Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code

§ 4-1-103. Construction of subtitle to promote its purposes and policies — Applicability of supplemental principles of law - (a) This subtitle shall be liberally construed and applied to...

§ 4-1-104. Construction against implicit repeal - This subtitle being a general act intended as a unified...

§ 4-1-105. Severability - If any provision or clause of this subtitle or its...

§ 4-1-106. Use of singular and plural — Gender - In this subtitle, unless the statutory context otherwise requires: (1)...

§ 4-1-107. Section captions - Section captions are part of this subtitle. History. Acts 1961,...

§ 4-1-108. Relation to Electronic Signatures in Global and National Commerce Act - This subtitle modifies, limits, and supersedes the federal Electronic Signatures...

Part 2 - General Definitions and Principles of Interpretation

§ 4-1-201. General definitions - (a) Unless the context otherwise requires, words or phrases defined...

§ 4-1-202. Notice — Knowledge - (a) Subject to subsection (f), a person has “notice” of...

§ 4-1-203. Lease distinguished from security interest - (a) Whether a transaction in the form of a lease...

§ 4-1-204. Value - Except as otherwise provided in Chapters 3, 4, and 5,...

§ 4-1-205. Reasonable time — Seasonableness - (a) Whether a time for taking an action required by...

§ 4-1-206. Presumptions - Whenever this subtitle creates a “presumption” with respect to a...

Part 3 - Territorial Applicability and General Rules

§ 4-1-301. Territorial application of the subtitle — Parties' power to choose applicable law - (1) Except as provided in this section, when a transaction...

§ 4-1-302. Variation by agreement - (a) Except as otherwise provided in subsection (b) or elsewhere...

§ 4-1-303. Course of performance — Course of dealing — Usage of trade - (a) A “course of performance” is a sequence of conduct...

§ 4-1-304. Obligation of good faith - Every contract or duty within this subtitle imposes an obligation...

§ 4-1-305. Remedies to be liberally administered - (a) The remedies provided by this subtitle must be liberally...

§ 4-1-306. Waiver or renunciation of claim or right after breach - A claim or right arising out of an alleged breach...

§ 4-1-307. Prima facie evidence by third-party documents - A document in due form purporting to be a bill...

§ 4-1-308. Performance or acceptance under reservation of rights - (a) A party that with explicit reservation of rights performs...

§ 4-1-309. Option to accelerate at will - A term providing that one party or that party's successor...

§ 4-1-310. Subordinated obligations - An obligation may be issued as subordinated to performance of...

Chapter 2 - Sales

Part 1 - Short Title, General Construction, and Subject Matter

§ 4-2-101. Short title - This chapter shall be known and may be cited as...

§ 4-2-102. Scope — Certain security and other transactions excluded from chapter - Unless the context otherwise requires, this chapter applies to transactions...

§ 4-2-103. Definitions and index of definitions - (a) In this chapter unless the context otherwise requires: (1)...

§ 4-2-104. Definitions — “Merchant” — “Between merchants” — “Financing agency” - (1) “Merchant” means a person who deals in goods of...

§ 4-2-105. Definitions — Transferability — “Goods” — “Future” goods — “Lot” — “Commercial unit” - (1) “Goods” means all things (including specially manufactured goods) which...

§ 4-2-106. Definitions — “Contract” — “Agreement” — “Contract for sale” — “Sale” — “Present sale” — “Conforming” to contract — “Termination” — “Cancellation” - (1) In this chapter unless the context otherwise requires “contract”...

§ 4-2-107. Goods to be severed from realty — Recording - (1) A contract for the sale of minerals or the...

Part 2 - Form, Formation, and Readjustment of Contract

§ 4-2-201. Formal requirements — Statute of frauds - (1) Except as otherwise provided in this section a contract...

§ 4-2-202. Final written expression — Parol or extrinsic evidence - Terms with respect to which the confirmatory memoranda of the...

§ 4-2-203. Seals inoperative - The affixing of a seal to a writing evidencing a...

§ 4-2-204. Formation in general - (1) A contract for sale of goods may be made...

§ 4-2-205. Firm offers - An offer by a merchant to buy or sell goods...

§ 4-2-206. Offer and acceptance in formation of contract - (a) Unless otherwise unambiguously indicated by the language or circumstances...

§ 4-2-207. Additional terms in acceptance or confirmation - (a) A definite and seasonable expression of acceptance or a...

§ 4-2-209. Modification, rescission, and waiver - (1) An agreement modifying a contract within this chapter needs...

§ 4-2-210. Delegation of performance — Assignment of rights - (1) A party may perform his duty through a delegate...

