Arkansas Code
Subpart 3 - Priority
§ 4-9-321. Licensee of general intangible and lessee of goods in ordinary course of business

(a) In this section, “licensee in ordinary course of business” means a person that becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible, and in the ordinary course from a person in the business of licensing general intangibles of that kind. A person becomes a licensee in the ordinary course if the license to the person comports with the usual or customary practices in the kind of business in which the licensor is engaged or with the licensor's own usual or customary practices.
(b) A licensee in ordinary course of business takes its rights under a nonexclusive license free of a security interest in the general intangible created by the licensor, even if the security interest is perfected and the licensee knows of its existence.
(c) A lessee in ordinary course of business takes its leasehold interest free of a security interest in the goods created by the lessor, even if the security interest is perfected and the lessee knows of its existence.

Structure Arkansas Code

Arkansas Code

Title 4 - Business and Commercial Law

Subtitle 1 - Uniform Commercial Code

Chapter 9 - Secured Transactions

Part 3 - Perfection and Priority

Subpart 3 - Priority

§ 4-9-317. Interests that take priority over or take free of security interest or agricultural lien

§ 4-9-318. No interest retained in right to payment that is sold — Rights and title of seller of account or chattel paper with respect to creditors and purchasers

§ 4-9-319. Rights and title of consignee with respect to creditors and purchasers

§ 4-9-320. Buyer of goods

§ 4-9-321. Licensee of general intangible and lessee of goods in ordinary course of business

§ 4-9-322. Priorities among conflicting security interests in and agricultural liens on same collateral

§ 4-9-323. Future advances

§ 4-9-324. Priority of purchase-money security interests

§ 4-9-325. Priority of security interests in transferred collateral

§ 4-9-326. Priority of security interests created by new debtor

§ 4-9-327. Priority of security interests in deposit account

§ 4-9-328. Priority of security interests in investment property

§ 4-9-329. Priority of security interests in letter-of-credit right

§ 4-9-330. Priority of purchaser of chattel paper or instrument

§ 4-9-331. Priority of rights of purchasers of instruments, documents, and securities under other chapters — Priority of interests in financial assets and security entitlements under Chapter 8

§ 4-9-332. Transfer of money — Transfer of funds from deposit account

§ 4-9-333. Priority of certain liens arising by operation of law

§ 4-9-334. Priority of security interests in fixtures and crops

§ 4-9-335. Accessions

§ 4-9-336. Commingled goods

§ 4-9-337. Priority of security interests in goods covered by certificate of title

§ 4-9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information

§ 4-9-339. Priority subject to subordination