{"data":{"id":"us-ar/ark.-code-ann.-23-49-112","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 23-49-112","heading":"Rejection of contracts and leases","body":"(a) Within one hundred eighty (180) days after the date that the Bank Commissioner has taken possession, the receiver may, at his or her election, reject: (1) Any executory contracts to which the closed institution is a party without any further liability to the closed institution or the receiver; and (2) Any obligation of the institution as a lessee of real or personal property. (b) The receiver's election to reject a lease shall create no claim for rent other than rent accrued to the date of termination. Acts 1997, No. 89, § 1.\n\n(a) Within one hundred eighty (180) days after the date that the Bank Commissioner has taken possession, the receiver may, at his or her election, reject: (1) Any executory contracts to which the closed institution is a party without any further liability to the closed institution or the receiver; and (2) Any obligation of the institution as a lessee of real or personal property.\n\n(1) Any executory contracts to which the closed institution is a party without any further liability to the closed institution or the receiver; and\n\n(2) Any obligation of the institution as a lessee of real or personal property.\n\n(b) The receiver's election to reject a lease shall create no claim for rent other than rent accrued to the date of termination.","path":["AR Code","Title 23","Chapter 49"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"86bfe931772c11ee3648d0107281bc64d38f370b54b86a48e491160fcc9eabca","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-23-49-111","next":"us-ar/ark.-code-ann.-23-49-113"},"notice":"GroundRules: Original legal text. Not legal advice."}