Arkansas Statutes
§ 4-9-617 — Rights of transferee of collateral
Arkansas·Title 4
(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;
(2)discharges the security interest under which the disposition is made; and (3) discharges any subordinate security interest or other subordinate lien.
(b)A transferee that acts in good faith takes free of the rights and interests described in subsection (a), even if the secured party fails to comply with this chapter or the requirements of any judicial proceeding.
(c)If a transferee does not take free of the rights and interests described in subsection (a), the transferee takes the collateral subject to:
(1)the debtor's rights in the collateral;
(2)the security interest or agricultural lien under which the disposition is made; and (3) a
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Legislative History
Acts 2001, No. 1439, § 1.
Nearby Sections
15
§ 4-1-101
Short titles§ 4-1-102
Scope of subtitle§ 4-1-104
Construction against implicit repeal§ 4-1-105
Severability§ 4-1-106
Use of singular and plural - Gender§ 4-1-107
Section captions§ 4-1-201
General definitions§ 4-1-202
Notice - Knowledge§ 4-1-204
Value§ 4-1-205
Reasonable time - Seasonableness§ 4-1-206
Presumptions