Arkansas Code of 1987 (2023) › Title 18 - PROPERTY (§§ 18-1-101 — 18-61-106) › Subtitle 4 - MORTGAGES AND LIENS (§§ 18-40-101 — 18-50-117) › Chapter 48 - MISCELLANEOUS LIENS ON PERSONAL PROPERTY (§§ 18-48-101 — 18-48-809) › Subchapter 7 - MARINA FACILITY OPERATORS (§§ 18-48-701 — 18-48-709) › Section 18-48-706 - Sale procedure

(a)
Before conducting a sale under §
18-48-705
, the marina operator shall:
(1)
(A)
Notify the occupant in writing of the default.
(B)
The notice shall be sent by certified mail, return receipt requested, to the occupant at the occupant's last known address, and shall include:
(i)
A statement that the contents of the occupant's leased space are subject to the marina operator's lien;
(ii)
A statement of the marina operator's claim, indicating the charges due on the date of the notice, the amount of any additional charges which shall become due before the date of sale, and the date those additional charges shall become due;
(iii)
A demand for payment of the charges due within a specified time, not less than fourteen (14) days after the date that the notice was mailed;
(iv)
A statement that unless that claim is paid within the time stated, the contents of the occupant's space will be sold at a specified time and place;
(v)
The name, street address, and telephone number of the marina operator or his or her designated agent whom the occupant may contact to respond to the notice; and
(vi)
Designation of the date, time, and place where the contents will be sold unless the default is remedied prior to sale;
(2)
Publish one (1) advertisement in a newspaper of general circulation in the county in which the marina facility is located at least seven (7) days prior to sale; and
(3)
(A)
Contact the circuit clerk in the county where the personal property is stored to determine the name and address of any holder of liens or security interests in the personal property being sold.
(B)
(i)
The owner shall notify by certified mail, return receipt requested, each holder of a lien or security interest of the time and place of the proposed sale at least ten (10) days prior to conducting the sale.
(ii)
The owner shall be required to notify the holder of a lien or security interest only if the lien or security interest is filed under the name of the occupant.
(b)
At any time before a sale under this section, the occupant may pay the amount necessary to satisfy the marina operator's lien and redeem the occupant's personal property.
(c)
The sale under this subchapter shall be held at the marina facility where the personal property is stored.
(d)
A purchaser in good faith of any personal property sold under this subchapter takes the property free and clear of any rights of:
(1)
Persons against whom the lien was valid; and
(2)
Other lienholders.
(e)
If the marina operator complies with the provisions of this subchapter, the marina operator's liability:
(1)
To the occupant, shall be limited to the net proceeds received from the sale of the personal property; and
(2)
To other lienholders, shall be limited to the net proceeds received from the sale of any personal property covered by the other liens or the amount owed to such lienholders, whichever is less.
(f)
The marina operator shall retain a copy of all notices and return receipts required by subsection (a) of this section for six (6) months following the date of the lien sale.
Acts 1997, No. 903, § 6.