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AR SB408
Bill
Status
Passed
3/19/2019
Primary Sponsor
Matthew Pitsch
Click for details
AI Summary
- Adds new section 18-11-107 requiring closing agents to provide a written disclosure statement to real property buyers before or at closing time
- Disclosure must inform buyers that the property may be located within or near a rural area and that nearby agricultural operations are protected from nuisance lawsuits under Arkansas Code § 2-4-101 et seq
- Defines "agricultural operation" to include livestock and poultry production, apiary products, crop and timber cultivation, and aquacultural production in controlled environments
- Prohibits lawsuits against closing agents or their employers for failure to provide the required written disclosure statement
- Approved March 19, 2019
Legislative Description
Concerning Disclosure Requirements For Real Estate Transactions; To Require The Disclosure Of Agricultural Operations Near Real Property Located In A Rural Area.
Last Action
Notification that SB408 is now Act 515
3/19/2019
Committee Referrals
Agriculture, Forestry and Economic Development3/12/2019
Agriculture, Forestry and Economic Development2/25/2019
Full Bill Text
No bill text available