Current as of January 01, 2020 | Updated by FindLaw Staff
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(a) Money a timber purchaser collects for harvested timber is trust money.
(b) A timber purchaser and each officer, director, partner, or agent of a timber purchaser are trustees of trust money.
(c) Each seller of standing timber is a beneficiary of trust money to the extent of the beneficiary's share of the purchase price for the timber.
Cite this article: FindLaw.com - Arkansas Code Title 15. Natural Resources and Economic Development § 15-32-602. Trust money - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-15-natural-resources-and-economic-development/ar-code-sect-15-32-602/
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