§ 16-56-107 - Enforcement of security interest in livestock. - Arkansas Statutes

16-56-107. Enforcement of security interest in livestock.

(a) No action to enforce a security interest in livestock shall be brought against a livestock auction market or selling agent who, in the ordinary course of business, sells the livestock for another person in a public auction, more than eighteen (18) months after the date of the sale.

(b) No action to enforce a security interest in livestock against a buyer in the ordinary course of business shall be brought more than eighteen (18) months after the livestock is sold to the buyer.