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Ark. Code Ann. § 4-9-506

Effect of errors or omissions

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Applied in 1 court decision — leading case Bank of England v. Rice (In re Webb) (2014)

Most recently applied in Bank of England v. Rice (In re Webb) (October 2014)

Acts 2001, No. 1439, § 1.

(1) A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the errors or omissions make the financing statement seriously misleading.

(2) Except as otherwise provided in subsection (c), a financing statement that fails sufficiently to provide the name of the debtor in accordance with § 4-9-503(a) is seriously misleading.

(3) If a search of the records of the filing office under the debtor's correct name, using the filing office's standard search logic, if any, would disclose a financing statement that fails sufficiently to provide the name of the debtor in accordance with § 4-9-503(a), the name provided does not make the financing statement seriously misleading.

(4) For purposes of § 4-9-508(b), the “debtor's correct name” in subsection (c) means the correct name of the new debtor.

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.