When the Director of the State Plant Board is appointed as receiver under this chapter, the surety on the bond of the Class A registrant shall be joined as a party defendant by the director. If required by the court, the surety shall pay the bond proceeds, or so much thereof as the court finds necessary, into the court, and 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
Subtitle 1 - General Provisions
Chapter 6 - Catfish Processor Fair Practices Act
§ 2-6-105. Registration and suspension — Exception
§ 2-6-106. Unlawful practices — Penalties
§ 2-6-107. Purchase methods — Delays
§ 2-6-109. Receivership — Petition — Assets
§ 2-6-110. Receivership — Plan for disposition of catfish
§ 2-6-111. Receivership — Hearings on plan — Notice — Service
§ 2-6-112. Receivership — Notification to weigh ticket holders
§ 2-6-113. Receivership — Publication of notification of receiver's appointment
§ 2-6-114. Receivership — Designee — Duties of director
§ 2-6-115. Receivership — Applicability of administrative procedures
§ 2-6-116. Receivership — Sureties
§ 2-6-117. Receivership — Notice of claims filing deadline
§ 2-6-118. Receivership — Sale of processed catfish — Merchandiser
§ 2-6-119. Receivership — Distribution to producers
§ 2-6-120. Receivership — Continued operation of business
§ 2-6-121. Receivership — Reimbursement