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Arkansas Code Title 2. Agriculture § 2-17-409. Surety as party

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

(a) When the Public Grain Warehouse Commissioner is appointed as receiver under this subchapter, the surety on the bond of the licensee shall be joined as a party defendant by the commissioner.

(b)(1) If required by the court, the surety shall pay the bond proceeds, or so much thereof as the court finds necessary, into the court.

(2) When so paid, the surety shall be absolutely discharged from any further liability under the bond to the extent of the payment.

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Cite this article: FindLaw.com - Arkansas Code Title 2. Agriculture § 2-17-409. Surety as party - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-2-agriculture/ar-code-sect-2-17-409/

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