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23-49-112. Rejection of contracts and leases.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-49-112. Rejection of contracts and leases.
(a) Within one hundred eighty (180) days after the date that the Bank Commissioner has taken possession, the receiver may, at his or her election, reject:
(1) Any executory contracts to which the closed institution is a party without any further liability to the closed institution or the receiver; and
(2) Any obligation of the institution as a lessee of real or personal property.
(b) The receiver's election to reject a lease shall create no claim for rent other than rent accrued to the date of termination.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-49-112
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:23-49-112
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: aab38d1934e90baba54e86cab6e5f7528f71e9fcb61fdf419808bfd309d396f7
Source location: content.xml paragraph 24865
Stored source content
23-49-112. Rejection of contracts and leases.
(a) Within one hundred eighty (180) days after the date that the Bank Commissioner has taken possession, the receiver may, at his or her election, reject:
(1) Any executory contracts to which the closed institution is a party without any further liability to the closed institution or the receiver; and
(2) Any obligation of the institution as a lessee of real or personal property.
(b) The receiver's election to reject a lease shall create no claim for rent other than rent accrued to the date of termination.
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