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28-50-110. Contingent claims.
Arkansas Code — all titles (historical 2020) · legal_authorities
28-50-110. Contingent claims.
(a)(1) Contingent claims which cannot be allowed as absolute debts may, nevertheless, be filed in the court and proved.
(2) If allowed as a contingent claim, the order of allowance shall state the nature of the contingency.
(3) If the claim becomes absolute before distribution of the estate, it shall be paid in the same manner as absolute claims of the same class.
(4) In all other cases, the court may order the personal representative to make distribution of the estate, but to retain in his or her hands sufficient funds to pay the claim if and when the claim becomes absolute. However, for this purpose, the estate shall not be kept open longer than two (2) years after distribution of the remainder of the estate has been made. Prior to or at the expiration of the two-year period, if the claim has not become absolute, the court may order distribution of the funds so retained, after paying any costs and expenses accruing during the period, and the distributees shall be liable to the creditor to the extent of the estate received by them, if the contingent claim thereafter becomes absolute. When distribution is so made, the court may require the distributees to give bond with security for the satisfaction of their liability to the contingent creditor.
(b) A contingent claim which becomes absolute six (6) months or more prior to the order of final distribution shall be presented for allowance within six (6) months after becoming absolute. When allowed, the claim shall be deemed an absolute claim as against assets which have not been distributed or distribution of which has not been approved and shall be entitled to the benefit of the provisions of subsection (c) of this section as to assets which do not remain in the hands or subject to
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-50-110
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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Stable record: arkansas_code:legal_authorities:28-50-110
Source file: gov.ar.code.title.28.odt
Pages: Not recorded – Not recorded
Passage SHA-256: a68ad82f9505ba1ee2f484518a81d2d89d22b4fb2c9bd25dda73756415b4e0ed
Source location: content.xml paragraph 6544
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28-50-110. Contingent claims.
(a)(1) Contingent claims which cannot be allowed as absolute debts may, nevertheless, be filed in the court and proved.
(2) If allowed as a contingent claim, the order of allowance shall state the nature of the contingency.
(3) If the claim becomes absolute before distribution of the estate, it shall be paid in the same manner as absolute claims of the same class.
(4) In all other cases, the court may order the personal representative to make distribution of the estate, but to retain in his or her hands sufficient funds to pay the claim if and when the claim becomes absolute. However, for this purpose, the estate shall not be kept open longer than two (2) years after distribution of the remainder of the estate has been made. Prior to or at the expiration of the two-year period, if the claim has not become absolute, the court may order distribution of the funds so retained, after paying any costs and expenses accruing during the period, and the distributees shall be liable to the creditor to the extent of the estate received by them, if the contingent claim thereafter becomes absolute. When distribution is so made, the court may require the distributees to give bond with security for the satisfaction of their liability to the contingent creditor.
(b) A contingent claim which becomes absolute six (6) months or more prior to the order of final distribution shall be presented for allowance within six (6) months after becoming absolute. When allowed, the claim shall be deemed an absolute claim as against assets which have not been distributed or distribution of which has not been approved and shall be entitled to the benefit of the provisions of subsection (c) of this section as to assets which do not remain in the hands or subject to the control of the personal representative.
(c) Contingent claims not presented within the time prescribed by § 28-50-101 or subsection (b) of this section shall be barred as against the estate, but, within the time permitted by law for bringing actions thereon, may be enforced against distributees of the estate to the extent of the assets of the estate or the proceeds thereof remaining in the hands of the distributees.
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Arkansas Code — all titles (historical 2020) · legal_authorities
28-50-101. Limitations on filing of claims.
(a)Statute of Nonclaim.
(1) Except as provided in §§ 28-50-102 and 28-50-110, all claims against a decedent's estate, other than expenses of administration and claims of the United States which, under valid laws of the United States, are not barrable by a statute of nonclaim, but including claims of a state or territory of the United States and any subdivision thereof, whether due or to become due, absolute or contingent, liquidated or unliquidated, founded on contract or otherwise, shall be forever barred as against the estate, the personal representative, or the heirs and devisees of the decedent, unless verified to the personal representative or filed with the court within six (6) months after the date of the first publication of notice to creditors.
(2) All claims for injury or death caused by the negligence of the decedent shall also be filed within six (6) months from the date of first publication of the notice, or they shall be forever barred and precluded from any benefit in the estate.
(b) Statute of Limitations. No claim shall be allowed which was barred by any statute of limitations at the time of the decedent's death.
(c) When Statute of Nonclaim Not Affected by Statute of Limitations. No claim shall be barred by the statute of limitations which was not barred thereby at the time of the decedent's death, if the claim shall be presented to the personal representative or filed with the court within six (6) months after the date of the first publication of notice to creditors.
(d) Claims Barred When No Administration Commenced or No Notice Published. In any event, all claims barrable under the provision of subsection (a) of this section shall be barred at the end of five (5) years after the date of the d
Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-50-101
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 28-50-101. This identifies an authority to review, not proof of applicability.