Part 3 - General Obligation and Construction of Contract

§ 4-2-301. General obligation of parties - The obligation of the seller is to transfer and deliver...

§ 4-2-302. Unconscionable contract or clause - (1) If the court as a matter of law finds...

§ 4-2-303. Allocation or division of risks - Where this chapter allocates a risk or a burden as...

§ 4-2-304. Price payable in money, goods, realty, or otherwise - (1) The price can be made payable in money or...

§ 4-2-305. Open price term - (a) The parties if they so intend can conclude a...

§ 4-2-306. Output, requirements, and exclusive dealings - (1) A term which measures the quantity by the output...

§ 4-2-307. Delivery in single lot or several lots - Unless otherwise agreed all goods called for by a contract...

§ 4-2-308. Absence of specified place for delivery - Unless otherwise agreed (a) the place for delivery of goods...

§ 4-2-309. Absence of specific time provisions — Notice of termination - (1) The time for shipment or delivery or any other...

§ 4-2-310. Open time for payment or running of credit — Authority to ship under reservation - Unless otherwise agreed (a) payment is due at the time...

§ 4-2-311. Options and cooperation respecting performance - (1) An agreement for sale which is otherwise sufficiently definite...

§ 4-2-312. Warranty of title and against infringements — Buyer's obligation against infringement - (1) Subject to subsection (2) there is in a contract...

§ 4-2-313. Express warranties by affirmation, promise, description, sample - (1) Express warranties by the seller are created as follows:...

§ 4-2-314. Implied warranty — Merchantability — Usage of trade - (1) Unless excluded or modified (§ 4-2-316), a warranty that...

§ 4-2-315. Implied warranty — Fitness for particular purpose - Where the seller at the time of contracting has reason...

§ 4-2-316. Exclusion or modification of warranties - (a) Words or conduct relevant to the creation of an...

§ 4-2-317. Cumulation and conflict of warranties express or implied - Warranties whether express or implied shall be construed as consistent...

§ 4-2-318. Third party beneficiaries of warranties express or implied - A seller's warranty whether express or implied extends to any...

§ 4-2-319. F.O.B. and F.A.S. terms - (a) Unless otherwise agreed the terms F.O.B. (which means “free...

§ 4-2-320. C.I.F. and C. & F. terms - (a) The term C.I.F. means that the price includes in...

§ 4-2-321. C.I.F. or C. & F. — “Net landed weights” — “Payment on arrival” — Warranty of condition on arrival - Under a contract containing a term C.I.F. or C. &...

§ 4-2-322. Delivery “ex-ship” - (a) Unless otherwise agreed a term for delivery of goods...

§ 4-2-323. Form of bill of lading required in overseas shipment — “Overseas” - (a) Where the contract contemplates overseas shipment and contains a...

§ 4-2-324. “No arrival, no sale” term - Under a term, “no arrival, no sale” or terms of...

§ 4-2-325. “Letter of credit” term — “Confirmed credit” - (1) Failure of the buyer seasonably to furnish an agreed...

§ 4-2-326. Sale on approval and sale or return — Rights of creditors - (a) Unless otherwise agreed, if delivered goods may be returned...

§ 4-2-327. Special incidents of sale on approval and sale or return - (a) Under a sale on approval unless otherwise agreed (1)...

§ 4-2-328. Sale by auction - (1) In a sale by auction if goods are put...

Part 4 - Title, Creditors, and Good Faith Purchasers

§ 4-2-401. Passing of title — Reservation for security — Limited application of section - Each provision of this chapter with regard to the rights,...

§ 4-2-402. Rights of seller's creditors against sold goods - (a) Except as provided in subsections (2) and (3), rights...

§ 4-2-403. Power to transfer — Good faith purchase of goods — “Entrusting” - (a) A purchaser of goods acquires all title which his...

Part 5 - Performance

§ 4-2-501. Insurable interest in goods — Manner of identification of goods - (a) The buyer obtains a special property and an insurable...

§ 4-2-502. Buyer's right to goods on seller's repudiation, failure to deliver, or insolvency - (a) Subject to subsections (2) and (3) and even though...

§ 4-2-503. Manner of seller's tender of delivery - (a) Tender of delivery requires that the seller put and...

§ 4-2-504. Shipment by seller - Where the seller is required or authorized to send the...

§ 4-2-505. Seller's shipment under reservation - (a) Where the seller has identified goods to the contract...

§ 4-2-506. Rights of financing agency - (1) A financing agency by paying or purchasing for value...

§ 4-2-507. Effect of seller's tender — Delivery on condition - (1) Tender of delivery is a condition to the buyer's...

