The bill amends the Arkansas Uniform Commercial Code (UCC) to modernize and clarify various aspects of commercial transactions, particularly in relation to electronic records and secured transactions. Key changes include the updated definition of "conspicuous," which now considers the overall circumstances rather than specific formatting, and the expansion of the term "delivery" to include authoritative tangible copies of records. The bill introduces new definitions for terms such as "protected series," "hybrid transaction," and "controllable electronic record," while also clarifying that "money" excludes central bank digital currency. Additionally, the terminology is updated from "writing" to "record" to reflect the increasing use of electronic documentation, and the requirements for enforceability of contracts and lease agreements are streamlined.

Further amendments focus on the rights and responsibilities of secured parties and debtors, including the conditions under which security interests can be perfected and the priority of conflicting claims. The bill specifies that a secured party has control over controllable electronic records if they can prevent others from altering ownership and can transfer control. It also establishes that notifications regarding the disposition of collateral must include specific information and outlines the procedures for applying proceeds from such dispositions. Overall, the legislation aims to enhance clarity, efficiency, and security in commercial transactions, accommodating contemporary business practices and technological advancements.

Statutes affected:
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)
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)
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)