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27-19-617. Disposition of security.
Arkansas Code — all titles (historical 2020) · legal_authorities
27-19-617. Disposition of security.
(a) Security provided under this subchapter shall be applicable and available only for:
(1) The payment of any settlement agreement covering any claim arising out of the accident upon instruction of the person who made the deposit; or
(2) The payment of a judgment rendered against the person required to make the deposit for damages arising out of the accident in an action at law begun not later than one (1) year after the deposit of the security, or within one (1) year after the date of deposit of any security following failure to make payments under an agreement to pay.
(b) Every distribution of funds from the security deposits shall be subject to the limits of the amounts required under this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 27-19-617
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:27-19-617
Source file: gov.ar.code.title.27.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a73031bf7a2ff6664853c6ded2f0eb66aaf6fadb40a256b5fad2bc22a54403ef
Source location: content.xml paragraph 8549
Stored source content
27-19-617. Disposition of security.
(a) Security provided under this subchapter shall be applicable and available only for:
(1) The payment of any settlement agreement covering any claim arising out of the accident upon instruction of the person who made the deposit; or
(2) The payment of a judgment rendered against the person required to make the deposit for damages arising out of the accident in an action at law begun not later than one (1) year after the deposit of the security, or within one (1) year after the date of deposit of any security following failure to make payments under an agreement to pay.
(b) Every distribution of funds from the security deposits shall be subject to the limits of the amounts required under this subchapter.
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