§ 4-2-508. Cure by seller of improper tender or delivery — Replacement - (1) Where any tender or delivery by the seller is...

§ 4-2-509. Risk of loss in the absence of breach - (a) Where the contract requires or authorizes the seller to...

§ 4-2-510. Effect of breach on risk of loss - (1) Where a tender or delivery of goods so fails...

§ 4-2-511. Tender of payment by buyer — Payment by check - (1) Unless otherwise agreed tender of payment is a condition...

§ 4-2-512. Payment by buyer before inspection - (a) Where the contract requires payment before inspection non-conformity of...

§ 4-2-513. Buyer's right to inspection of goods - (a) Unless otherwise agreed and subject to subsection (3), where...

§ 4-2-514. When documents deliverable on acceptance — When on payment - Unless otherwise agreed documents against which a draft is drawn...

§ 4-2-515. Preserving evidence of goods in dispute - In furtherance of the adjustment of any claim or dispute...

Part 6 - Breach, Repudiation, and Excuse

§ 4-2-601. Buyer's rights on improper delivery - Subject to the provisions of this chapter on breach in...

§ 4-2-602. Manner and effect of rightful rejection - (a) Rejection of goods must be within a reasonable time...

§ 4-2-603. Merchant buyer's duties as to rightfully rejected goods - (1) Subject to any security interest in the buyer (§...

§ 4-2-604. Buyer's options as to salvage of rightfully rejected goods - Subject to the provisions of the immediately preceding section on...

§ 4-2-605. Waiver of buyer's objections by failure to particularize - (a) The buyer's failure to state in connection with rejection...

§ 4-2-606. What constitutes acceptance of goods - (a) Acceptance of goods occurs when the buyer (1) after...

§ 4-2-607. Effect of acceptance — Notice of breach — Burden of establishing breach after acceptance — Notice of claim or litigation to person answerable over - (a) The buyer must pay at the contract rate for...

§ 4-2-608. Revocation of acceptance in whole or in part - (a) The buyer may revoke his acceptance of a lot...

§ 4-2-609. Right to adequate assurance of performance - (1) A contract for sale imposes an obligation on each...

§ 4-2-610. Anticipatory repudiation - When either party repudiates the contract with respect to a...

§ 4-2-611. Retraction of anticipatory repudiation - (1) Until the repudiating party's next performance is due he...

§ 4-2-612. “Installment contract” — Breach - (1) An “installment contract” is one which requires or authorizes...

§ 4-2-613. Casualty to identified goods - Where the contract requires for its performance goods identified when...

§ 4-2-614. Substituted performance - (1) Where without fault of either party the agreed berthing,...

§ 4-2-615. Excuse by failure of presupposed conditions - Except so far as a seller may have assumed a...

§ 4-2-616. Procedure on notice claiming excuse - (a) Where the buyer receives notification of a material or...

Part 7 - Remedies

§ 4-2-701. Remedies for breach of collateral contracts not impaired - Remedies for breach of any obligation or promise collateral or...

§ 4-2-702. Seller's remedies on discovery of buyer's insolvency - (1) Where the seller discovers the buyer to be insolvent...

§ 4-2-703. Seller's remedies in general - Where the buyer wrongfully rejects or revokes acceptance of goods...

§ 4-2-704. Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods - (1) An aggrieved seller under the preceding section may (a)...

§ 4-2-705. Seller's stoppage of delivery in transit or otherwise - (a) The seller may stop delivery of goods in the...

§ 4-2-706. Seller's resale including contract for resale - (a) Under the conditions stated in § 4-2-703 on seller's...

§ 4-2-707. “Person in the position of a seller.” - (1) A “person in the position of a seller” includes...

§ 4-2-708. Seller's damages for non-acceptance or repudiation - (1) Subject to subsection (2) and to the provisions of...

§ 4-2-709. Action for the price - (a) When the buyer fails to pay the price as...

§ 4-2-710. Seller's incidental damages - Incidental damages to an aggrieved seller include any commercially reasonable...

§ 4-2-711. Buyer's remedies in general — Buyer's security interest in rejected goods - (a) Where the seller fails to make delivery or repudiates...

§ 4-2-712. “Cover” — Buyer's procurement of substitute goods - (1) After a breach within the preceding section the buyer...

§ 4-2-713. Buyer's damages for nondelivery or repudiation - (1) Subject to the provisions of this chapter with respect...

§ 4-2-714. Buyer's damages for breach in regard to accepted goods - (1) Where the buyer has accepted goods and given notification...

§ 4-2-715. Buyer's incidental and consequential damages - (a) Incidental damages resulting from the seller's breach include expenses...

