Any foreign party shall have the right to make loans of money and to take and accept mortgages or other security interests upon agricultural land in Arkansas to secure the payment of loans. The foreign party may acquire fee ownership of the land upon a foreclosure or other legal enforcement of the security interest, provided the foreign party acquiring ownership registers the ownership as required in this chapter.
Ark. Code Ann. § 2-3-104
Right to security interests
Known as the Arkansas Agricultural Foreign Investment Act
The act spans §§ 2–2 (10 sections).
Acts 1979, No. 1096, § 4; A.S.A. 1947, § 77-2204.
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.