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Ark. Code Ann. § 23-32-305

Exemption from posting bond in certain transactions

Acts 1997, No. 84, § 5.

(1) Except when the dollar amount of responsibility assumed exceeds its net capital and surplus, no state or federal savings and loan association, chartered or licensed to do business in this state, shall be required to furnish fidelity, surety, or performance bond, called “bond” in this subchapter, in business transactions involving: Garnishment;

(2) Replevin;

(3) Foreclosure; and

(4) Forcible entry and detainer.

(5) At the beginning of any proceeding in all such business transactions, the state or federal savings and loan association shall, upon request, furnish to each party to the transaction a copy of its most recent statement of financial condition.

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.