{"data":{"id":"us-ar/ark.-code-ann.-4-9-323","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-9-323","heading":"Future advances.","body":"(a) Except as otherwise provided in subsection (c), for purposes of determining the priority of a perfected security interest under § 4-9-322(a)(1), perfection of the security interest dates from the time an advance is made to the extent that the security interest secures an advance that:\n(1) is made while the security interest is perfected only:\n(A) under § 4-9-309 when it attaches; or\n(B) temporarily under § 4-9-312(e), (f), or (g); and\n(2) is not made pursuant to a commitment entered into before or while the security interest is perfected by a method other than under § 4-9-309 or § 4-9-312(e), (f), or (g).\n(b) Except as otherwise provided in subsection (c), a security interest is subordinate to the rights of a person that becomes a lien creditor to the extent that the security interest secures an advance made more than forty-five (45) days after the person becomes a lien creditor unless the advance is made:\n(1) without knowledge of the lien; or\n(2) pursuant to a commitment entered into without knowledge of the lien.\n(c) Subsections (a) and (b) do not apply to a security interest held by a secured party that is a buyer of accounts, chattel paper, payment intangibles, or promissory notes or a consignor.\n(d) Except as otherwise provided in subsection (e), a buyer of goods other than a buyer in ordinary course of business takes free of a security interest to the extent that it secures advances made after the earlier of:\n(1) the time the secured party acquires knowledge of the buyer's purchase; or\n(2) forty-five (45) days after the purchase.\n(e) Subsection (d) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the buyer's purchase and before the expiration of the forty-five-day period.\n(f) Except as otherwise provided in subsection (g), a lessee of goods, other than a lessee in ordinary course of business, takes the leasehold interest free of a security interest to the extent that it secures advances made after the earlier of:\n(1) the time the secured party acquires knowledge of the lease; or\n(2) forty-five (45) days after the lease contract becomes enforceable.\n(g) Subsection (f) does not apply if the advance is made pursuant to a commitment entered into without knowledge of the lease and before the expiration of the forty-five-day period.","path":["Title 4 Business and Commercial Law","Subtitle 1. Uniform Commercial Code","Chapter 9 Secured Transactions","Part 3 — Perfection and Priority","Subpart 3 Priority"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T21:07:03Z","sha256":"f67dd65d69210979c8f38d3e4d27bcca2e46e41f8c810f560dc21c0040ec4dcd","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-9-322","next":"us-ar/ark.-code-ann.-4-9-324"},"notice":"GroundRules: Original legal text. Not legal advice."}