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Ark. Code Ann. § 4-9-325

Priority of security interests in transferred collateral

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Acts 2001, No. 1439, § 1.

(1) Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: the debtor acquired the collateral subject to the security interest created by the other person;

(2) the security interest created by the other person was perfected when the debtor acquired the collateral; and

(3) there is no period thereafter when the security interest is unperfected.

(4) Subsection (a) subordinates a security interest only if the security interest: otherwise would have priority solely under § 4-9-322(a) or § 4-9-324; or

(5) arose solely under § 4-2-711(3) or § 4-2A-508(5).

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.