Arkansas Statutes
§ 2-6-116 — Receivership - Sureties
Arkansas·Title 2
When the Secretary of the Department of Agriculture or his or her designee is appointed as receiver under this chapter, the surety on the bond of the Class A registrant shall be joined as a party defendant by the secretary. If required by the court, the surety shall pay the bond proceeds, or so much thereof as the court finds necessary, into the court, and when so paid the surety shall be absolutely discharged from any further liability under the bond to the extent of the payment.
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Legislative History
Amended by Act 2023, No. 588,§ 16, eff. 8/1/2023. Acts 1989 (3rd Ex. Sess.), No. 53, § 7.
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Prohibited activities