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Ark. Code Ann. § 18-16-408

Disposition of sale proceeds

Acts 1987, No. 576, § 4.

(1) Proceeds from the sale shall be applied to satisfy the lien, and any surplus shall be disbursed as provided in subsection (b) of this section.

(2) If a sale is held under this subchapter, the operator shall: Satisfy the lien from the proceeds of the sale; and

(3) Hold the balance, if any, for delivery on demand to the occupant or any other recorded lienholders. If demand is not made within two (2) years after the date of the sale, the surplus shall escheat to the county.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.