§ 2-6-109 - Receivership -- Petition -- Assets. - Arkansas Statutes

2-6-109. Receivership -- Petition -- Assets.

(a) The Director of the State Plant Board in his or her discretion may, following a suspension of a Class A registrant as provided in this chapter, file a verified petition in the proper court requesting that the director be appointed as a receiver to take custody of catfish in the registrant's facility and to provide for the disposition of those assets in the manner provided in this chapter and under the supervision of the court.

(b) The petition shall be filed in the county in which the registrant is located. The proper court shall appoint the director as receiver.

(c) Upon the filing of the petition, the court shall issue ex parte such temporary orders as may be necessary to preserve or protect the assets in receivership, or the value thereof, and the rights of producers, until a plan of disposition is approved.