Title 18 — Property
29 chapters · 720 sections in this title.
Ark. Code Ann. § 18-44-503 Public buildings and improvements — Definition
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(a) A public construction contract in a sum exceeding fifty thousand dollars ($50,000) shall not be entered into by the State of Arkansas or any subdivision of the state, by any county, municipality, school district, or other local taxing unit, or by any agency of the state, a su…
Ark. Code Ann. § 18-44-504 Construction by religious or charitable organizations
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(a) A construction contract in any sum exceeding twenty thousand dollars ($20,000) shall not be entered into by any church, religious organization, charitable institution, or by any agency of the church, religious organization, or charitable institution, unless the contractor fur…
Ark. Code Ann. § 18-44-505 Option for private construction
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(a) A real estate construction contract between private parties may require the contractor to furnish to the party letting the real estate construction contract a:(1) Payment bond in a sum equal to the amount of the real estate construction contract for the benefit of all persons…
Ark. Code Ann. § 18-44-506 Surety and conditions
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(1) The payment bond or performance bond required or authorized in this subchapter shall be:(1) Executed by a solvent corporate surety company authorized to do business in the State of Arkansas; and(2) Conditioned that the contractor shall:(A) Perform his or her obligations under…
Ark. Code Ann. § 18-44-507 Filing
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(a) The contractor shall file the payment bond with the circuit clerk of the county in which the construction work is to take place before the commencement of the construction work required under the construction contract, public construction contract, or real estate construction…
Ark. Code Ann. § 18-44-508 Actions — Limitations
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(a) All persons, firms, associations, and corporations who have valid claims against the payment bond or performance bond may bring an action thereon against the corporate surety. (b) An action shall not be brought on a payment bond after one (1) year from the date of whichever o…