Arkansas § 2-3-111 Reporting requirement

Arkansas Statutes

§ 2-3-111 — Reporting requirement

Arkansas § 2-3-111

Title2

This text of Arkansas § 2-3-111 (Reporting requirement) 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. § 2-3-111 (2026).

Text

(a)Beginning October 1, 2021, a foreign person required to make a report to the United States Department of Agriculture under the Agricultural Foreign Investment Disclosure Act, 7 U.S.C. § 3501 et seq., shall also file a copy of the required report with the Secretary of the Department of Agriculture within the time period required under the federal law.

(b)The Attorney General:

(1)Shall impose a civil penalty not to exceed twenty-five percent (25%) of the fair market value, on the date of the assessment of the penalty, of the interest in the agricultural land for failure to file a copy of the report with the Secretary of the Department of Agriculture as required under subsection (a) of this section; and (2) May bring an action to collect the civil penalty in the Pulaski County Circuit C

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(a) Beginning October 1, 2021, a foreign person required to make a report to the United States Department of Agriculture under the Agricultural Foreign Investment Disclosure Act, 7 U.S.C. § 3501 et seq., shall also file a copy of the required report with the Secretary of the Department of Agriculture within the time period required under the federal law. (b) The Attorney General: (1) Shall impose a civil penalty not to exceed twenty-five percent (25%) of the fair market value, on the date of the assessment of the penalty, of the interest in the agricultural land for failure to file a copy of the report with the Secretary of the Department of Agriculture as required under subsection (a) of this section; and (2) May bring an action to collect the civil penalty in the Pulaski County Circuit Court or in the circuit court of any county in which any portion of the agricultural land acquired is located. (c) Sections 2-3-101 - 2-3-110 are suspended while the Agricultural Foreign Investment Disclosure Act, 7 U.S.C. § 3501 et seq., is in effect. (d) This section shall expire upon the repeal of the Agricultural Foreign Investment Disclosure Act, 7 U.S.C. § 3501 et seq.