Ark. Code Ann. § 4-9-331

Priority of rights of purchasers of instruments, documents, and securities under other chapters — Priority of interests in financial assets and security entitlements under Chapter 8

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Acts 2001, No. 1439, § 1.

(1) This chapter does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Chapter 3, Chapter 7, and Chapter 8.

(2) This chapter does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under Chapter 8.

(3) Filing under this chapter does not constitute notice of a claim or defense to the holders, or purchasers, or persons described in subsections (a) and (b).

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.