(a) Following the suspension of a dealer's license under this chapter, the State Plant Board may file a verified petition in a court of competent jurisdiction requesting the appointment of a receiver to take custody of the assets of the dealer and provide for the disposition of the assets under the supervision of the court.(b) A petition for the appointment of a receiver shall be filed in the county in which the dealer is located.(c) Upon receiving a petition for the appointment of a receiver under this section, a court may issue any temporary orders necessary to preserve or protect the assets in receivership, the value of the assets in receivership, and the rights of the dealer's creditors until a plan of disposition is approved.(d) The board may be appointed as receiver in an action brought under this section.Added by Act 2015, No. 601,§ 1, eff. 3/23/2015.
Arkansas Legal Code