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Ark. Code Ann. § 4-9-314

Perfection by control

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Applied in 1 court decision — leading case Beal Bank, S.S.B. v. Fewell (In Re Fewell) (2006)

Most recently applied in Beal Bank, S.S.B. v. Fewell (In Re Fewell) (October 2006)

Acts 2001, No. 1439, § 1; 2007, No. 342, § 35.

(1) A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be perfected by control of the collateral under § 4-7-106, § 4-9-104, § 4-9-105, § 4-9-106, or § 4-9-107.

(2) A security interest in deposit accounts, electronic chattel paper, letter-of-credit rights, or electronic documents is perfected by control under § 4-7-106, § 4-9-104, § 4-9-105, § 4-9-106, or § 4-9-107 when the secured party obtains control and remains perfected by control only while the secured party retains control.

(3) A security interest in investment property is perfected by control under § 4-9-106 from the time the secured party obtains control and remains perfected by control until: the secured party does not have control; and

(4) one of the following occurs: if the collateral is a certificated security, the debtor has or acquires possession of the security certificate;

(5) if the collateral is an uncertificated security, the issuer has registered or registers the debtor as the registered owner; or

(6) if the collateral is a security entitlement, the debtor is or becomes the entitlement holder.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.