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Current as of March 28, 2024 | Updated by Findlaw Staff
(a) In connection with a secured indebtedness of twenty thousand dollars ($20,000) or more, no proceeding against a farmer shall be commenced to foreclose a mortgage on agricultural property, to terminate a contract for deed to purchase agricultural property, to repossess or foreclose a security interest in agricultural property, to set off or seize an account, moneys, or other asset which is agricultural property, or to enforce any judgment against agricultural property unless the creditor has first obtained a release as provided in this chapter.
(b) An action for attachment or replevin may be commenced without first obtaining a release in those cases provided for under § 16-110-101(1)(A)(vi)-(viii) or § 18-60-807.
Cite this article: FindLaw.com - Arkansas Code Title 2. Agriculture § 2-7-302. Commencement of proceedings--Release - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-2-agriculture/ar-code-sect-2-7-302/
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 before relying on it for your legal needs.
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