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Current as of March 28, 2024 | Updated by FindLaw Staff
(a) Except when the dollar amount of responsibility assumed exceeds its net capital and surplus, no state or federal savings and loan association, chartered or licensed to do business in this state, shall be required to furnish fidelity, surety, or performance bond, called “bond” in this subchapter, in business transactions involving:
(1) Garnishment;
(2) Replevin;
(3) Foreclosure; and
(4) Forcible entry and detainer.
(b) At the beginning of any proceeding in all such business transactions, the state or federal savings and loan association shall, upon request, furnish to each party to the transaction a copy of its most recent statement of financial condition.
Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-32-305. Exemption from posting bond in certain transactions - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-32-305/
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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