§ 18-45-205 - Filing of notice and bond required. - Arkansas Statutes

18-45-205. Filing of notice and bond required.

(a) (1) The lienholder shall file with one (1) of the justices of the peace in the township where his or her place of business is located a notice similar to the ones required in 18-45-204 to be posted.

(2) The justice shall note upon the notice the amount of a bond for the protection of the debtor or property owner in the event the lienholder is not entitled to the lien and for the payment of any damages if the sale is wrongfully made.

(b) The lienholder shall file a bond so conditioned and in such sum with the justice of the peace, and the surety thereon shall be approved by the justice of the peace before making the sale provided for in this subchapter.