Arkansas Code Annotated
Ark. Code Ann. § 4-9-401 (2020)
Alienability of debtor's rights
✓ Arkansas Code release r76: Acts through about 2020 (2021-2025 sessions missing)
- Except as otherwise provided in subsection (b) and §§ 4-9-406 — 4-9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this chapter.
- An agreement between the debtor and secured party which prohibits a transfer of the debtor's rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.
History. Acts 2001, No. 1439, § 1.
Case Notes
Attachment.
Bank's action in merely causing encumbered tractor to be sold under attachment was not in itself wrongful and tractor seller, who perfected lien for the unpaid purchase price by taking a security agreement and filing financing statement, was not entitled to recover from bank on theory of “conversion.” Citizens Bank v. Perrin & Sons, 253 Ark. 639, 488 S.W.2d 14 (1972) (decision under prior law).
Cited: Commercial Credit Corp. v. National Credit Corp., 251 Ark. 541, 473 S.W.2d 876 (1971) (decision under prior law).
Notes of Decisions
Cited in 15
cases, 1989–2014 · leading case: Lawhon Farm Supply, Inc. v. Hayes, 870 S.W.2d 729 (Ark. 1994).
Lawhon Farm Supply, Inc. v. Hayes, 870 S.W.2d 729 (Ark. 1994). “[3] Under § 4-9-401 (1)(a), perfecting a security interest in farm products requires filing in the county of the debtor's residence and, if crops growing or to be grown, in the county where the land is located.”
Affiliated Food Stores, Inc. v. Farmers & Merchants Bank, 780 S.W.2d 20 (Ark. 1989). “The court recognized that perfection of a security interest in inventory, Ark. Code Ann. § 4-9-401 (l)(c) (1987), requires filing with the office of the secretary of state and provides for local (county) filing if the debtor does business in only one county.”
River Valley Bank of Russellville v. Ace Sports Mgmt., LLC (In Re Ace Sports Mgmt., LLC), 271 B.R. 134 (Bankr. E.D. Ark. 2001). “Ark. Code Ann. § 4-9-401 (c) (Michie 1991).”
Nef v. Ag Servs. of Am., Inc., 86 S.W.3d 4 (Ark. Ct. App. 2002). “Arkansas Code Annotated section 4-9-401(2) (Repl. 1991) provides: A filing which is made in good faith in an improper place or not in all of the places required by this section is nevertheless effective with regard to any collateral as to which the filing complied with the…”
Womack v. Newman Fixture Co., 766 S.W.2d 949 (Ark. Ct. App. 1989). “” That opinion also holds that the word “knowledge” as used in Ark. Code Ann. § 4-9-401 (2) (1987), means “actual rather than constructive knowledge” because that section say a the filing of a financing statement “in good faith in an improper place” is effective against any…”
In re Curtis, 363 B.R. 572 (Bankr. E.D. Ark. 2007). “Section 4-9-501(a)(2) is a significant change from the law contained in Arkansas Code Annotated Section 4-9-401. 3 Furthermore, Arkansas’ Section 4-9-501 (a)(2) is a minority position; Arkansas’ legislature chose not to follow the recommended revised Uniform Commercial Code that…”
Rice v. Fas Fax Corp. (In Re Hot Shots Burgers & Fries, Inc.), 169 B.R. 920 (Bankr. E.D. Ark. 1994). “” See Ark.Code Ann. § 4-9-401 (Michie Repl.1991).”
Womack v. Newman Fixture Co., 785 S.W.2d 226 (Ark. Ct. App. 1990). “" That opinion also holds that the word "knowledge" as used in Ark.Code Ann. § 4-9-401(2) (1987), means "actual rather than constructive knowledge" because that section says the filing of a financing statement "in good faith in an improper place" is effective against any person…”
Herringer v. Mercantile Bank of Jonesboro, 866 S.W.2d 390 (Ark. 1993). “The bank filed a financial statement pursuant to Ark. Code Ann. § 4-9-401 (1987) on March 21, 1990.”
