(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.
Structure Arkansas Code
Chapter 17 - Warehousing of Grain
Subchapter 4 - Public Warehouses — Receivership
§ 2-17-402. Filing of petition
§ 2-17-403. Plan for disposition of grain
§ 2-17-405. Notice and parties
§ 2-17-406. Publication of appointment
§ 2-17-407. Designation of employee to appear
§ 2-17-408. Arkansas Administrative Procedure Act
§ 2-17-410. Time for filing claims
§ 2-17-411. Merchandiser to effect sale
§ 2-17-412. Distribution of grain or proceeds
§ 2-17-413. Temporary continuation of business