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2017 Arkansas Code
Title 2 - Agriculture
Subtitle 2 - Agronomy
Chapter 24 - Arkansas Grain Dealers Act
§ 2-24-110. Receivership
Universal Citation: AR Code § 2-24-110 (2017)
- (a) Following the suspension of a dealer's license under this chapter, the State Plant Board may file a verified petition in a court of competent jurisdiction requesting the appointment of a receiver to take custody of the assets of the dealer and provide for the disposition of the assets under the supervision of the court.
- (b) A petition for the appointment of a receiver shall be filed in the county in which the dealer is located.
- (c) Upon receiving a petition for the appointment of a receiver under this section, a court may issue any temporary orders necessary to preserve or protect the assets in receivership, the value of the assets in receivership, and the rights of the dealer's creditors until a plan of disposition is approved.
- (d) The board may be appointed as receiver in an action brought under this section.
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