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Arkansas Code of 1987 (2023)
Title 18 - PROPERTY (§§ 18-1-101 — 18-61-106)
Subtitle 2 - REAL PROPERTY (§§ 18-11-101 — 18-17-913)
Chapter 16 - LANDLORD AND TENANT (§§ 18-16-101 — 18-16-509)
Subchapter 4 - SELF-SERVICE STORAGE FACILITIES (§§ 18-16-401 — 18-16-413)
Section 18-16-408 - Disposition of sale proceeds
Universal Citation:
AR Code § 18-16-408 (2023)
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- (a) Proceeds from the sale shall be applied to satisfy the lien, and any surplus shall be disbursed as provided in subsection (b) of this section.
- (b) If a sale is held under this subchapter, the operator shall:
- (1) Satisfy the lien from the proceeds of the sale; and
- (2) Hold the balance, if any, for delivery on demand to the occupant or any other recorded lienholders. If demand is not made within two (2) years after the date of the sale, the surplus shall escheat to the county.
Acts 1987, No. 576, § 4.
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