(a)A prohibited foreign party who is a resident alien of the United States shall have the right to acquire and hold agricultural land in the state upon the same terms as a citizen of the United States during the continuance of his or her residence in the State of Arkansas.
(b)(1) If a prohibited foreign party is no longer a resident alien under subsection (a) of this section, he or she shall have two (2) years to divest of the agricultural land.
(2)If the prohibited foreign party does not divest of the agricultural land as required by subdivision (b)(1) of this section, the Attorney General shall commence an action in circuit court within the jurisdiction of the agricultural land.
(3)If the agricultural land is held in violation of this section, the circuit court shall order that the a
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(a) A prohibited foreign party who is a resident alien of the United States shall have the right to acquire and hold agricultural land in the state upon the same terms as a citizen of the United States during the continuance of his or her residence in the State of Arkansas. (b) (1) If a prohibited foreign party is no longer a resident alien under subsection (a) of this section, he or she shall have two (2) years to divest of the agricultural land. (2) If the prohibited foreign party does not divest of the agricultural land as required by subdivision (b)(1) of this section, the Attorney General shall commence an action in circuit court within the jurisdiction of the agricultural land. (3) If the agricultural land is held in violation of this section, the circuit court shall order that the agricultural land be sold through judicial foreclosure. (c) (1) When the Office of Agricultural Intelligence determines a prohibited foreign party has acquired agricultural land in Arkansas in violation of this subchapter, the office shall report the violation to the Attorney General. (2) Upon receiving notice under subdivision (c)(1) of this section or upon receipt of information that leads the Attorney General to believe that a violation of this subchapter may exist, the Attorney General may issue subpoenas requiring the: (A) Appearance of witnesses; (B) Production of relevant records; and (C) Giving of relevant testimony. (3) If as a result of the investigation under subdivision (c)(2) of this section the Attorney General concludes that a violation of this subchapter has occurred, the Attorney General shall commence an action in circuit court within the jurisdiction of the agricultural land. (4) If the agricultural land is held in violation of this subchapter, the circuit court shall order that the agricultural land be sold through judicial foreclosure. (d) (1) The proceeds of the sale of agricultural land by judicial foreclosure authorized under this section shall be disbursed to lien holders, in the order of priority, except for liens which under the terms of the sale are to remain on the agricultural land. (2) The Attorney General shall promptly record a copy of the following in the local land records: (A) Upon commencement, notice of the pendency of an action brought under subdivisions (b)(2) and (c)(3) of this section; and (B) The order for the sale of the agricultural land under subdivisions (b)(3) and (c)(4) of this section. (e) A prohibited foreign party owning agricultural land subsequent to the passage of this subchapter and not listed under one (1) of the exceptions set out in subsections (a) and (b) of this section shall upon conviction be guilty of a felony punishable by not more than two (2) years' imprisonment in the custody of the Division of Correction or a fine of fifteen thousand dollars ($15,000), or both. (f) It is an affirmative defense to prosecution under this section that a prohibited foreign party is a resident alien of the State of Arkansas. (g) Title to agricultural land is not invalid or subject to divestiture due to a violation of this subchapter by: (1) Any former owner; or (2) Another person holding or owning a former interest in the agricultural land. (h) No person not subject to this subchapter shall be required to determine or inquire into whether another person is or may be subject to this subchapter.