(a) As used in this section:(1) “Controlling interest” means an ownership interest of fifty percent (50%) or more, in the aggregate;(2) (A) “Critical infrastructure” means physical or virtual systems and assets that:(i) If incapacitated or destroyed would have a debilitating impact on security, national economic security, public health or safety, or any combination of security, national economic security, or public health and safety; and(ii) Are publicly or privately owned.(B) “Critical infrastructure” includes without limitation:(i) A military installation or facility;(ii) An emergency service;(iii) A power generation or transmission location;(iv) A utility;(v) A bridge;(vi) A tunnel;(vii) A railway;(viii) A dam;(ix) A cybersecurity or classified information storage system; and(x) A communication or information technology node or facility;(3) “Prohibited foreign party” means the same as in § 18-11-802; and(4) “Prohibited foreign-party-controlled business” means a corporation, company, association, firm, partnership, society, joint-stock company, trust, estate, or other legal entity whose controlling interest is owned by a prohibited foreign party.
(1) “Controlling interest” means an ownership interest of fifty percent (50%) or more, in the aggregate;
(2) (A) “Critical infrastructure” means physical or virtual systems and assets that:(i) If incapacitated or destroyed would have a debilitating impact on security, national economic security, public health or safety, or any combination of security, national economic security, or public health and safety; and(ii) Are publicly or privately owned.(B) “Critical infrastructure” includes without limitation:(i) A military installation or facility;(ii) An emergency service;(iii) A power generation or transmission location;(iv) A utility;(v) A bridge;(vi) A tunnel;(vii) A railway;(viii) A dam;(ix) A cybersecurity or classified information storage system; and(x) A communication or information technology node or facility;
(A) “Critical infrastructure” means physical or virtual systems and assets that:(i) If incapacitated or destroyed would have a debilitating impact on security, national economic security, public health or safety, or any combination of security, national economic security, or public health and safety; and(ii) Are publicly or privately owned.
(i) If incapacitated or destroyed would have a debilitating impact on security, national economic security, public health or safety, or any combination of security, national economic security, or public health and safety; and
(ii) Are publicly or privately owned.
(B) “Critical infrastructure” includes without limitation:(i) A military installation or facility;(ii) An emergency service;(iii) A power generation or transmission location;(iv) A utility;(v) A bridge;(vi) A tunnel;(vii) A railway;(viii) A dam;(ix) A cybersecurity or classified information storage system; and(x) A communication or information technology node or facility;
(i) A military installation or facility;
(ii) An emergency service;
(iii) A power generation or transmission location;
(iv) A utility;
(v) A bridge;
(vi) A tunnel;
(vii) A railway;
(viii) A dam;
(ix) A cybersecurity or classified information storage system; and
(x) A communication or information technology node or facility;
(3) “Prohibited foreign party” means the same as in § 18-11-802; and
(4) “Prohibited foreign-party-controlled business” means a corporation, company, association, firm, partnership, society, joint-stock company, trust, estate, or other legal entity whose controlling interest is owned by a prohibited foreign party.
(b) (1) A prohibited foreign-party-controlled business shall not acquire by grant, purchase, lease, devise, descent, or otherwise any interest in public or private land in this state.(2) A party may not hold or retain public or private land as an agent, trustee, or other fiduciary for a prohibited foreign-party-controlled business in violation of this section.(3) A prohibited foreign-party-controlled business shall not lease any interest in land in this state.(4) A prohibited foreign party shall not hold any interest in agricultural land located within a ten-mile radius of critical infrastructure.
(1) A prohibited foreign-party-controlled business shall not acquire by grant, purchase, lease, devise, descent, or otherwise any interest in public or private land in this state.
(2) A party may not hold or retain public or private land as an agent, trustee, or other fiduciary for a prohibited foreign-party-controlled business in violation of this section.
(3) A prohibited foreign-party-controlled business shall not lease any interest in land in this state.
(4) A prohibited foreign party shall not hold any interest in agricultural land located within a ten-mile radius of critical infrastructure.
(c) (1) A prohibited foreign-party-controlled business entity in violation of this section shall have one (1) year to divest of the public or private land.(2) If a prohibited foreign-party-controlled business entity does not divest the public or private land as required by subdivision (c)(1) of this section, the Attorney General shall commence an action in the circuit court within the jurisdiction of the public or private land.(3) (A) If the public or private land is held in violation of this section, the circuit court shall order that the public or private land be sold through judicial foreclosure.(B) Proceeds of the sale shall be first disbursed to lien holders, if any, in the order of priority, except for liens which under the terms of the sale are to remain on the public or private land.(4) The Attorney General shall promptly record a copy of the following in the local land records:(A) Upon commencement, notice of the pendency of an action brought under subdivision (c)(2) of this section; and(B) The order for the sale of the public or private land under subdivision (c)(3)(A) of this section.
(1) A prohibited foreign-party-controlled business entity in violation of this section shall have one (1) year to divest of the public or private land.
(2) If a prohibited foreign-party-controlled business entity does not divest the public or private land as required by subdivision (c)(1) of this section, the Attorney General shall commence an action in the circuit court within the jurisdiction of the public or private land.
(3) (A) If the public or private land is held in violation of this section, the circuit court shall order that the public or private land be sold through judicial foreclosure.(B) Proceeds of the sale shall be first disbursed to lien holders, if any, in the order of priority, except for liens which under the terms of the sale are to remain on the public or private land.
(A) If the public or private land is held in violation of this section, the circuit court shall order that the public or private land be sold through judicial foreclosure.
(B) Proceeds of the sale shall be first disbursed to lien holders, if any, in the order of priority, except for liens which under the terms of the sale are to remain on the public or private land.
(4) The Attorney General shall promptly record a copy of the following in the local land records:(A) Upon commencement, notice of the pendency of an action brought under subdivision (c)(2) of this section; and(B) The order for the sale of the public or private land under subdivision (c)(3)(A) of this section.
(A) Upon commencement, notice of the pendency of an action brought under subdivision (c)(2) of this section; and
(B) The order for the sale of the public or private land under subdivision (c)(3)(A) of this section.
(d) A prohibited foreign-party-controlled business entity that violates this section upon conviction is guilty of an unclassified felony punishable by not more than two (2) years' imprisonment in the custody of the Division of Correction or a fine of fifteen thousand dollars ($15,000), or both.
(e) It is an affirmative defense to prosecution under this section that a prohibited foreign-party-controlled business entity is a resident alien of the State of Arkansas.
(f) Title to public or private land is not invalid or subject to divestiture due to a violation of this section by:(1) Any former owner; or(2) Another person holding or owning a former interest in the public or private land.
(1) Any former owner; or
(2) Another person holding or owning a former interest in the public or private land.
(g) No person not subject to this section shall be required to determine or inquire into whether another person is or may be subject to this section.