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Ark. Code Ann. § 2-6-116

Receivership — Sureties

Known as the Arkansas Catfish Processor Fair Practices Act

The act spans §§ 2–2 (23 sections).

Acts 1989 (3rd Ex

When the Director of the State Plant Board is appointed as receiver under this chapter, the surety on the bond of the Class A registrant shall be joined as a party defendant by the director. If required by the court, the surety shall pay the bond proceeds, or so much thereof as the court finds necessary, into the court, and when so paid the surety shall be absolutely discharged from any further liability under the bond to the extent of the payment.

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.