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Ark. Code Ann. § 4-9-704

Security interest unperfected before effective date

Known as the Uniform Commercial Code

The act spans §§ 4–4 (597 sections).

Acts 2001, No. 1439, § 1.

A security interest that is enforceable immediately before this act takes effect on July 1, 2001, but which would be subordinate to the rights of a person that becomes a lien creditor at that time:

(1) remains an enforceable security interest for one (1) year after this act takes effect;

(2) remains enforceable thereafter if the security interest becomes enforceable under § 4-9-203 when this act takes effect or within one (1) year thereafter; and

(3) becomes perfected: without further action, when this act takes effect if the applicable requirements for perfection under this act are satisfied before or at that time; or

(4) when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.

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.