SB246

Senate Bill 246 amends Arkansas law regarding the sale of timber from land that has multiple co-owners or coheirs. It clarifies the requirements and procedures for timber buyers to purchase and remove timber from properties where some co-owners or coheirs are unknown, unlocatable, or have refused to consent to a sale. The bill maintains the requirement that at least 60% of the ownership interest must consent to the sale and mandates a diligent search for missing owners, including public notice. It formalizes the definition of 'unknown or unlocatable co-owners or coheirs' to explicitly include those who were offered a contract but refused to sign. Additionally, the bill outlines liability protections and indemnification requirements, ensuring non-consenting co-owners are not liable for operational costs and are entitled to the same price as consenting parties.