Arkansas § 14-57-609 - Default in payment of bonds.
Full text of Arkansas Arkansas Code of 1987 Annotated § 14-57-609 — Default in payment of bonds., with citation guidance and answers to common questions.
§ 14-57-609. Default in payment of bonds.
If there is a default in the payment of the principal of, or interest on, any of the revenue bonds authorized by this subchapter, any court having jurisdiction, in any proper action, may appoint a receiver to take charge of and operate the parking meters, with power to charge and collect rates sufficient to provide for the payment of the bonds, and interest thereon, after providing for the payment, if any, of the operating expenses of the property, and to apply the income and revenues derived from the property in conformity with this subchapter and the ordinance providing for the issuance of the bonds. When the default has been cured, the receivership shall be ended. This suit may be brought by the holder of any bond issued under the provisions of this subchapter or of any coupon representing interest accrued thereon.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 14-57-609
What does Arkansas Code of 1987 Annotated § 14-57-609 cover?
Section 14-57-609 ("Default in payment of bonds.") 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 § 14-57-609?
A common citation format is "Arkansas Code of 1987 Annotated § 14-57-609" (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 § 14-57-609 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.