Ark. Code Ann. » Title 4 Chapter 09
Arkansas Code Annotated

Ark. Code Ann. § 4-9-104 (2026)

Control of deposit account

✓ current as of May 2026
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  1. A secured party has control of a deposit account if:
    1. the secured party is the bank with which the deposit account is maintained;
    2. the debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor; or
    3. the secured party becomes the bank's customer with respect to the deposit account.
  2. A secured party that has satisfied subsection (a) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.

History. Acts 2001, No. 1439, § 1.

Case Notes

In General.

—Assignment.

Where (1) the creditor acquired, by assignment, a promissory note issued to a third party, the debtor's guaranties pertaining to the note, and an agreement pledging the CD as security on the debtor's guarantee obligations, (2) the assignor had perfected its security interest in the CD under § 4-9-312(b)(1) by obtaining “control” of the CD, and (3) § 4-9-313, which provided for perfection by possession, was not applicable to the CD, which was a “deposit account” as defined in § 4-9-102(a)(29), the creditor did not have to take any additional steps, such as obtaining control over the CD, to perfect its security interest in the CD because the assignor had perfected its security interest and the security interest remained perfected, through the assignment, as against the debtor. Beal Bank, S.S.B. v. Fewell (In re Fewell), 352 B.R. 98 (Bankr. E.D. Ark. 2006).

Notes of Decisions
Cited in 7 cases, 1988–2006 · leading case: Quapaw Cent. Bus. Improvement Dist. v. Bond-Kinman, Inc., 870 S.W.2d 390 (Ark. 1994).
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Quapaw Cent. Bus. Improvement Dist. v. Bond-Kinman, Inc., 870 S.W.2d 390 (Ark. 1994). · cites it 6× “Section 4-9-104(e) (Repl. 1991) excepts, from the operations of the Article, a transfer by a government or governmental subdivision or agency.”
Nef v. Ag Servs. of Am., Inc., 86 S.W.3d 4 (Ark. Ct. App. 2002). · cites it 2× “That statute provides: “This chapter does not apply: (a) To a security interest subject to any statute of the United States to the extent that such statute governs the rights of parties to and third parties affected by transactions in particular types of property.”
First Fed. Sav. of Arkansas, F.A. v. City Nat'l Bank of Fort Smith, 87 B.R. 565 (W.D. Ark. 1988). · cites it 2× “A.C.A. § 4-9-104 states that Article 9 of the U.”
Herringer v. Mercantile Bank of Jonesboro, 866 S.W.2d 390 (Ark. 1993). · cites it 2× “Ark. Code Ann. § 4-9-104 (b) (1987). A majority of other jurisdictions dealing with this exclusion have applied their respective pre-code law to determine the outcome [see Ex-Cell-O Corp v.”
Faulkner v. Contractor's Glass Co. (In Re Contractor's Glass Co.), 152 B.R. 270 (Bankr. W.D. Ark. 1992). · cites it 2× “Ark.Code Ann. § 4-9-104(c) (Michie 1991).”
Beal Bank, S.S.B. v. Fewell (In Re Fewell), 352 B.R. 98 (Bankr. E.D. Ark. 2006). · cites it 9× “The Debtor and the Committee assert that Beal Bank failed to perfect an interest in the Certificate of Deposit because it did not obtain “control” as defined by Ark. Code Ann. § 4-9-104 . For the reasons set forth below, the Court agrees with Beal Bank that its security interest…”
Fratesi v. Fogleman, 32 S.W.3d 38 (Ark. Ct. App. 2000). · cites it 2× “Further, Arkansas Code Annotated section 4-9-104(b) and (c) state that this chapter does not apply to a landlord’s lien or a lien given by statute.”
— Ark. Code Ann. § 4-9-104(a) — 1 case
Beal Bank, S.S.B. v. Fewell (In Re Fewell), 352 B.R. 98 (Bankr. E.D. Ark. 2006). “The Debtor and the Committee assert that Beal Bank failed to perfect an interest in the Certificate of Deposit because it did not obtain “control” as defined by Ark. Code Ann. § 4-9-104 . For the reasons set forth below, the Court agrees with Beal Bank that its security interest…”
— Ark. Code Ann. § 4-9-104(b) — 1 case
Fratesi v. Fogleman, 32 S.W.3d 38 (Ark. Ct. App. 2000). “Further, Arkansas Code Annotated section 4-9-104(b) and (c) state that this chapter does not apply to a landlord’s lien or a lien given by statute.”
— Ark. Code Ann. § 4-9-104(c) — 2 cases
Faulkner v. Contractor's Glass Co. (In Re Contractor's Glass Co.), 152 B.R. 270 (Bankr. W.D. Ark. 1992). “Ark.Code Ann. § 4-9-104(c) (Michie 1991).”
Beal Bank, S.S.B. v. Fewell (In Re Fewell), 352 B.R. 98 (Bankr. E.D. Ark. 2006). “The Debtor and the Committee assert that Beal Bank failed to perfect an interest in the Certificate of Deposit because it did not obtain “control” as defined by Ark. Code Ann. § 4-9-104 . For the reasons set forth below, the Court agrees with Beal Bank that its security interest…”
— Ark. Code Ann. § 4-9-104(e) — 1 case
Quapaw Cent. Bus. Improvement Dist. v. Bond-Kinman, Inc., 870 S.W.2d 390 (Ark. 1994). “Section 4-9-104(e) (Repl. 1991) excepts, from the operations of the Article, a transfer by a government or governmental subdivision or agency.”
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