(a) When any raft or boat with produce therein shall be taken up, which raft or the cargo of the boat consists of articles that are usually taken to the states of Mississippi or Louisiana for sale and the owner does not apply for or make demand of the property within twenty (20) days, then the person taking up the property may apply to a justice of the peace of the county where the property was taken up. On showing that the property so taken up is of a perishable nature and is likely to be injured or become of less value by being kept, the justice may make an order authorizing the taker up of the property to sell the property at public auction on giving notice by advertisement, as the justice may direct, or the justice may authorize the taker up to ship the property to any market where he or she may deem it most likely he or she will effect a good sale of the property.

(b) Before the sale shall be made or the property removed for shipment to another market, the taker up shall enter into bond to the State of Arkansas, with sufficient security to be approved of by the justice, in double the value of the property so taken up. This bond shall be conditioned that if the owner shall appear and establish his or her claim to the property within one (1) year from the time of taking up the property, the taker up will pay to the owner the value of the property, deducting his or her salvage or, when taken to a market, deducting his or her salvage and reasonable expenses.

(c) The bond shall be filed by the justice in the office of the clerk of the county court of the county where the property was taken up for the use of the owner.

(d) The justice shall give to the taker up a copy of the order of sale or shipment with a certificate that bond has been entered into by the person for the security of the owner. The copy of the order and certificate under the hand of the justice shall be a sufficient voucher for the taker up to authorize all acts of ownership over the property.