The bill amends the Arkansas Uniform Commercial Code (UCC) to modernize and clarify various aspects of commercial transactions, particularly focusing on electronic records and security interests. Key changes include the introduction of new definitions such as "controllable electronic records," "controllable accounts," and "controllable payment intangibles," which specify how control over these assets is established. The bill also replaces the term "authenticated" with "signed" in multiple instances, broadening the scope of acceptable documentation for legal agreements. Additionally, it clarifies the conditions under which security interests are enforceable and outlines the responsibilities of secured parties regarding the management of collateral.

Furthermore, the bill sets a new effective date of September 1, 2026, for the perfection and enforceability of security interests, ensuring that unperfected interests remain enforceable under certain conditions until an adjustment date. It also specifies that priorities established before this date will be governed by previous law, while the new amendments will take precedence thereafter. Overall, the legislation aims to enhance clarity, protect consumer rights, and ensure that the legal framework governing secured transactions remains relevant in light of evolving commercial practices and technologies.

Statutes affected:
Old version HB1746 V2 - 4-9-2025 03:37 PM: 4-1-201(b), 4-1-204, 4-1-301, 4-2-402, 4-4-102, 04-09-2025, 4-5-116, 4-9-301, 4-9-307, 4-12-107, 4-1-306, 4-2-102, 4-2-106, 4-2-401, 4-2-201, 4-2-606, 4-2-202, 4-1-303, 4-2-203, 4-2-205, 4-2-209(2), 4-3-104(a), 4-3-105(a), 4-3-401, 4-3-402, 4-3-604, 4-5-104, 4-5-108(e), 4-5-103(c), 4-7-102(a), 4-7-106, 4-8-102(a), 4-8-102(b), 4-8-103, 4-8-106(d), 4-8-106, 4-8-110, 4-8-303(b), 4-9-102, 18-41-101, 18-41-103, 4-12-105, 4-7-201(b), 4-9-519(a), 4-9-501, 4-9-502(a), 4-9-105, 4-9-203(d), 4-9-310(c), 4-9-609(b), 4-9-620, 4-9-621, 4-9-622, 4-2-505, 4-2-711(3), 4-4-210, 4-5-118, 4-5-102, 4-8-102, 4-3-104, 4-12-102, 4-4-104, 4-3-302, 4-8-201, 4-7-102, 4-2-104, 4-5-114, 4-8-303, 4-3-103, 4-8-501, 4-11-102, 4-9-104(a), 4-9-203(b), 4-9-204, 4-9-315(a), 4-9-336(c), 4-9-207(c), 4-9-208(b), 4-9-209(b), 4-9-210, 4-9-303, 4-9-306, 4-9-304(a), 4-9-305(a), 4-9-310(b), 4-9-312, 4-9-315(c), 4-9-314, 4-9-308(d), 4-9-313, 4-9-313(a), 4-9-313(c), 4-9-313(d), 4-9-104, 4-9-106, 4-9-107, 