Ark. Code § 2-3-104

Current with legislation from 2024 Fiscal and Special Sessions.

Section 2-3-104 - [Suspended See Note] Right to security interests

Any foreign party shall have the right to make loans of money and to take and accept mortgages or other security interests upon agricultural land in Arkansas to secure the payment of loans. The foreign party may acquire fee ownership of the land upon a foreclosure or other legal enforcement of the security interest, provided the foreign party acquiring ownership registers the ownership as required in this chapter.

Ark. Code § 2-3-104

Acts 1979, No. 1096, § 4; A.S.A. 1947, § 77-2204.

Pursuant to section 2-3-111, which became effective 7/28/2021, sections 2-3-101 through 2-3-110 are suspended while the Agricultural Foreign Investment Disclosure Act, 7 U.S.C. § 3501 et seq., is in effect .