reglab/housing_qa huggingface dataset:
AR Code § 4-9-104 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 1 - General Provisions|Subpart 1 - Short Title, Definitions, and General Concepts|§ 4-9-104. Control of deposit account

 (a) A secured party has control of a deposit account if:  (1) the secured party is the bank with which the deposit account is maintained;  (2) the debtor, secured party, and bank have agreed in an authenticated record that the bank will comply with instructions originated by the secured party directing disposition of the funds in the deposit account without further consent by the debtor; or  (3) the secured party becomes the bank's customer with respect to the deposit account.    (b) A secured party that has satisfied subsection (a) has control, even if the debtor retains the right to direct the disposition of funds from the deposit account.
AR Code § 4-9-105 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 1 - General Provisions|Subpart 1 - Short Title, Definitions, and General Concepts|§ 4-9-105. Control of electronic chattel paper

 (a) A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in the chattel paper reliably establishes the secured party as the person to which the chattel paper was assigned.  (b) A system satisfies subsection (a) if the record or records comprising the chattel paper are created, stored, and assigned in such a manner that:  (1) a single authoritative copy of the record or records exists which is unique, identifiable, and, except as otherwise provided in paragraphs (4), (5), and (6), unalterable;  (2) the authoritative copy identifies the secured party as the assignee of the record or records;  (3) the authoritative copy is communicated to and maintained by the secured party or its designated custodian;  (4) copies or amendments that add or change an identified assignee of the authoritative copy can be made only with the consent of the secured party;  (5) each copy of the authoritative copy and any copy of a copy is readily identifiable as a copy that is not the authoritative copy; and  (6) any amendment of the authoritative copy is readily identifiable as authorized or unauthorized.
AR Code § 4-9-106 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 1 - General Provisions|Subpart 1 - Short Title, Definitions, and General Concepts|§ 4-9-106. Control of investment property

 (a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in § 4-8-106.  (b) A secured party has control of a commodity contract if:  (1) the secured party is the commodity intermediary with which the commodity contract is carried; or  (2) the commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.    (c) A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account.
AR Code § 4-9-107 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 1 - General Provisions|Subpart 1 - Short Title, Definitions, and General Concepts|§ 4-9-107. Control of letter-of-credit right

 A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if the issuer or nominated person has consented to an assignment of proceeds of the letter of credit under § 4-5-114(c) or otherwise applicable law or practice.
AR Code § 4-9-108 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 1 - General Provisions|Subpart 1 - Short Title, Definitions, and General Concepts|§ 4-9-108. Sufficiency of description

 (a) Except as otherwise provided in subsections (c), (d), and (e), a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.  (b) Except as otherwise provided in subsection (d), a description of collateral reasonably identifies the collateral if it identifies the collateral by:  (1) specific listing;  (2) category;  (3) except as otherwise provided in subsection (e), a type of collateral defined in the Uniform Commercial Code;  (4) quantity;  (5) computational or allocational formula or procedure; or  (6) except as otherwise provided in subsection (c), any other method, if the identity of the collateral is objectively determinable.    (c) A description of collateral as “all the debtor's assets” or “all the debtor's personal property” or using words of similar import does not reasonably identify the collateral.  (d) Except as otherwise provided in subsection (e), a description of a security entitlement, securities account, or commodity account is sufficient if it describes:  (1) the collateral by those terms or as investment property; or  (2) the underlying financial asset or commodity contract.    (e) A description only by type of collateral defined in the Uniform Commercial Code is an insufficient description of:  (1) a commercial tort claim; or  (2) in a consumer transaction, consumer goods, a security entitlement, a securities account, or a commodity account.
AR Code § 4-9-110 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 1 - General Provisions|Subpart 2 - Applicability of Chapter|§ 4-9-110. Security interests arising under Chapter 2 or Chapter 2A

 A security interest arising under § 4-2-401, § 4-2-505, § 4-2-711(3), or § 4-2A-508(5) is subject to this chapter. However, until the debtor obtains possession of the goods:   (1) the security interest is enforceable, even if § 4-9-203(b)(3) has not been satisfied;  (2) filing is not required to perfect the security interest;  (3) the rights of the secured party after default by the debtor are governed by Chapter 2 or Chapter 2A; and  (4) the security interest has priority over a conflicting security interest created by the debtor.
AR Code § 4-9-201 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|Subpart 1 - Effectiveness and Attachment|§ 4-9-201. General effectiveness of security agreement

