Ark. Code Ann. § 2-17-230: Sale or pledge of receipts

A public grain warehouseman may make a valid sale or pledge of any warehouse receipts issued for grain of which the warehouseman is the owner, either solely or jointly in common with others. The recital of ownership in the receipt shall constitute notice of the right to sell or pledge the grains and of the title of specific lien of the transferee or pledgee upon the warehouseman's grain represented by the receipts.