§ 26-36-317 - Accounting of payments. - Arkansas Statutes

26-36-317. Accounting of payments.

(a) (1) Simultaneously with the transmittal of a check for net proceeds collected to a claimant agency, the division shall provide the agency with an accounting of the setoffs finalized for which payment is being made.

(2) The accounting shall, whenever possible, include:

(A) The full names of the debtors;

(B) The debtors' social security numbers;

(C) The gross proceeds collected per individual setoff;

(D) The net proceeds collected per setoff; and

(E) The collection assistance fee charged per setoff.

(b) Upon receipt by a claimant agency of a check representing net proceeds collected on a claimant agency's behalf by the division and an accounting of the proceeds as specified under this section, the claimant agency shall credit the debtor's obligation with the gross proceeds collected.