Ark. Code Ann. § 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.