Arkansas § 18-45-205 Filing of notice and bond required

Arkansas Statutes

§ 18-45-205 — Filing of notice and bond required

Arkansas § 18-45-205

Title18

This text of Arkansas § 18-45-205 (Filing of notice and bond required) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 18-45-205 (2026).

Text

(a)The lienholder shall file with the circuit clerk in the county in which the lienholder is situated a notice under § 18-45-204 to be posted.

(b)(1) The lienholder shall:

(A)Determine the fair market value of the property to be sold; and (B) File a bond with the circuit clerk in the amount determined under subdivision (b)(1)(A) of this section.

(2)The bond shall be executed by one (1) or more sufficient sureties of the lienholder so that if the circuit court finds that the lienholder wrongfully enforced the lien provided by this subchapter, the surety shall pay to the debtor:

(A)Damages of up to the amount of the bond;

(B)Court costs; and (C) Any sums of money adjudged against the lienholder in an amount that does not exceed two (2) times the value of the property.

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(a) The lienholder shall file with the circuit clerk in the county in which the lienholder is situated a notice under § 18-45-204 to be posted. (b) (1) The lienholder shall: (A) Determine the fair market value of the property to be sold; and (B) File a bond with the circuit clerk in the amount determined under subdivision (b)(1)(A) of this section. (2) The bond shall be executed by one (1) or more sufficient sureties of the lienholder so that if the circuit court finds that the lienholder wrongfully enforced the lien provided by this subchapter, the surety shall pay to the debtor: (A) Damages of up to the amount of the bond; (B) Court costs; and (C) Any sums of money adjudged against the lienholder in an amount that does not exceed two (2) times the value of the property.

Legislative History

Amended by Act 2023, No. 388,§ 3, eff. 8/1/2023. Amended by Act 2017, No. 757,§ 7, eff. 8/1/2017. Amended by Act 2017, No. 299,§ 3, eff. 8/1/2017. Acts 1919, No. 140, § 5, p. 123; C. & M. Dig., § 6870; Pope's Dig., § 8826; A.S.A. 1947, § 51-408.