Any insolvent debtor may file in the circuit court of the county in which he or she resides a complaint in which one (1) or more of his or her creditors shall be made defendants, asking to be declared an insolvent, and asking for the appointment of a receiver to take charge of his or her property and distribute the property among his or her creditors. Upon the filing of the petition, the court shall appoint a receiver.
Structure Arkansas Code
Title 16 - Practice, Procedure, And Courts
Subtitle 7 - Particular Proceedings And Remedies
Subchapter 3 - Petition by Insolvent Debtor
§ 16-117-301. Complaint to be declared insolvent — Appointment of receiver
§ 16-117-302. Delivery of property — Selection of exempt property
§ 16-117-303. List of creditors furnished — Notice
§ 16-117-304. Attachments — Intervention by receiver — Dismissal and return of property
§ 16-117-305. Receiver to convert property into money