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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) A lease executed by a receiver, when acknowledged and delivered, shall be binding on all parties subject only to approval or rejection by the court as herein provided.
(b) Not later than thirty (30) days after making the lease, the receiver shall report the making of the lease to the court. If it shall appear to the court that the consideration for the lease was fair and equitable at the time the consideration was made, the court shall approve the consideration and the lease shall be binding as though executed by the various owners and their spouses.
Cite this article: FindLaw.com - Arkansas Code Title 15. Natural Resources and Economic Development § 15-56-306. Execution of lease - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-15-natural-resources-and-economic-development/ar-code-sect-15-56-306/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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