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18-48-707. Disposition of sale proceeds.
Arkansas Code — all titles (historical 2020) · legal_authorities
18-48-707. Disposition of sale proceeds.
(a) Proceeds from the sale shall be paid, in order of priority:
(1) To satisfy all prior liens having priority over the marina operator's lien as set forth in § 18-48-702;
(2) To satisfy the marina operator's lien; and
(3) To the occupant or other person or persons entitled thereto.
(b) If a sale is held under this subchapter, the marina operator shall distribute the sale proceeds pursuant to subsection (a) of this section within ten (10) days following the sale.
(c) Any funds remaining in the possession of the marina operator, after the exhaustion of reasonable efforts to locate and distribute the funds to prior lienholders, the occupant or other persons entitled thereto, shall escheat to the county.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-48-707
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:18-48-707
Source file: gov.ar.code.title.18.odt
Pages: Not recorded – Not recorded
Passage SHA-256: cea01b33521ca0e8ad040cfed3aeee176bc7070e99b5316948f9988a996bfb28
Source location: content.xml paragraph 10701
Stored source content
18-48-707. Disposition of sale proceeds.
(a) Proceeds from the sale shall be paid, in order of priority:
(1) To satisfy all prior liens having priority over the marina operator's lien as set forth in § 18-48-702;
(2) To satisfy the marina operator's lien; and
(3) To the occupant or other person or persons entitled thereto.
(b) If a sale is held under this subchapter, the marina operator shall distribute the sale proceeds pursuant to subsection (a) of this section within ten (10) days following the sale.
(c) Any funds remaining in the possession of the marina operator, after the exhaustion of reasonable efforts to locate and distribute the funds to prior lienholders, the occupant or other persons entitled thereto, shall escheat to the county.
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Arkansas Code — all titles (historical 2020) · legal_authorities
18-48-702. Marina operator's lien on watercraft and stored property.
(a) The operator of a marina facility has a lien on all personal property stored within each leased space for rent, labor, or other charges and for expenses reasonably incurred in its sale, as provided in this subchapter.
(b) The lien provided for in this section attaches as of the date the lease or rental payment becomes delinquent and shall be superior to any other lien or security interest except the following:
(1) A lien which is perfected and recorded in Arkansas in the name of the occupant, either in the county of the occupant's last known address or in the county where the marina facility is located, prior to the date the lease or rental payment becomes delinquent;
(2) Any tax lien; and
(3) Any lienholder with a perfected security interest in the property.
(c) Nothing in this subchapter shall be construed to prohibit the occupant, operator, lienholder, or any other person or entity claiming an interest in the property stored in the leased space from applying to a court of competent jurisdiction to determine the validity of the lien or its priority.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 18-48-702
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. The source passage cites 18-48-702. This identifies an authority to review, not proof of applicability.