Arkansas Code of 1987 (2023) › Title 18 - PROPERTY (§§ 18-1-101 — 18-61-106) › Subtitle 2 - REAL PROPERTY (§§ 18-11-101 — 18-17-913) › Chapter 11 - REAL PROPERTY INTERESTS GENERALLY (§§ 18-11-101 — 18-11-805) › Subchapter 8 - FOREIGN OWNERSHIP OF AGRICULTURAL LAND (§§ 18-11-801 — 18-11-805) › Section 18-11-802 - Definitions

As used in this subchapter:
(1)
(A)
"Agricultural land" means any Arkansas land which is outside the corporate limits of a municipality and is:
(i)
Used for forestry production, including without limitation land exceeding ten (10) acres in which ten percent (10%) of the land is stocked by trees of any size, including land that formerly had trees of any size covering the land that will be naturally or artificially regenerated; or
(ii)
Currently used for, or, if currently idle, land last used within the past five (5) years, for farming, ranching, or timber production, except land not exceeding ten (10) acres in the aggregate, if the annual gross receipts from the sale of the farm, ranch, or timber products produced on the land do not exceed one thousand dollars ($1,000), including without limitation land used for activities described in the Standard Industrial Classification Manual (1987), Division A, exclusive of industry numbers 0711-0783, 0851, and 0912-0919 which cover animal trapping, game management, hunting carried on as a business enterprise, trapping carried on as a business enterprise, and wildlife management.
(B)
"Agricultural land" does not include oil, gas, and all other minerals, including coal, lignite, brine, and all minerals known and recognized as commercial minerals underlying the land;
(2)
"Foreign government" means the same as provided by §
2-3-102
;
(3)
"Interest in agricultural land" means all direct interest acquired, transferred, or held in agricultural land, including without limitation a lease of agricultural land:
(A)
For a term of one (1) year or longer; or
(B)
Renewable by option for terms which, if the options were all exercised, would total one (1) year;
(4)
"Party" means the same as provided by §
2-3-102
;
(5)
"Prohibited foreign party" means:
(A)
A citizen or resident of a country subject to International Traffic in Arms Regulations,
22 C.F.R. § 126.1
;
(B)
A foreign government formed within a country subject to International Traffic in Arms Regulations,
22 C.F.R. § 126.1
;
(C)
A party other than an individual or a government, that is created or organized under the laws of a foreign government within a country subject to International Traffic in Arms Regulations,
22 C.F.R. § 126.1
;
(D)
Any party other than an individual or a government:
(i)
That is created or organized under the laws of any state; and
(ii)
In which a significant interest or substantial control is directly or indirectly held or is capable of being exercised by:
(a)
An individual referred to in subdivision (5)(A) of this section;
(b)
A foreign government referred to in subdivision (5)(B) of this section;
(c)
A party referred to in subdivision (5)(C) of this section; or
(d)
A combination of the individuals, parties, or governments referred to in this subdivision (5)(D)(ii);
(E)
An Entity of Particular Concern designated by the United States Department of State; or
(F)
An agent, trustee, or other fiduciary of a person or entity enumerated in subdivisions (5)(A)-(E) of this section;
(6)
"Residence" means a person's principal dwelling place where the person intends to remain permanently for an indefinite period of time;
(7)
"Resident alien" means a person who:
(A)
Is not a citizen of the United States; and
(B)
Is a resident of a:
(i)
State of the United States;
(ii)
Territory of the United States;
(iii)
Trusteeship of the United States; or
(iv)
Protectorate of the United States; and
(8)
"Significant interest" or "substantial control" means:
(A)
An interest of thirty-three percent (33%) or more held by:
(i)
A party referred to in subdivision (5)(D) of this section;
(ii)
An individual referred to in subdivision (5)(A) of this section;
(iii)
A party referred to in subdivision (5)(C) of this section; or
(iv)
A single government referred to in subdivision (5)(B) of this section;
(B)
An interest of thirty-three percent (33%) or more held whenever the parties, individuals, or governments referred to in subdivision (5) of this section are acting in concert with respect to the interest even though no single individual, party, or government holds an interest of thirty-three percent (33%) or more; or
(C)
An interest of fifty percent (50%) or more, in the aggregate, held by parties, individuals, or governments referred to in subdivision (5) of this section even though the individuals, parties, or foreign governments may not be acting in concert.
Added by Act 2023, No. 636,§ 3, eff. 8/1/2023.