Ark. Code Ann. § 16-110-305

In all cases where the proceedings are instituted against the boat or vessel by its name or description only, the bond to be given by the plaintiff shall be made payable to the State of Arkansas, for the use and benefit of the owners of the boat or vessel. The owners may institute a suit thereon, if damages are occasioned by the issuing of the attachment wrongfully, and have recovery thereon in the same manner as if the bond had been given to the person in his or her proper name, or in the name and style of the partnership.