Ark. Code Ann. § 16-106-103: Actions against officers, corporations, etc., for certain penalties

Where officers, corporations, or officers of corporations are required to report to the Auditor of State the moneys in their hands belonging to the state or due by them or by a corporation to the state, at a certain period or periods fixed by law, and a fine or penalty is imposed for the failure, the action for the recovery thereof may be commenced at any time after the failure.

Civil Code, § 486; C. & M. Dig., § 9301; Pope's Dig., § 11987; A.S.A. 1947, § 34-205.