Arkansas Statutes

§ 14-121-1005 — Valid indebtedness unimpaired

Arkansas·Title 14
No dissolution of a district under the terms of this act shall impair or deny any creditor of the district the right to the collection of its bona fide and valid indebtedness existing against the district, but the creditors of the district shall be subject to the provisions of this act in connection with the presentation, allowance, or other adjudication with reference to their claim.

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Legislative History

Acts 1955, No. 116, § 5; A.S.A. 1947, § 21-561.5.

Nearby Sections

15
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