Alienability of debtor's rights
Known as the Uniform Commercial Code
The act spans §§ 4–4 (597 sections).
Applied in 2 court decisions — leading case River Valley Bank of Russellville v. Ace Sports Management, LLC (In Re Ace Sports Management, LLC) (2001)
Most recently applied in Bank of England v. Rice (In re Webb) (October 2014)
Acts 2001, No. 1439, § 1.
(1) Except as otherwise provided in subsection (b) and §§ 4-9-406 — 4-9-409, whether a debtor's rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this chapter.
(2) An agreement between the debtor and secured party which prohibits a transfer of the debtor's rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.
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.