(a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.
(b) Except as otherwise provided in subsection (c) and § 4-9-508, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under § 4-9-506.
(c) If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under § 4-9-503(a) so that the financing statement becomes seriously misleading under § 4-9-506:
(1) the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four months after, the filed financing statement becomes seriously misleading; and
(2) the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four months after the financing statement became seriously misleading.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code
Chapter 9 - Secured Transactions
Subpart 1 - Filing Office — Contents and Effectiveness of Financing Statement
§ 4-9-503. Name of debtor and secured party
§ 4-9-504. Indication of collateral
§ 4-9-506. Effect of errors or omissions
§ 4-9-507. Effect of certain events on effectiveness of financing statement
§ 4-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement
§ 4-9-509. Persons entitled to file a record
§ 4-9-510. Effectiveness of filed record
§ 4-9-511. Secured party of record
§ 4-9-512. Amendment of financing statement
§ 4-9-513. Termination statement
§ 4-9-514. Assignment of powers of secured party of record
§ 4-9-515. Duration and effectiveness of financing statement — Effect of lapsed financing statement
§ 4-9-516. What constitutes filing — Effectiveness of filing
§ 4-9-517. Effect of indexing errors
§ 4-9-518. Claim concerning inaccurate or wrongfully filed record