28-50-111. Payment of contingent claims by distributees — Contribution.

Arkansas Code — all titles (historical 2020) · legal_authorities

28-50-111. Payment of contingent claims by distributees — Contribution.

28-50-111. Payment of contingent claims by distributees — Contribution. (a) If a contingent claim shall have been presented and allowed against an estate and all the assets of the estate including the fund, if any, set apart for the payment thereof shall have been distributed, and the claim shall thereafter become absolute, then the creditor shall have the right to recover thereon in a court having equitable jurisdiction against those distributees whose distributive shares have been increased by reason of the fact that the amount of the claim as finally determined was not paid out prior to final distribution, provided an action therefor shall be commenced within the time permitted by law for bringing an action. (b) The distributees shall be jointly and severally liable, but no distributee shall be liable for an amount exceeding the value of the estate or fund so distributed to him or her. (c) If more than one (1) distributee is liable to the creditor, he or she shall make all distributees who can be reached by process parties to the action. (d)(1) By its judgment, the court shall determine the amount of the liability of each of the defendants as between themselves. (2) However, if any defendant is insolvent or unable to pay his or her proportion, or is beyond the reach of process, the others, to the extent of their respective liabilities, nevertheless shall be liable to the creditor for the whole amount of his or her debt. (3) If any person liable for the debt fails to pay his or her just proportion to the creditor, he or she shall be liable to indemnify all who, by reason of the failure on his or her part, have paid more than their just proportion of the debt, the indemnity to be recovered in the same action or in separate actions.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 28-50-111

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.