Arkansas Code Annotated

Ark. Code Ann. § 4-9-503 (2020)

Name of debtor and secured party

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A financing statement sufficiently provides the name of the debtor:
1. except as otherwise provided in paragraph (3), if the debtor is a registered organization or the collateral is held in a trust that is a registered organization, only if the financing statement provides the name that is stated to be the registered organization's name on the public organic record most recently filed with or issued or enacted by the registered organization's jurisdiction of organization which purports to state, amend, or restate the registered organization's name;
2. subject to subsection (f), if the collateral is being administered by the personal representative of a decedent, only if the financing statement provides, as the name of the debtor, the name of the decedent and, in a separate part of the financing statement, indicates that the collateral is being administered by a personal representative;
3. if the collateral is held in a trust that is not a registered organization, only if the financing statement:
  1. provides, as the name of the debtor:
    1. if the organic record of the trust specifies a name for the trust, the name specified; or
    2. if the organic record of the trust does not specify a name for the trust, the name of the settlor or testator; and
  2. in a separate part of the financing statement:
    1. if the name is provided in accordance with subparagraph (A)(i), indicates that the collateral is held in a trust; or
    2. if the name is provided in accordance with subparagraph (A)(ii), provides additional information sufficient to distinguish the trust from other trusts having one or more of the same settlors or the same testator and indicates that the collateral is held in a trust, unless the additional information so indicates;
4. subject to subsection (g), if the debtor is an individual to whom this state has issued a driver's license that has not expired, only if the financing statement provides the name of the individual which is indicated on the driver's license;
5. if the debtor is an individual to whom paragraph (4) does not apply, only if the financing statement provides the individual name of the debtor or the surname and first personal name of the debtor; and
6. in other cases:
  1. if the debtor has a name, only if the financing statement provides the organizational name of the debtor; and
  2. if the debtor does not have a name, only if it provides the names of the partners, members, associates, or other persons comprising the debtor, in a manner that each name provided would be sufficient if the person named were the debtor.
A financing statement that provides the name of the debtor in accordance with subsection (a) is not rendered ineffective by the absence of:
1. a trade name or other name of the debtor; or
2. unless required under subsection (a)(6)(B), names of partners, members, associates, or other persons comprising the debtor.
A financing statement that provides only the debtor's trade name does not sufficiently provide the name of the debtor.
Failure to indicate the representative capacity of a secured party or representative of a secured party does not affect the sufficiency of a financing statement.
A financing statement may provide the name of more than one (1) debtor and the name of more than one (1) secured party.
The name of the decedent indicated on the order appointing the personal representative of the decedent issued by the court having jurisdiction over the collateral is sufficient as the name of the decedent under subdivision (a)(2).
If this state has issued to an individual more than one driver's license of a kind described in subdivision (a)(4), the one that was issued most recently is the one to which subdivision (a)(4) refers.
In this section, the name of the settlor or testator means:
1. if the settlor is a registered organization, the name that is stated to be the settlor's name on the public organic record most recently filed with or issued or enacted by the settlor's jurisdiction of organization which purports to state, amend, or restate the settlor's name; or
2. in other cases, the name of the settlor or testator indicated in the trust's organic record.

History. Acts 2001, No. 1439, § 1; 2013, No. 138, § 16.

Amendments. The 2013 amendment rewrote (a); substituted “(a)(6)(B)” for “(a)(4)(B)” in (b)(2); and added (f) through (h).

Research References

ALR.

Sufficiency and Effectiveness of Designation of Debtor in Financing Statement under Uniform Commercial Code §§ 9-503 and 9-506 (Revised 2000). 28 A.L.R.6th 461.

Notes of Decisions

Cited in 7 cases (1 in the last 5 years), 1988–2025 · leading case: Mercedes-Benz Credit Corp. v. Morgan, 850 S.W.2d 297 (Ark. 1993).

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Mercedes-Benz Credit Corp. v. Morgan, 850 S.W.2d 297 (Ark. 1993). · cites it 4× “See also Ark.Code Ann. § 4-9-503 (1987). The court held that, because the Herrings were in default in their payments and their trucks had been peacefully repossessed, the Herrings had failed to present sufficient evidence to establish a fact question that the repossession of the…”

Bank of Yellville v. Scott (In re Scott), 113 B.R. 516 (Bankr. W.D. Ark. 1990). · cites it 2× “A secured party has a variety of remedies available, including the remedies provided in the security agreement (Ark.”

Grayson v. Bank of Little Rock, 971 S.W.2d 788 (Ark. 1998). “§ 4-9-503 (Repl. 1991). The secured party may enforce its claim by reducing the claim to judgment, foreclosing, or otherwise enforcing the security interest by any available judicial procedure.”

Walker v. Grant Cnty. Sav. & Loan Ass'n, 803 S.W.2d 913 (Ark. 1991). “Hence, the failure of the secured party to give written notice under § 4-9-503(4) of the Commercial Code or otherwise to establish the commercial reasonableness of the sale by written agreement with the debtor will bar the secured party from any right to a deficiency.”

Nw. Nat'l Bank v. Merrill Lynch, Pierce, Fenner & Smith, Inc., 757 S.W.2d 182 (Ark. Ct. App. 1988). · cites it 2× “Similarly, Ark. Code Ann. § 4-9-503 (1987) provides that “Unless otherwise agreed, a secured party has on default the right to take possession of the collateral.”

Bank of England v. Rice (In re Webb), 520 B.R. 748 (Bankr. E.D. Ark. 2014). · cites it 16× “Ark. Code Ann. § 4-9-503 (a)(4)(A) (2001).”

Helena Agri-Enter., LLC v. Simmons Bank, 725 S.W.3d 43 (Ark. Ct. App. 2025). · cites it 4× “It argued that FCSA’s financing statement did not contain the name of the debtor in accordance with Arkansas Code Annotated section 4-9-503(a) (Supp. 2017). FCSA argued that WLS and WLP were “distinct legal entities under Arkansas law,” and as a result, “Simmons Bank’s assertion…”

Ark. Code Ann. § 4-9-503(4): 1 case

Ark. Code Ann. § 4-9-503(a): 2 cases

Helena Agri-Enter., LLC v. Simmons Bank, 725 S.W.3d 43 (Ark. Ct. App. 2025). “It argued that FCSA’s financing statement did not contain the name of the debtor in accordance with Arkansas Code Annotated section 4-9-503(a) (Supp. 2017). FCSA argued that WLS and WLP were “distinct legal entities under Arkansas law,” and as a result, “Simmons Bank’s assertion…”