Arkansas Code Title 2, Subtitle 2, Chapter 15, Subchapter 3 - Grain, Soybean, and Peanut Owner's Lien Act

• § 2-15-301 - Title.
  This subchapter shall be known and may be cited as the "Grain, Soybean, and Peanut Owner's Lien Act".
• § 2-15-302 - Definitions.
  As used in this subchapter: (1) "Affiliate" means a person that: (A) Is directly or indirectly controlled by a first purchaser; or (B) Directly...
• § 2-15-303 - Grain, Soybeans, or Peanuts Lien.
  (a) (1) To secure the obligations of a first purchaser to pay the sales price, a grain, soybean, or peanut owner is granted a...
• § 2-15-304 - Perfection of Grain, Soybean, or Peanut Lien.
  An owner's lien is perfected automatically from July 22, 2015 or the date a sales agreement is executed after July 22, 2015 without the...
• § 2-15-305 - Commingled Grain, Soybeans, or Peanuts -- Priority.
  (a) If grain, soybeans, or peanuts subject to an owner's lien are commingled with other grain, soybeans, or peanuts in a manner that the...
• § 2-15-306 - Transfer of Lien -- Priority.
  (a) (1) A purchaser or sales agent takes free of an owner's lien otherwise applicable to the grain, soybeans, or peanuts purchased and is...
• § 2-15-307 - Lien Priority Generally.
  Except for a permitted lien, an owner's lien takes priority over any other lien regardless of whether the lien arises by contract, law, equity,...
• § 2-15-308 - Applicability.
  (a) This subchapter does not affect the time at which legal title to grain, soybeans, or peanuts may pass by agreement or operation of...
• § 2-15-309 - Waiver, Relinquishment, or Release of Lien Prohibited.
  (a) (1) A grain, soybean, or peanut owner shall not be required as a condition or term of an agreement to sell or otherwise...
• § 2-15-310 - Lien Expiration -- Action on an Owner's Lien.
  (a) An owner's lien expires one (1) year after the last day of the month following the date the sales price from the sale...
• § 2-15-311 - Preference.
  If this subchapter conflicts with other rights a grain, soybean, or peanut owner may have, the grain, soybean, or peanut owner's right to receive...

Last modified: November 15, 2016