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Arkansas Code Title 17. Professions, Occupations, and Businesses § 17-50-406. Sale of forfeited property

Current as of March 28, 2024 | Updated by Findlaw Staff

If a law enforcement agency desires to sell property forfeited to it under § 17-50-404, the law enforcement agency shall:

(1) Publish at least two (2) times a week for two (2) consecutive weeks in a newspaper having general circulation in the county notice of the sale, including the time, place, conditions of the sale, and a description of the property to be sold;

(2) Send a copy of the notice of the sale to each person having ownership of or a security interest in the property by certified mail, return receipt requested, or in the manner provided in Rule 4 of the Arkansas Rules of Civil Procedure if:

(A) The property is of a type for which title or registration is required by law;

(B) The owner of the property is known in fact to the law enforcement agency at the time of seizure; or

(C) The property is subject to a security interest perfected in accordance with the Uniform Commercial Code, § 4-1-101 et seq.; and

(3) Dispose of the property at public auction to the highest bidder for cash without appraisal.

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Cite this article: FindLaw.com - Arkansas Code Title 17. Professions, Occupations, and Businesses § 17-50-406. Sale of forfeited property - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-17-professions-occupations-and-businesses/ar-code-sect-17-50-406/

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