Arkansas Code Title 4, Subtitle 1, Chapter 9, Part 6 - Default, Subpart 1 - Default and Enforcement of Security Interest

• § 4-9-601 - Rights After Default -- Judicial Enforcement -- Consignor or Buyer of Accounts, Chattel Paper, Payment Intangibles, or Promissory Notes.
  (a) After default, a secured party has the rights provided in this part and, except as otherwise provided in § 4-9-602, those provided by...
• § 4-9-602 - Waiver and Variance of Rights and Duties.
  Except as otherwise provided in § 4-9-624, to the extent that they give rights to a debtor or obligor and impose duties on a...
• § 4-9-603 - Agreement on Standards Concerning Rights and Duties.
  (a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of...
• § 4-9-604 - Procedure If Security Agreement Covers Real Property or Fixtures.
  (a) If a security agreement covers both personal and real property, a secured party may proceed: (1) under this part as to the personal...
• § 4-9-605 - Unknown Debtor or Secondary Obligor.
  A secured party does not owe a duty based on its status as secured party: (1) to a person that is a debtor or...
• § 4-9-606 - Time of Default for Agricultural Lien.
  For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce...
• § 4-9-607 - Collection and Enforcement by Secured Party.
  (a) If so agreed, and in any event after default, a secured party: (1) may notify an account debtor or other person obligated on...
• § 4-9-608 - Application of Proceeds of Collection or Enforcement -- Liability for Deficiency and Right to Surplus.
  (a) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party shall...
• § 4-9-609 - Secured Party's Right to Take Possession After Default.
  (a) After default, a secured party: (1) may take possession of the collateral; and (2) without removal, may render equipment unusable and dispose of...
• § 4-9-610 - Disposition of Collateral After Default.
  (a) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition...
• § 4-9-611 - Notification Before Disposition of Collateral.
  (a) In this section, "notification date" means the earlier of the date on which: (1) a secured party sends to the debtor and any...
• § 4-9-612 - Timeliness of Notification Before Disposition of Collateral.
  (a) Except as otherwise provided in subsection (b), whether a notification is sent within a reasonable time is a question of fact.(b) In a...
• § 4-9-613 - Contents and Form of Notification Before Disposition of Collateral: General.
  Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification of disposition are sufficient if the notification: (A) describes...
• § 4-9-614 - Contents and Form of Notification Before Disposition of Collateral: Consumer-Goods Transaction.
  In a consumer-goods transaction, the following rules apply: (1) A notification of disposition must provide the following information: (A) the information specified in §...
• § 4-9-615 - Application of Proceeds of Disposition -- Liability for Deficiency and Right to Surplus.
  (a) A secured party shall apply or pay over for application the cash proceeds of disposition under § 4-9-610 in the following order to:...
• § 4-9-616 - Explanation of Calculation of Surplus or Deficiency.
  (a) In this section: (1) "Explanation" means a writing that: (A) states the amount of the surplus or deficiency; (B) provides an explanation in...
• § 4-9-617 - Rights of Transferee of Collateral.
  (a) A secured party's disposition of collateral after default: (1) transfers to a transferee for value all of the debtor's rights in the collateral;...
• § 4-9-618 - Rights and Duties of Certain Secondary Obligors.
  (a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after the secondary obligor: (1) receives...
• § 4-9-619 - Transfer of Record or Legal Title.
  (a) In this section, "transfer statement" means a record authenticated by a secured party stating: (1) that the debtor has defaulted in connection with...
• § 4-9-620 - Acceptance of Collateral in Full or Partial Satisfaction of Obligation -- Compulsory Disposition of Collateral.
  (a) Except as otherwise provided in subsection (g), a secured party may accept collateral in full or partial satisfaction of the obligation it secures...
• § 4-9-621 - Notification of Proposal to Accept Collateral.
  (a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:...
• § 4-9-622 - Effect of Acceptance of Collateral.
  (a) A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures: (1) discharges the obligation to the extent...
• § 4-9-623 - Right to Redeem Collateral.
  (a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.(b) To redeem collateral, a person shall tender: (1)...
• § 4-9-624 - Waiver.
  (a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under § 4-9-611 only by an agreement to...

Last modified: November 15, 2016