4-9-316(a), 4-9-316(f), 4-9-317, 4-9-322, 4-9-320, 4-9-321, 4-9-323(d), 4-9-323(f), 4-9-324(b), 4-9-324(d), 4-9-330, 4-9-327, 4-9-331(a), 4-9-331, 4-9-332, 4-9-334(f), 4-9-341, 4-9-340(c), 4-9-404(a), 4-9-406, 4-9-407, 11-9-110(a), 4-9-408, 4-9-509(a), 4-9-513(b), 4-9-601(b), 4-9-605, 4-9-608(a), 4-9-611, 4-9-610, 4-9-311(a), 4-9-613, 4-9-614(3), 4-9-614(a), 4-9-614(b), 4-9-614, 4-9-613(1), 4-9-623, 4-9-615(a), 4-9-616(a), 4-9-619(a), 4-9-624, 4-9-621(a)
Old version HB1746 Original - 3-11-2025 04:46 PM: 4-1-201(b), 4-1-204, 4-1-301, 4-2-402, 4-4-102, 4-5-116, 4-9-301, 4-9-307, 4-12-107, 4-1-306, 4-2-102, 4-2-106, 4-2-401, 4-2-201, 4-2-606, 4-2-202, 4-1-303, 4-2-203, 4-2-205, 4-2-209(2), 4-3-104(a), 4-3-105(a), 4-3-401, 4-3-402, 4-3-604, 4-5-104, 4-5-108(e), 4-5-103(c), 4-7-102(a), 4-7-106, 4-8-102(a), 4-8-102(b), 4-8-103, 4-8-106(d), 4-8-106, 4-8-110, 4-8-303(b), 4-9-102, 18-41-101, 18-41-103, 4-12-105, 4-7-201(b), 4-9-519(a), 4-9-501, 4-9-502(a), 4-9-105, 4-9-203(d), 4-9-310(c), 4-9-609(b), 4-9-620, 4-9-621, 4-9-622, 4-2-505, 4-2-711(3), 4-4-210, 4-5-118, 4-5-102, 4-8-102, 4-3-104, 4-12-102, 4-4-104, 4-3-302, 4-8-201, 4-7-102, 4-2-104, 4-5-114, 4-8-303, 4-3-103, 4-8-501, 4-11-102, 4-9-104(a), 4-9-203(b), 4-9-204, 4-9-315(a), 4-9-336(c), 4-9-207(c), 4-9-208(b), 4-9-209(b), 4-9-210, 4-9-303, 4-9-306, 4-9-304(a), 4-9-305(a), 4-9-310(b), 4-9-312, 4-9-315(c), 4-9-314, 4-9-308(d), 4-9-313, 4-9-313(a), 4-9-313(c), 4-9-313(d), 4-9-104, 4-9-106, 4-9-107, 4-9-316(a), 4-9-316(f), 4-9-317, 4-9-322, 4-9-320, 4-9-321, 4-9-323(d), 4-9-323(f), 4-9-324(b), 4-9-324(d), 4-9-330, 4-9-327, 4-9-331(a), 4-9-331, 4-9-332, 4-9-334(f), 4-9-341, 4-9-340(c), 4-9-404(a), 4-9-406, 4-9-407, 11-9-110(a), 4-9-408, 4-9-509(a), 4-9-513(b), 4-9-601(b), 4-9-605, 4-9-608(a), 4-9-611, 4-9-610, 4-9-311(a), 4-9-613, 4-9-614(3), 4-9-614(a), 4-9-614(b), 4-9-614, 4-9-613(1), 4-9-623, 4-9-615(a), 4-9-616(a), 4-9-619(a), 4-9-624, 4-9-621(a)
HB 1746: 4-1-201(b), 4-1-204, 4-1-301, 4-2-402, 4-4-102, 4-5-116, 4-9-301, 4-9-307, 4-12-107, 4-1-306, 4-2-102, 4-2-106, 4-2-401, 4-2-201, 4-2-606, 4-2-202, 4-1-303, 4-2-203, 4-2-205, 4-2-209(2), 4-3-104(a), 4-3-105(a), 4-3-401, 4-3-402, 4-3-604, 4-5-104, 4-5-108(e), 4-5-103(c), 4-7-102(a), 4-7-106, 4-8-102(a), 4-8-102(b), 4-8-103, 4-8-106(d), 4-8-106, 4-8-110, 4-8-303(b), 4-9-102, 18-41-101, 18-41-103, 4-12-105, 4-7-201(b), 4-9-519(a), 4-9-501, 4-9-502(a), 4-9-105, 