Arkansas Code Annotated
Ark. Code Ann. § 4-9-402 (2026)
Secured party not obligated on contract of debtor or in tort
✓ current as of May 2026
The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.
History. Acts 2001, No. 1439, § 1.
Notes of Decisions
Cited in 11
cases, 1988–2013 · leading case: Heckathorn Constr. Co. v. Bass Mech. Contractors, Inc. (In Re Bass Mech. Contractors, Inc.), 84 B.R. 1009 (Bankr. W.D. Ark. 1988).
Heckathorn Constr. Co. v. Bass Mech. Contractors, Inc. (In Re Bass Mech. Contractors, Inc.), 84 B.R. 1009 (Bankr. W.D. Ark. 1988). “Heckat-hom, Haskell Johnson, Tyson and York-Shipley have contended that First National is not a secured creditor because the new financing statements were ineffective to perfect a security interest because the financing statements were not filed pursuant to A.C.A. § 4-9-402(7)…”
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). “See 4 White and Summers, supra, § 31-18 at 200 (discussing the meaning of “signed” pursuant to section 1-201(39) of the Uniform Commercial Code).”
Womack v. Newman Fixture Co., 766 S.W.2d 949 (Ark. Ct. App. 1989). “Ark. Code Ann. § 4-9-402 (1) (1987) provides: A financing statement is sufficient if it gives the names of the debtor and secured party, is signed by the debtor, gives an address of the secured party from which information concerning the security interest may be obtained, gives…”
Farm Credit Midsouth, PCA v. Reece Contracting, Inc., 196 S.W.3d 488 (Ark. 2004). “1985); see also Ark. Code Ann. § 4-9-402 (Supp. 1997). The financing statement is signed by James A.”
Bank of Yellville v. Scott (In Re Scott), 113 B.R. 516 (Bankr. W.D. Ark. 1990). “Ark.Code Ann. § 4-9-402(7), as amended in 1973, provides as follows: A financing statement sufficiently shows the name of the debtor if it gives the individual, partnership, or corporate name of the debtor, whether or not it adds other trade names or names of partners.”
Womack v. Newman Fixture Co., 785 S.W.2d 226 (Ark. Ct. App. 1990). “*231 As to the law with regard to the description required under section 85-9-402, (now Ark.Code Ann. § 4-9-402 (1987)), which deals with the filing of financing statements, 9 Anderson, Uniform Commercial Code § 9-402:6 (1985), contains the following discussion at 447-48: The…”
Meeks v. First Bank of South Arkansas (In Re Tracy's Flowers & Gifts, Inc.), 264 B.R. 1 (Bankr. E.D. Ark. 2001). “Ark.Code Ann. § 4-9-402(a) (Michie Supp. 1999).”
Newsom v. Rabo Agrifinance, Inc., 427 S.W.3d 688 (Ark. Ct. App. 2013). “See Ark.Code Ann. § 4-9-402(1) (Repl. 1991). The current version of the UCC eliminated that requirement.”
Scott Truck & Tractor Co. of Louisiana v. Alma Tractor & Equip., Inc., 35 S.W.3d 815 (Ark. Ct. App. 2000). “At the core of this case is the question of whether it was a minor error that was not seriously misleading, commensurate with Ark. Code Ann. § 4-9-402 (8) (Supp. 1999), when the name given for the debtor on a financing statement was “M.”
Faulkner v. Contractor's Glass Co. (In Re Contractor's Glass Co.), 152 B.R. 270 (Bankr. W.D. Ark. 1992). “Ark.Code Ann. § 4-9-402(1) (Michie 1991).”
Schieffler v. First Nat'l Bank of Wynne (In Re Peeler), 145 B.R. 973 (Bankr. E.D. Ark. 1992). “Here, the financing statement describes the real estate only as “Roy Peeler Farm located in Cross County, Arkansas.” A description that only describes the debtor’s name and the county and state where the real estate is located is not a sufficient description for purposes of Ark.”
