§ 2-17-415 - Distribution plan. - Arkansas Statutes

2-17-415. Distribution plan.

(a) (1) In the event the approved plan of disposition requires the sale of stored grain or the distribution of proceeds from the surety bond, or both, the Public Grain Warehouse Commissioner shall submit to the court a proposed plan of distribution of those proceeds.

(2) Upon such notice and hearing as may be required by the court, the court shall accept or modify the proposed plan.

(b) When the plan is approved by the court and executed by the commissioner, the commissioner shall be discharged and the receivership terminated.