In re Endicott, 239 B.R. 529 (Bankr. E.D. Ark. 1999). “Ark.Code Ann. § 4-9-401(1)(a) (Michie 1991).”
Int'l Ventures, Inc. v. Block Props. VII (In Re Int'l Ventures, Inc.), 214 B.R. 590 (Bankr. E.D. Ark. 1997). “§ 4-9-401(c), and the effect of the filing of the bankruptcy case is to render that interest unsecured, there is no diminution to the estate.”
Wetzell v. Equip. Dealers Credit Co. (In Re Davis), 274 B.R. 825 (Bankr. W.D. Ark. 2002). “The parties have stipulated that the loan application submitted to Equipment Dealers by Debtor Randy W.”
Ark. Code Ann. § 4-9-401(1)(a): 2 cases
Lawhon Farm Supply, Inc. v. Hayes, 870 S.W.2d 729 (Ark. 1994). “[3] Under § 4-9-401 (1)(a), perfecting a security interest in farm products requires filing in the county of the debtor's residence and, if crops growing or to be grown, in the county where the land is located.”
In re Endicott, 239 B.R. 529 (Bankr. E.D. Ark. 1999). “Ark.Code Ann. § 4-9-401(1)(a) (Michie 1991).”
Ark. Code Ann. § 4-9-401(2): 4 cases
Nef v. Ag Servs. of Am., Inc., 86 S.W.3d 4 (Ark. Ct. App. 2002). “Arkansas Code Annotated section 4-9-401(2) (Repl. 1991) provides: A filing which is made in good faith in an improper place or not in all of the places required by this section is nevertheless effective with regard to any collateral as to which the filing complied with the…”
River Valley Bank of Russellville v. Ace Sports Mgmt., LLC (In Re Ace Sports Mgmt., LLC), 271 B.R. 134 (Bankr. E.D. Ark. 2001). “Ark. Code Ann. § 4-9-401 (c) (Michie 1991).”
Womack v. Newman Fixture Co., 785 S.W.2d 226 (Ark. Ct. App. 1990). “" That opinion also holds that the word "knowledge" as used in Ark.Code Ann. § 4-9-401(2) (1987), means "actual rather than constructive knowledge" because that section says the filing of a financing statement "in good faith in an improper place" is effective against any person…”
Womack v. Newman Fixture Co., 766 S.W.2d 949 (Ark. Ct. App. 1989). “” That opinion also holds that the word “knowledge” as used in Ark. Code Ann. § 4-9-401 (2) (1987), means “actual rather than constructive knowledge” because that section say a the filing of a financing statement “in good faith in an improper place” is effective against any…”
Ark. Code Ann. § 4-9-401(c): 1 case
Int'l Ventures, Inc. v. Block Props. VII (In Re Int'l Ventures, Inc.), 214 B.R. 590 (Bankr. E.D. Ark. 1997). “§ 4-9-401(c), and the effect of the filing of the bankruptcy case is to render that interest unsecured, there is no diminution to the estate.”
Ark. Code Ann. § 4-9-401(l)(a): 1 case
Lawhon Farm Supply, Inc. v. Hayes, 870 S.W.2d 729 (Ark. 1994). “[3] Under § 4-9-401 (1)(a), perfecting a security interest in farm products requires filing in the county of the debtor's residence and, if crops growing or to be grown, in the county where the land is located.”
Ark. Code Ann. § 4-9-401(l)(c): 2 cases
Rice v. Fas Fax Corp. (In Re Hot Shots Burgers & Fries, Inc.), 169 B.R. 920 (Bankr. E.D. Ark. 1994). “” See Ark.Code Ann. § 4-9-401 (Michie Repl.1991).”
Rice v. Fas Fax Corp. (In Re Hot Shots Burgers & Fries, Inc.), 183 B.R. 848 (Bankr. E.D. Ark. 1995).
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.