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18-45-304. Selling of property kept by lienholder.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-45-304. Selling of property kept by lienholder.
(a)(1) The sale shall not take place until the expiration of ninety (90) days from the time the work is completed.
(2) If the debt is not paid at the end of that time, it shall be the duty of the lienholder, not less than ten (10) days before making the sale, to address a letter by registered mail to the last known place of address of the owner of the property or the person who ordered the property repaired.
(3) In addition, the lienholder shall give notice of the time and place and terms of sale in the same manner as now provided by law for the giving of notice for sale of property under labor liens.
(b)(1) The property may then be sold at public auction for cash to the highest and best bidder. The lienholder shall have the right to bid not less than the amount of his or her debt.
(2) If the property sells for more than the amount of the debt, the lienholder shall be liable for, and shall pay, any surplus to the person entitled thereto, after deducting the amount of his or her debt and the actual costs of the sale.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-45-304
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:18-45-304
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 48e310ab43d27d1fbed7cffcd5e0d44ec6dc4163d71286fba0c5a17595eb011c
Source location: content.xml paragraph 9885
Stored source content
18-45-304. Selling of property kept by lienholder.
(a)(1) The sale shall not take place until the expiration of ninety (90) days from the time the work is completed.
(2) If the debt is not paid at the end of that time, it shall be the duty of the lienholder, not less than ten (10) days before making the sale, to address a letter by registered mail to the last known place of address of the owner of the property or the person who ordered the property repaired.
(3) In addition, the lienholder shall give notice of the time and place and terms of sale in the same manner as now provided by law for the giving of notice for sale of property under labor liens.
(b)(1) The property may then be sold at public auction for cash to the highest and best bidder. The lienholder shall have the right to bid not less than the amount of his or her debt.
(2) If the property sells for more than the amount of the debt, the lienholder shall be liable for, and shall pay, any surplus to the person entitled thereto, after deducting the amount of his or her debt and the actual costs of the sale.
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