§ 23-49-115 - Notice concerning safekeeping and safe-deposit boxes. - Arkansas Statutes

23-49-115. Notice concerning safekeeping and safe-deposit boxes.

(a) (1) The receiver shall cause notice to be mailed to the last address of record to the owners of any personal property in the possession of or held by a closed institution for safekeeping, and to all lessees of safe-deposit boxes.

(2) The notice shall require the intended recipients to appear and assert their claims to the property within sixty (60) days from the date of the notice.

(b) Subject to approval of the chancery court, the receiver shall make such agreements or arrangements as may be necessary for the disposition of property held by the closed institution for safekeeping and the contents of safe-deposit boxes, and for the termination of any leases or other contracts relating to such property or contents.