Arkansas § 4-28-607 - Statement of authority as to real property.

§ 4-28-607. Statement of authority as to real property.

In this section, “statement of authority” means a statement authorizing a person to transfer an interest in real property held in the name of an unincorporated nonprofit association. An interest in real property held in the name of an unincorporated nonprofit association may be transferred by a person authorized to do so in a statement of authority recorded by the association in the office in the county in which a transfer of the property would be recorded. A statement of authority must set forth: the name of the unincorporated nonprofit association; the address in this state, including the street address, if any, of the association or, if the association does not have an address in this state, its out-of-state address; that the association is an unincorporated nonprofit association; and the name, title, or position of a person authorized to transfer an interest in real property held in the name of the association. A statement of authority must be executed in the same manner as an affidavit by a person other than the person authorized in the statement to transfer the interest. A filing officer may collect a fee for recording a statement of authority in the amount authorized for recording a transfer of real property. A document amending, revoking, or canceling a statement of authority or stating that the statement is unauthorized or erroneous must meet the requirements for executing and recording an original statement. Unless canceled earlier, a recorded statement of authority and its most recent amendment expire five years after the date of the most recent recording. If the record title to real property is in the name of an unincorporated nonprofit association and the statement of authority is recorded in the office of the county in which a transfer of the property would be recorded, the authority of the person named in the statement to transfer is conclusive in favor of a person that gives value without notice that the person lacks authority.