In the event of the bankruptcy or receivership of the provider resulting from the financial difficulties of the provider, the residents of the facility shall have a statutory lien on the real and personal property of the facility. This lien shall be subordinate to liens of record prior to the date of a filing of a petition in bankruptcy or petition for receivership but shall be superior to all other creditors.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 93 - Continuing Care Providers
Subchapter 1 - Continuing Care Provider Regulation Act
§ 23-93-102. Legislative intent — Applicability
§ 23-93-106. Disclosure statement — Contents
§ 23-93-107. Disclosure statement — Review
§ 23-93-108. Continuing care contracts — Minimum requirements
§ 23-93-109. Right to rescind contracts
§ 23-93-110. Untrue, deceptive, or misleading statements prohibited
§ 23-93-111. Liquid refund reserve requirement