Statutes > Arkansas Statutes > Title 16 - Practice, Procedure, And Courts > Subtitle 7 - Particular Proceedings And Remedies > Chapter 117 - Receivership > Subchapter 3 - Petition by Insolvent Debtor > § 16-117-301 - Complaint to be declared insolvent -- Appointment of receiver.

§ 16-117-301 - Complaint to be declared insolvent -- Appointment of receiver.

16-117-301. Complaint to be declared insolvent -- Appointment of receiver.

Any insolvent debtor may file in the circuit court of the county in which he or she resides a complaint in which one (1) or more of his or her creditors shall be made defendants, asking to be declared an insolvent, and asking for the appointment of a receiver to take charge of his or her property and distribute the property among his or her creditors. Upon the filing of the petition, the court shall appoint a receiver.