4-9-203(d), 4-9-310(c), 4-9-609(b), 4-9-620, 4-9-621, 4-9-622, 4-2-505, 4-2-711(3), 4-4-210, 4-5-118, 4-5-102, 4-8-102, 4-3-104, 4-12-102, 4-4-104, 4-3-302, 4-8-201, 4-7-102, 4-2-104, 4-5-114, 4-8-303, 4-3-103, 4-8-501, 4-11-102, 4-9-104(a), 4-9-203(b), 4-9-204, 4-9-315(a), 4-9-336(c), 4-9-207(c), 4-9-208(b), 4-9-209(b), 4-9-210, 4-9-303, 4-9-306, 4-9-304(a), 4-9-305(a), 4-9-310(b), 4-9-312, 4-9-315(c), 4-9-314, 4-9-308(d), 4-9-313, 4-9-313(a), 4-9-313(c), 4-9-313(d), 4-9-104, 4-9-106, 4-9-107, 4-9-316(a), 4-9-316(f), 4-9-317, 4-9-322, 4-9-320, 4-9-321, 4-9-323(d), 4-9-323(f), 4-9-324(b), 4-9-324(d), 4-9-330, 4-9-327, 4-9-331(a), 4-9-331, 4-9-332, 4-9-334(f), 4-9-341, 4-9-340(c), 4-9-404(a), 4-9-406, 4-9-407, 11-9-110(a), 4-9-408, 4-9-509(a), 4-9-513(b), 4-9-601(b), 4-9-605, 4-9-608(a), 4-9-611, 4-9-610, 4-9-311(a), 4-9-613, 4-9-614(3), 4-9-614(a), 4-9-614(b), 4-9-614, 4-9-613(1), 4-9-623, 4-9-615(a), 4-9-616(a), 4-9-619(a), 4-9-624, 4-9-621(a)
Act 997: 4-1-201(b), 4-1-204, 4-1-301, 4-2-402, 4-4-102, 04-09-2025, 4-5-116, 4-9-301, 4-9-307, 4-12-107, 4-1-306, 4-2-102, 4-2-106, 4-2-401, 4-2-201, 4-2-606, 4-2-202, 4-1-303, 4-2-203, 4-2-205, 4-2-209(2), 4-3-104(a), 4-3-105(a), 4-3-401, 4-3-402, 4-3-604, 4-5-104, 4-5-108(e), 4-5-103(c), 4-7-102(a), 4-7-106, 4-8-102(a), 4-8-102(b), 4-8-103, 4-8-106(d), 4-8-106, 4-8-110, 4-8-303(b), 4-9-102, 18-41-101, 18-41-103, 4-12-105, 4-7-201(b), 4-9-519(a), 4-9-501, 4-9-502(a), 4-9-105, 4-9-203(d), 4-9-310(c), 4-9-609(b), 4-9-620, 4-9-621, 4-9-622, 4-2-505, 4-2-711(3), 4-4-210, 4-5-118, 4-5-102, 4-8-102, 4-3-104, 4-12-102, 4-4-104, 4-3-302, 4-8-201, 4-7-102, 4-2-104, 4-5-114, 4-8-303, 4-3-103, 4-8-501, 4-11-102, 4-9-104(a), 4-9-203(b), 4-9-204, 4-9-315(a), 4-9-336(c), 4-9-207(c), 4-9-208(b), 4-9-209(b), 4-9-210, 4-9-303, 4-9-306, 4-9-304(a), 4-9-305(a), 4-9-310(b), 4-9-312, 4-9-315(c), 4-9-314, 4-9-308(d), 4-9-313, 4-9-313(a), 4-9-313(c), 4-9-313(d), 4-9-104, 4-9-106, 4-9-107, 4-9-316(a), 4-9-316(f), 4-9-317, 4-9-322, 4-9-320, 4-9-321, 4-9-323(d), 4-9-323(f), 4-9-324(b), 4-9-324(d), 4-9-330, 4-9-327, 4-9-331(a), 4-9-331, 4-9-332, 4-9-334(f), 4-9-341, 4-9-340(c), 4-9-404(a), 4-9-406, 4-9-407, 11-9-110(a), 4-9-408, 4-9-509(a), 4-9-513(b), 4-9-601(b), 4-9-605, 4-9-608(a), 4-9-611, 4-9-610, 4-9-311(a), 4-9-613, 4-9-614(3), 4-9-614(a), 4-9-614(b), 4-9-614, 4-9-613(1), 4-9-623, 4-9-615(a), 4-9-616(a), 4-9-619(a), 4-9-624, 4-9-621(a)