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2-17-411. Merchandiser to effect sale.
Arkansas Code — all titles (historical 2020) · legal_authorities
2-17-411. Merchandiser to effect sale.
(a) When the court approves the sale of stored grain, the Public Grain Warehouse Commissioner shall employ a merchandiser to effect the sale of those commodities.
(b) A person employed as a merchandiser must meet the following requirements:
(1) The person shall be experienced or knowledgeable in the operation of warehouses licensed under the Arkansas Public Grain Warehouse Law, § 2-17-201 et seq., and if the person has ever held a license issued under the Arkansas Public Grain Warehouse Law, § 2-17-201 et seq., the person shall never have had that license suspended or revoked;
(2) The person shall be experienced or knowledgeable in the marketing of agricultural products; and
(3) The person shall not be the holder of a warehouse receipt or scale ticket issued by the licensee and shall not have a claim against the licensee, whether as a secured or unsecured creditor, and otherwise shall not have any pecuniary interest in the licensee or the licensee's business.
(c)(1) The merchandiser shall be entitled to reasonable compensation as determined by the commissioner.
(2) A sale of grain shall be made in a commercially reasonable manner and under the supervision of the warehouse section of the commissioner.
(3) The commissioner shall have authority to sell the stored grain, notwithstanding provisions of the Uniform Commercial Code, § 4-1-101 et seq., and any stored grain so sold shall be free of all liens and other encumbrances.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 2-17-411
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:2-17-411
Source file: gov.ar.code.title.02.odt
Pages: Not recorded – Not recorded
Passage SHA-256: f1aab93b74eb74fee30486b71b1259322f487efda9de16367c6aace019449314
Source location: content.xml paragraph 4504
Stored source content
2-17-411. Merchandiser to effect sale.
(a) When the court approves the sale of stored grain, the Public Grain Warehouse Commissioner shall employ a merchandiser to effect the sale of those commodities.
(b) A person employed as a merchandiser must meet the following requirements:
(1) The person shall be experienced or knowledgeable in the operation of warehouses licensed under the Arkansas Public Grain Warehouse Law, § 2-17-201 et seq., and if the person has ever held a license issued under the Arkansas Public Grain Warehouse Law, § 2-17-201 et seq., the person shall never have had that license suspended or revoked;
(2) The person shall be experienced or knowledgeable in the marketing of agricultural products; and
(3) The person shall not be the holder of a warehouse receipt or scale ticket issued by the licensee and shall not have a claim against the licensee, whether as a secured or unsecured creditor, and otherwise shall not have any pecuniary interest in the licensee or the licensee's business.
(c)(1) The merchandiser shall be entitled to reasonable compensation as determined by the commissioner.
(2) A sale of grain shall be made in a commercially reasonable manner and under the supervision of the warehouse section of the commissioner.
(3) The commissioner shall have authority to sell the stored grain, notwithstanding provisions of the Uniform Commercial Code, § 4-1-101 et seq., and any stored grain so sold shall be free of all liens and other encumbrances.
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Arkansas Code — all titles (historical 2020) · legal_authorities
2-17-201. Title.
This subchapter shall be known as the “Arkansas Public Grain Warehouse Law”.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 2-17-201
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 2-17-201. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-1-101. Short titles.
(a) This subtitle may be cited as the Uniform Commercial Code.
(b) This chapter may be cited as Uniform Commercial Code — General Provisions.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-1-101
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 4-1-101. This identifies an authority to review, not proof of applicability.