Arkansas § 14-303-508 - Default — Receiver.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-303-508 — Default — Receiver., with citation guidance and answers to common questions.
§ 14-303-508. Default — Receiver.
In the event of a default in the payment of the principal of, or interest on, any revenue bonds issued under this chapter, any court having jurisdiction may appoint a receiver to take charge of the tollway project involved. The receiver shall have the power to: Operate and maintain the tollway project involved; Charge and collect tolls sufficient to provide for the costs of the receivership and operating expenses of the tollway project; Provide for the payment of the principal of and interest on the revenue bonds; Apply the revenues derived from the tollway project in conformity with this chapter and in conformity to the resolution and indenture authorizing and securing the bonds. When the default has been cured, the receivership shall cease and the tollway project returned to the authority involved. The relief afforded by this section shall be construed to be in addition and supplemental to the remedies that may be afforded the trustee for the bondholders and the holders and owners of the bonds in the resolution and indenture authorizing and securing the bonds.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-303-508
What does Arkansas Code of 1987 Annotated § 14-303-508 cover?
Section 14-303-508 ("Default — Receiver.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 14-303-508?
A common citation format is "Arkansas Code of 1987 Annotated § 14-303-508" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 14-303-508 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.