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AR SB80

Bill

Official Source

Status

Passed

2/6/2019

Primary Sponsor

Jason Rapert

Click for details

Origin

Senate

92nd General Assembly (2019 Regular)

AI Summary

  • Amends Arkansas Code § 23-47-906(c)(2) to clarify procedures when safe-deposit box rental and related charges remain unpaid for two (2) years from the date the box was opened

  • Banks may sell contents of the safe-deposit box at public auction at any time before the period of time established by § 18-28-203 from the date the safe-deposit box lease expired

  • Sale of contents must follow the same manner and notice requirements prescribed for the sale of real property under mortgage or deed of trust

  • Approved February 6, 2019

Legislative Description

To Clarify The Remedies And Procedures For Nonpayment Of Rent On A Safe-deposit Box.

Last Action

Notification that SB80 is now Act 63

2/6/2019

Committee Referrals

Insurance and Commerce1/29/2019
Insurance & Commerce1/14/2019

Full Bill Text

No bill text available