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2-17-403. Plan for disposition of grain.
Arkansas Code — all titles (historical 2020) · legal_authorities
2-17-403. Plan for disposition of grain.
(a) A petition filed by the Public Grain Warehouse Commissioner under § 2-17-402 shall be accompanied by the commissioner's plan for disposition of stored grain.
(b)(1) The plan may provide for the pro rata delivery of part or all of the stored grain to depositors holding warehouse receipts or unpriced scale tickets;
(2) The plan may provide for the sale under the supervision of the commissioner of part or all of the stored grain for the benefit of those depositors; or
(3) The plan may provide for any combination thereof, as the commissioner in his or her discretion determines to be necessary to minimize losses.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 2-17-403
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:2-17-403
Source file: gov.ar.code.title.02.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 3d77417b792eeb427004d92baf8fbaef18bfebce85125632aef2bee5529b15ad
Source location: content.xml paragraph 4446
Stored source content
2-17-403. Plan for disposition of grain.
(a) A petition filed by the Public Grain Warehouse Commissioner under § 2-17-402 shall be accompanied by the commissioner's plan for disposition of stored grain.
(b)(1) The plan may provide for the pro rata delivery of part or all of the stored grain to depositors holding warehouse receipts or unpriced scale tickets;
(2) The plan may provide for the sale under the supervision of the commissioner of part or all of the stored grain for the benefit of those depositors; or
(3) The plan may provide for any combination thereof, as the commissioner in his or her discretion determines to be necessary to minimize losses.
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Arkansas Code — all titles (historical 2020) · legal_authorities
2-17-402. Filing of petition.
(a)(1) Following summary suspension of a license under § 2-17-215 or following a suspension or revocation of a license as otherwise provided in § 2-17-201 et seq., the Public Grain Warehouse Commissioner in his or her discretion may file a verified petition in the proper court requesting that the commissioner be appointed as a receiver to take custody of grain stored in the licensee's warehouse and to provide for the disposition of those assets in the manner provided in this subchapter and under the supervision of the court.
(2) The petition shall be filed in the county in which the warehouse is located.
(3) The proper court shall appoint the commissioner as receiver.
(b) Upon the filing of the petition, the court shall issue ex parte such temporary orders as may be necessary to preserve or protect the assets in receivership, or the value thereof, and the rights of depositors, until a plan of disposition is approved.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 2-17-402
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 2-17-402. This identifies an authority to review, not proof of applicability.