Arkansas Code § 4-2a-307 - Priority of Liens Arising by Attachment or Levy On, Security Interests In, and Other Claims to Goods

(1) Except as otherwise provided in § 4-2A-306, a creditor of a lessee takes subject to the lease contract.

(2) Except as otherwise provided in subsection (3) and in §§ 4-2A-306 and 4-2A-308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.

(3) Except as otherwise provided in §§ 4-9-317, 4-9-321, and 4-9-323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor.

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Last modified: November 15, 2016