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2-24-110. Receivership.
Arkansas Code — all titles (historical 2020) · legal_authorities
2-24-110. Receivership.
(a) Following the suspension of a dealer's license under this chapter, the State Plant Board may file a verified petition in a court of competent jurisdiction requesting the appointment of a receiver to take custody of the assets of the dealer and provide for the disposition of the assets under the supervision of the court.
(b) A petition for the appointment of a receiver shall be filed in the county in which the dealer is located.
(c) Upon receiving a petition for the appointment of a receiver under this section, a court may issue any temporary orders necessary to preserve or protect the assets in receivership, the value of the assets in receivership, and the rights of the dealer's creditors until a plan of disposition is approved.
(d) The board may be appointed as receiver in an action brought under this section.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 2-24-110
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:2-24-110
Source file: gov.ar.code.title.02.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 76775dbc3ef929ea0bf0775a1e425e20cec335101aeccd968ddf5b2c5c788d6f
Source location: content.xml paragraph 6523
Stored source content
2-24-110. Receivership.
(a) Following the suspension of a dealer's license under this chapter, the State Plant Board may file a verified petition in a court of competent jurisdiction requesting the appointment of a receiver to take custody of the assets of the dealer and provide for the disposition of the assets under the supervision of the court.
(b) A petition for the appointment of a receiver shall be filed in the county in which the dealer is located.
(c) Upon receiving a petition for the appointment of a receiver under this section, a court may issue any temporary orders necessary to preserve or protect the assets in receivership, the value of the assets in receivership, and the rights of the dealer's creditors until a plan of disposition is approved.
(d) The board may be appointed as receiver in an action brought under this section.
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