— Ark. Code Ann. § 4-9-402(1) — 6 cases
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). “See 4 White and Summers, supra, § 31-18 at 200 (discussing the meaning of “signed” pursuant to section 1-201(39) of the Uniform Commercial Code).”
Farm Credit Midsouth, PCA v. Reece Contracting, Inc., 196 S.W.3d 488 (Ark. 2004). “1985); see also Ark. Code Ann. § 4-9-402 (Supp. 1997). The financing statement is signed by James A.”
Newsom v. Rabo Agrifinance, Inc., 427 S.W.3d 688 (Ark. Ct. App. 2013). “See Ark.Code Ann. § 4-9-402(1) (Repl. 1991). The current version of the UCC eliminated that requirement.”
Womack v. Newman Fixture Co., 785 S.W.2d 226 (Ark. Ct. App. 1990). “*231 As to the law with regard to the description required under section 85-9-402, (now Ark.Code Ann. § 4-9-402 (1987)), which deals with the filing of financing statements, 9 Anderson, Uniform Commercial Code § 9-402:6 (1985), contains the following discussion at 447-48: The…”
Faulkner v. Contractor's Glass Co. (In Re Contractor's Glass Co.), 152 B.R. 270 (Bankr. W.D. Ark. 1992). “Ark.Code Ann. § 4-9-402(1) (Michie 1991).”
— Ark. Code Ann. § 4-9-402(5) — 1 case
Womack v. Newman Fixture Co., 785 S.W.2d 226 (Ark. Ct. App. 1990). “*231 As to the law with regard to the description required under section 85-9-402, (now Ark.Code Ann. § 4-9-402 (1987)), which deals with the filing of financing statements, 9 Anderson, Uniform Commercial Code § 9-402:6 (1985), contains the following discussion at 447-48: The…”
— Ark. Code Ann. § 4-9-402(7) — 2 cases
Heckathorn Constr. Co. v. Bass Mech. Contractors, Inc. (In Re Bass Mech. Contractors, Inc.), 84 B.R. 1009 (Bankr. W.D. Ark. 1988). “Heckat-hom, Haskell Johnson, Tyson and York-Shipley have contended that First National is not a secured creditor because the new financing statements were ineffective to perfect a security interest because the financing statements were not filed pursuant to A.C.A. § 4-9-402(7)…”
Bank of Yellville v. Scott (In Re Scott), 113 B.R. 516 (Bankr. W.D. Ark. 1990). “Ark.Code Ann. § 4-9-402(7), as amended in 1973, provides as follows: A financing statement sufficiently shows the name of the debtor if it gives the individual, partnership, or corporate name of the debtor, whether or not it adds other trade names or names of partners.”
— Ark. Code Ann. § 4-9-402(8) — 2 cases
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). “See 4 White and Summers, supra, § 31-18 at 200 (discussing the meaning of “signed” pursuant to section 1-201(39) of the Uniform Commercial Code).”
Womack v. Newman Fixture Co., 785 S.W.2d 226 (Ark. Ct. App. 1990). “*231 As to the law with regard to the description required under section 85-9-402, (now Ark.Code Ann. § 4-9-402 (1987)), which deals with the filing of financing statements, 9 Anderson, Uniform Commercial Code § 9-402:6 (1985), contains the following discussion at 447-48: The…”
— Ark. Code Ann. § 4-9-402(a) — 1 case
Meeks v. First Bank of South Arkansas (In Re Tracy's Flowers & Gifts, Inc.), 264 B.R. 1 (Bankr. E.D. Ark. 2001). “Ark.Code Ann. § 4-9-402(a) (Michie Supp. 1999).”
— Ark. Code Ann. § 4-9-402(l) — 1 case
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). “See 4 White and Summers, supra, § 31-18 at 200 (discussing the meaning of “signed” pursuant to section 1-201(39) of the Uniform Commercial Code).”
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