Ark. Code Ann. § 16-117-203

In all cases where it is necessary or proper for a receiver to collect debts by suit, he or she may sue in his or her own name, but all moneys collected by the receiver shall be accounted for and paid into court or be subject to the order of the court. The receiver shall have power to employ attorneys and make to them a reasonable allowance for services. The attorneys shall be paid out of the funds collected by the receiver.