§ 5-63-303 — Debt adjusting - Injunction against operation - Receivership

Arkansas § 5-63-303

• Jurisdiction: Arkansas
• Title: 5

Text

(a) In an action brought in the name of the state by a prosecuting attorney within his or her district or by the Attorney General, a circuit court has jurisdiction to enjoin any person from: (1) Acting, offering to act, or attempting to act as a debt adjuster; or (2) Engaging in the business of debt adjusting. (b) In an action under subsection (a) of this section, the circuit court may appoint a receiver for the property and money employed in the transaction of business by the person as a debt adjuster, to ensure, so far as may be possible, the return to debtors of so much of their money and property as has been received by the debt adjuster and has not been paid to the creditors of the debtors.

Legislative History

Acts 1967, No. 61, § 3; A.S.A. 1947, § 41-4159.