 (a) Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.  (b) A transaction subject to this chapter is subject to any applicable rule of law which establishes a different rule for consumers; to any other statute or rule of this state that regulates the rates, charges, agreements, and practices for loans, credit sales, or other extensions of credit; to rights for workers' compensation as provided in § 11-9-110(a); and to any consumer-protection statute or rule of this state.  (c) In case of conflict between this chapter and a rule of law, statute, or rule described in subsection (b), the rule of law, statute, or rule controls. Failure to comply with a statute or rule described in subsection (b) has only the effect the statute or rule specifies.  (d) This chapter does not:  (1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or rule described in subsection (b); or  (2) extend the application of the rule of law, statute, or rule to a transaction not otherwise subject to it.
AR Code § 4-9-202 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|Subpart 1 - Effectiveness and Attachment|§ 4-9-202. Title to collateral immaterial

 Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this chapter with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor.
AR Code § 4-9-204 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|Subpart 1 - Effectiveness and Attachment|§ 4-9-204. After-acquired property — Future advances

 (a) Except as otherwise provided in subsection (b), a security agreement may create or provide for a security interest in after-acquired collateral.  (b) A security interest does not attach under a term constituting an after-acquired property clause to:  (1) consumer goods, other than an accession when given as additional security, unless the debtor acquires rights in them within ten (10) days after the secured party gives value; or  (2) a commercial tort claim.    (c) A security agreement may provide that collateral secures, or that accounts, chattel paper, payment intangibles, or promissory notes are sold in connection with, future advances or other value, whether or not the advances or value are given pursuant to commitment.
AR Code § 4-9-205 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|Subpart 1 - Effectiveness and Attachment|§ 4-9-205. Use or disposition of collateral permissible

 (a) A security interest is not invalid or fraudulent against creditors solely because:  (1) the debtor has the right or ability to:  (A) use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;  (B) collect, compromise, enforce, or otherwise deal with collateral;  (C) accept the return of collateral or make repossessions; or  (D) use, commingle, or dispose of proceeds; or    (2) the secured party fails to require the debtor to account for proceeds or replace collateral.    (b) This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.
AR Code § 4-9-206 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|Subpart 1 - Effectiveness and Attachment|§ 4-9-206. Security interest arising in purchase or delivery of financial asset

 (a) A security interest in favor of a securities intermediary attaches to a person's security entitlement if:  (1) the person buys a financial asset through the securities intermediary in a transaction in which the person is obligated to pay the purchase price to the securities intermediary at the time of the purchase; and  (2) the securities intermediary credits the financial asset to the buyer's securities account before the buyer pays the securities intermediary.    (b) The security interest described in subsection (a) secures the person's obligation to pay for the financial asset.  (c) A security interest in favor of a person that delivers a certificated security or other financial asset represented by a writing attaches to the security or other financial asset if:  (1) the security or other financial asset:  (A) in the ordinary course of business is transferred by delivery with any necessary indorsement or assignment; and  (B) is delivered under an agreement between persons in the business of dealing with such securities or financial assets; and    (2) the agreement calls for delivery against payment.    (d) The security interest described in subsection (c) secures the obligation to make payment for the delivery.
AR Code § 4-9-207 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|Subpart 2 - Rights and Duties|§ 4-9-207. Rights and duties of secured party having possession or control of collateral

 (a) Except as otherwise provided in subsection (d), a secured party shall use reasonable care in the custody and preservation of collateral in the secured party's possession. In the case of chattel paper or an instrument, reasonable care includes taking necessary steps to preserve rights against prior parties unless otherwise agreed.  (b) Except as otherwise provided in subsection (d), if a secured party has possession of collateral:  (1) reasonable expenses, including the cost of insurance and payment of taxes or other charges, incurred in the custody, preservation, use, or operation of the collateral are chargeable to the debtor and are secured by the collateral;  (2) the risk of accidental loss or damage is on the debtor to the extent of a deficiency in any effective insurance coverage;  (3) the secured party shall keep the collateral identifiable, but fungible collateral may be commingled; and  (4) the secured party may use or operate the collateral:  (A) for the purpose of preserving the collateral or its value;  (B) as permitted by an order of a court having competent jurisdiction; or  (C) except in the case of consumer goods, in the manner and to the extent agreed by the debtor.      (c) Except as otherwise provided in subsection (d), a secured party having possession of collateral or control of collateral under § 4-7-106, § 4-9-104, § 4-9-105, § 4-9-106, or § 4-9-107:  (1) may hold as additional security any proceeds, except money or funds, received from the collateral;  (2) shall apply money or funds received from the collateral to reduce the secured obligation, unless remitted to the debtor; and  (3) may create a security interest in the collateral.    (d) If the secured party is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor:  (1) subsection (a) does not apply unless the secured party is entitled under an agreement:  (A) to charge back uncollected collateral; or  (B) otherwise to full or limited recourse against the debtor or a secondary obligor based on the nonpayment or other default of an account debtor or other obligor on the collateral; and    (2) subsections (b) and (c) do not apply.
AR Code § 4-9-209 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 2 - Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement|Subpart 2 - Rights and Duties|§ 4-9-209. Duties of secured party if account debtor has been notified of assignment

