Arkansas § 15-56-305 - Receiver — Disposition of proceeds.
Full text of Arkansas Arkansas Code of 1987 Annotated § 15-56-305 — Receiver — Disposition of proceeds., with citation guidance and answers to common questions.
§ 15-56-305. Receiver — Disposition of proceeds.
Upon the filing of the petition, the circuit court shall appoint a receiver, who shall be authorized to negotiate for and to execute, acknowledge, and deliver a lease on mineral lands or severed mineral interests for a cash, commodity in kind, or tonnage royalty, as is the customary manner, and terms for the product, for the best interest of, or compensation to, the parties holding thereunder, and to collect, divide, and pay over the proceeds, secured for the leases, pro rata to and among owners, as their interests may appear. Any rents, bonus money, royalties, or other proceeds that may accrue to any unknown persons shall be paid by the receiver into the registry of the clerk of the court to be held by the clerk, and any bond of the receiver shall be eliminated thereby.
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 15-56-305
What does Arkansas Code of 1987 Annotated § 15-56-305 cover?
Section 15-56-305 ("Receiver — Disposition of proceeds.") 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 § 15-56-305?
A common citation format is "Arkansas Code of 1987 Annotated § 15-56-305" (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 § 15-56-305 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.