(a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if:
(1) the debtor authorizes the filing in an authenticated record or pursuant to subsection (b) or (c); or
(2) the person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
(b) By authenticating or becoming bound as debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:
(1) the collateral described in the security agreement; and
(2) property that becomes collateral under § 4-9-315(a)(2), whether or not the security agreement expressly covers proceeds.
(c) By acquiring collateral in which a security interest or agricultural lien continues under § 4-9-315(a)(1), a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under § 4-9-315(a)(2).
(d) A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if:
(1) the secured party of record authorizes the filing; or
(2) the amendment is a termination statement for a financing statement as to which the secured party of record has failed to file or send a termination statement as required by § 4-9-513(a) or (c), the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.
(e) If there is more than one (1) secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (d).
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