Excess proceeds, distribution, and remainder
Arkansas Code § 26-37-205; Acts 1987, No. 814, § 6
- (a) Any money collected through the sale of tax-delinquent parcels that is above the amount of the taxes, fees, penalties, interest, and costs due at the time of sale shall be deemed excess proceeds.
- (b) Such excess proceeds shall be distributed upon application according to statute, and any remainder shall be held in trust by the Commissioner of State Lands for the former owner.