Ark. Code Ann. § 16-85-513: Indictment

(a) The grand jury should find an indictment when all the evidence before them, taken together, would, in their judgment, if unexplained, warrant a conviction by the trial jury.

(b) All the papers and other matters of evidence relating to the arrest and examination of the charges against persons committed or on bail which have been returned to court by magistrates shall be laid before the grand jury. If, upon investigation, they refuse to find an indictment, they shall write upon some one of the papers "dismissed", with the signature of the foreman. Thereupon, the court shall discharge the defendant from custody if he or she is in jail, or the court shall exonerate the bail if bail has been given, unless the court should be of the opinion that the charge should again be submitted to another grand jury. In that case, the defendant may be continued in custody or on bail until the next term of the court.

(c) The dismissal of the charge does not prevent its being again submitted to a grand jury as often as the court may direct, but without such direction, it cannot again be submitted.

(d) Unless an indictment is found at the term of the court next after the first submission of the charge to the grand jury, the defendant shall be discharged from custody or exonerated from bail unless, for cause shown, the court shall otherwise direct.

Crim. Code, §§ 103, 114-116; C. & M. Dig., §§ 2989, 2997-2999; Pope's Dig., §§ 3811, 3819-3821; A.S.A. 1947, §§ 43-920 -- 43-923.