Arkansas Code Title 4, Subtitle 1, Chapter 9, Part 4 - Rights of Third Parties

• § 4-9-401 - Alienability of Debtor's Rights.
  (a) 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...
• § 4-9-402 - Secured Party Not Obligated on Contract of Debtor or in Tort.
  The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not...
• § 4-9-403 - Agreement Not to Assert Defenses Against Assignee.
  (a) In this section, "value" has the meaning provided in § 4-3-303(a).(b) Except as otherwise provided in this section, an agreement between an account...
• § 4-9-404 - Rights Acquired by Assignee -- Claims and Defenses Against Assignee.
  (a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subsections (b)-(e), the rights of...
• § 4-9-405 - Modification of Assigned Contract.
  (a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires corresponding...
• § 4-9-406 - Discharge of Account Debtor -- Notification of Assignment -- Identification and Proof of Assignment -- Restrictions on Assignment of Accounts, Chattel Paper, Payment Intangibles, and Promissory Notes Ineffective.
  (a) Subject to subsections (b)-(i), an account debtor on an account, chattel paper, or a payment intangible may discharge its obligation by paying the...
• § 4-9-407 - Restrictions on Creation or Enforcement of Security Interest in Leasehold Interest or in Lessor's Residual Interest.
  (a) Except as otherwise provided in subsection (b), a term in a lease agreement is ineffective to the extent that it: (1) prohibits, restricts,...
• § 4-9-408 - Restrictions on Assignment of Promissory Notes, Health-Care-Insurance Receivables, and Certain General Intangibles Ineffective.
  (a) Except as otherwise provided in subsection (b), a term in a promissory note or in an agreement between an account debtor and a...
• § 4-9-409 - Restrictions on Assignment of Letter-Of-credit Rights Ineffective.
  (a) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit...

Last modified: November 15, 2016