Arkansas Code Annotated

Ark. Code Ann. § 4-9-401 (2026)

Alienability of debtor's rights

✓ current as of May 2026

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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).

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Lawhon Farm Supply, Inc. v. Hayes, 870 S.W.2d 729 (Ark. 1994). · cites it 4× “[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). · cites it 6× “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). · cites it 6× “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). · cites it 2× “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). · cites it 5× “” 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). · cites it 4× “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). · cites it 4× “” See Ark.Code Ann. § 4-9-401 (Michie Repl.1991).”

Womack v. Newman Fixture Co., 785 S.W.2d 226 (Ark. Ct. App. 1990). · cites it 5× “" 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). · cites it 2× “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). · cites it 2× “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.”

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— 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

— Ark. Code Ann. § 4-9-401(l)(a) — 1 case

— 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).

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