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18-16-408. Disposition of sale proceeds.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-16-408. Disposition of sale proceeds.
(a) 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.
(b) If a sale is held under this subchapter, the operator shall:
(1) Satisfy the lien from the proceeds of the sale; and
(2) 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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-16-408
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:18-16-408
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f09e056629c597f60a78ce7bae254fa1ea629add2bcc155f31fce68275d2f95f
Source location: content.xml paragraph 5635
Stored source content
18-16-408. Disposition of sale proceeds.
(a) 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.
(b) If a sale is held under this subchapter, the operator shall:
(1) Satisfy the lien from the proceeds of the sale; and
(2) 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.
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