{"data":{"id":"us-ar/ark.-code-ann.-4-11-104","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-11-104","heading":"Rights in virtual currency","body":"(a) In this section: (1) \"Adverse claim\" means a claim that a claimant has a property interest in a virtual currency and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the virtual currency. (2) \"Qualifying purchaser\" means a purchaser that obtains control of a virtual currency for value and without notice of any adverse claim. (b) Subject to subsections (c) through (h), law other than this chapter determines whether a person acquires rights in a virtual currency and the rights that the person acquires. (c) A purchaser of a virtual currency acquires all rights in the virtual currency that the transferor had or had power to transfer. (d) A purchaser of a limited interest in a virtual currency acquires rights only to the extent of the interest purchased. (e) In addition to acquiring the rights of a purchaser, a qualifying purchaser acquires its rights in a virtual currency free of any adverse claim. (f) An action based on an adverse claim to a virtual currency, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a qualifying purchaser that acquires its interest in, and obtains control of, the virtual currency for value and without notice of the adverse claim. (g) A person has notice of an adverse claim if: (1) the person knows of the adverse claim; or (2) the person is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information that would establish the existence of the adverse claim. (h) Filing of a financing statement under Chapter 9 is not notice of an adverse claim to a virtual currency. Added by Act 2021, No. 1078,§ 7, eff. 7/28/2021.\n\n(a) In this section: (1) \"Adverse claim\" means a claim that a claimant has a property interest in a virtual currency and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the virtual currency. (2) \"Qualifying purchaser\" means a purchaser that obtains control of a virtual currency for value and without notice of any adverse claim.\n\n(1) \"Adverse claim\" means a claim that a claimant has a property interest in a virtual currency and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the virtual currency.\n\n(2) \"Qualifying purchaser\" means a purchaser that obtains control of a virtual currency for value and without notice of any adverse claim.\n\n(b) Subject to subsections (c) through (h), law other than this chapter determines whether a person acquires rights in a virtual currency and the rights that the person acquires.\n\n(c) A purchaser of a virtual currency acquires all rights in the virtual currency that the transferor had or had power to transfer.\n\n(d) A purchaser of a limited interest in a virtual currency acquires rights only to the extent of the interest purchased.\n\n(e) In addition to acquiring the rights of a purchaser, a qualifying purchaser acquires its rights in a virtual currency free of any adverse claim.\n\n(f) An action based on an adverse claim to a virtual currency, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a qualifying purchaser that acquires its interest in, and obtains control of, the virtual currency for value and without notice of the adverse claim.\nuires its rights in a virtual currency free of any adverse claim.\n\n(f) An action based on an adverse claim to a virtual currency, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a qualifying purchaser that acquires its interest in, and obtains control of, the virtual currency for value and without notice of the adverse claim.\n\n(g) A person has notice of an adverse claim if: (1) the person knows of the adverse claim; or (2) the person is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information that would establish the existence of the adverse claim.\n\n(1) the person knows of the adverse claim; or\n\n(2) the person is aware of facts sufficient to indicate that there is a significant probability that the adverse claim exists and deliberately avoids information that would establish the existence of the adverse claim.\n\n(h) Filing of a financing statement under Chapter 9 is not notice of an adverse claim to a virtual currency.","path":["AR Code","Title 4","Chapter 11"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"0a38cdecc505be498bf8a52f0b169e986d878d5a4d8a3f0b3762b0f4f0b02f48","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-11-103","next":"us-ar/ark.-code-ann.-4-11-105"},"notice":"GroundRules: Original legal text. Not legal advice."}