agreement\" shall not include that form of debt cancellation agreement which constitutes a guaranteed automobile protection waiver agreement or \"GAP\" waiver agreement. A guaranteed automobile protection waiver agreement or \"GAP\" waiver agreement means a loan term or a contractual arrangement modifying a loan term dealing with motor vehicles under which a lender agrees to waive, cancel, pay, or satisfy any remaining balance owed on a loan after a total loss or theft of the vehicle.","path":["AR Code","Title 4","Chapter 90","Subchapter 7"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"9a037312db1a6befffe3d850a9f894bcef0d3fe7803e4ff4ee465d593ce6e704","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-90-512","next":"us-ar/ark.-code-ann.-4-90-702"},"notice":"GroundRules: Original legal text. Not legal advice."}