 (a) Except as otherwise provided in subsection (c), this section applies if:  (1) there is no outstanding secured obligation; and  (2) the secured party is not committed to make advances, incur obligations, or otherwise give value.    (b) Within ten (10) days after receiving an authenticated demand by the debtor, a secured party shall send to an account debtor that has received notification of an assignment to the secured party as assignee under § 4-9-406(a) an authenticated record that releases the account debtor from any further obligation to the secured party.  (c) This section does not apply to an assignment constituting the sale of an account, chattel paper, or payment intangible.
AR Code § 4-9-301 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 3 - Perfection and Priority|Subpart 1 - Law Governing Perfection and Priority|§ 4-9-301. Law governing perfection and priority of security interests

 Except as otherwise provided in §§ 4-9-303 — 4-9-306, the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:   (1) Except as otherwise provided in this section, while a debtor is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral.  (2) While collateral is located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a possessory security interest in that collateral.  (3) Except as otherwise provided in paragraph (4) of this section, while tangible negotiable documents, goods, instruments, money, or tangible chattel paper is located in a jurisdiction, the local law of that jurisdiction governs:  (A) perfection of a security interest in the goods by filing a fixture filing;  (B) perfection of a security interest in timber to be cut; and  (C) the effect of perfection or nonperfection and the priority of a nonpossessory security interest in the collateral.    (4) The local law of the jurisdiction in which the wellhead or minehead is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral.
AR Code § 4-9-302 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 3 - Perfection and Priority|Subpart 1 - Law Governing Perfection and Priority|§ 4-9-302. Law governing perfection and priority of agricultural liens

 While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of an agricultural lien on the farm products.
AR Code § 4-9-303 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 3 - Perfection and Priority|Subpart 1 - Law Governing Perfection and Priority|§ 4-9-303. Law governing perfection and priority of security interests in goods covered by a certificate of title

 (a) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose certificate of title the goods are covered and the goods or the debtor.  (b) Goods become covered by a certificate of title when a valid application for the certificate of title and the applicable fee are delivered to the appropriate authority. Goods cease to be covered by a certificate of title at the earlier of the time the certificate of title ceases to be effective under the law of the issuing jurisdiction or the time the goods become covered subsequently by a certificate of title issued by another jurisdiction.  (c) The local law of the jurisdiction under whose certificate of title the goods are covered governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in goods covered by a certificate of title from the time the goods become covered by the certificate of title until the goods cease to be covered by the certificate of title.
AR Code § 4-9-304 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 3 - Perfection and Priority|Subpart 1 - Law Governing Perfection and Priority|§ 4-9-304. Law governing perfection and priority of security interests in deposit accounts

 (a) The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a deposit account maintained with that bank.  (b) The following rules determine a bank's jurisdiction for purposes of this part:  (1) If an agreement between the bank and the debtor governing the deposit account expressly provides that a particular jurisdiction is the bank's jurisdiction for purposes of this part, this chapter, or this subtitle, that jurisdiction is the bank's jurisdiction.  (2) If paragraph (1) does not apply and an agreement between the bank and its customer governing the deposit account expressly provides that the agreement is governed by the law of a particular jurisdiction, that jurisdiction is the bank's jurisdiction.  (3) If neither paragraph (1) nor paragraph (2) applies and an agreement between the bank and its customer governing the deposit account expressly provides that the deposit account is maintained at an office in a particular jurisdiction, that jurisdiction is the bank's jurisdiction.  (4) If none of the preceding paragraphs applies, the bank's jurisdiction is the jurisdiction in which the office identified in an account statement as the office serving the customer's account is located.  (5) If none of the preceding paragraphs applies, the bank's jurisdiction is the jurisdiction in which the chief executive office of the bank is located.
AR Code § 4-9-306 (2020)
2020 Arkansas Code|Title 4 - Business and Commercial Law|Subtitle 1 - Uniform Commercial Code|Chapter 9 - Secured Transactions|Part 3 - Perfection and Priority|Subpart 1 - Law Governing Perfection and Priority|§ 4-9-306. Law governing perfection and priority of security interests in letter-of-credit rights

 (a) Subject to subsection (c), the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in a letter-of-credit right if the issuer's jurisdiction or nominated person's jurisdiction is a state.  (b) For purposes of this part, an issuer's jurisdiction or nominated person's jurisdiction is the jurisdiction whose law governs the liability of the issuer or nominated person with respect to the letter-of-credit right as provided in § 4-5-116.  (c) This section does not apply to a security interest that is perfected only under § 4-9-308(d).