§ 4-2-716. Buyer's right to specific performance or replevin - (1) Specific performance may be decreed where the goods are...

§ 4-2-717. Deduction of damages from the price - The buyer on notifying the seller of his intention to...

§ 4-2-718. Liquidation or limitation of damages — Deposits - (a) Damages for breach by either party may be liquidated...

§ 4-2-719. Contractual modification or limitation of remedy - (a) Subject to the provisions of subsections (2) and (3)...

§ 4-2-720. Effect of “cancellation” or “rescission” on claims for antecedent breach - Unless the contrary intention clearly appears, expressions of “cancellation” or...

§ 4-2-721. Remedies for fraud - Remedies for material misrepresentation or fraud include all remedies available...

§ 4-2-722. Who can sue third parties for injury to goods - Where a third party so deals with goods which have...

§ 4-2-723. Proof of market price — Time and place - (1) If an action based on anticipatory repudiation comes to...

§ 4-2-724. Admissibility of market quotations - Whenever the prevailing price or value of any goods regularly...

§ 4-2-725. Statute of limitations in contracts for sale - (1) An action for breach of any contract for sale...

Chapter 2A - Leases

Part 1 - General Provisions

§ 4-2A-101. Short title - This chapter shall be known and may be cited as...

§ 4-2A-102. Scope - This chapter applies to any transaction, regardless of form, that...

§ 4-2A-103. Definitions and index of definitions - (a) In this chapter unless the context otherwise requires: (1)...

§ 4-2A-104. Leases subject to other law - (a) A lease, although subject to this chapter, is also...

§ 4-2A-105. Territorial application of chapter to goods covered by certificate of title - Subject to the provisions of §§ 4-2A-304(3) and 4-2A-305(3), with...

§ 4-2A-106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum - (1) If the law chosen by the parties to a...

§ 4-2A-107. Waiver or renunciation of claim or right after default - Any claim or right arising out of an alleged default...

§ 4-2A-108. Unconscionability - (1) If the court as a matter of law finds...

§ 4-2A-109. Option to accelerate at will - (1) A term providing that one party or his or...

§ 4-2A-110. Terminal rental adjustment clauses for vehicle leases — Not sales or security interests - In the case of motor vehicles and trailers, notwithstanding any...

Part 2 - Formation and Construction of Lease Contract

§ 4-2A-201. Statute of frauds - (a) A lease contract is not enforceable by way of...

§ 4-2A-202. Final written expression — Parol or extrinsic evidence - Terms with respect to which the confirmatory memoranda of the...

§ 4-2A-203. Seals inoperative - The affixing of a seal to a writing evidencing a...

§ 4-2A-204. Formation in general - (1) A lease contract may be made in any manner...

§ 4-2A-205. Firm offers - An offer by a merchant to lease goods to or...

§ 4-2A-206. Offer and acceptance in formation of lease contract - (1) Unless otherwise unambiguously indicated by the language or circumstances,...

§ 4-2A-208. Modification — Rescission — Waiver - (1) An agreement modifying a lease contract needs no consideration...

§ 4-2A-209. Lessee under finance lease as beneficiary of supply contract - (1) The benefit of a supplier's promises to the lessor...

§ 4-2A-210. Express warranties - (a) Express warranties by the lessor are created as follows:...

§ 4-2A-211. Warranties against interference and against infringement — Lessee's obligation against infringement - (1) There is in a lease contract a warranty that...

§ 4-2A-212. Implied warranty of merchantability - (a) Except in a finance lease, a warranty that the...

§ 4-2A-213. Implied warranty of fitness for particular purpose - Except in a finance lease, if the lessor at the...

§ 4-2A-214. Exclusion or modification of warranties - (a) Words or conduct relevant to the creation of an...

§ 4-2A-215. Cumulation and conflict of warranties express or implied - Warranties, whether express or implied, must be construed as consistent...

§ 4-2A-216. Third-party beneficiaries of express and implied warranties - A warranty to or for the benefit of a lessee...

§ 4-2A-217. Identification - Identification of goods as goods to which a lease contract...

§ 4-2A-218. Insurance and proceeds - (1) A lessee obtains an insurable interest when existing goods...

§ 4-2A-219. Risk of loss - (a) Except in the case of a finance lease, risk...

§ 4-2A-220. Effect of default on risk of loss - (a) Where risk of loss is to pass to the...

§ 4-2A-221. Casualty to identified goods - If a lease contract requires goods identified when the lease...

Part 3 - Effect of Lease Contract

§ 4-2A-301. Enforceability of lease contract - Except as otherwise provided in this chapter, a lease contract...

§ 4-2A-302. Title to and possession of goods - Except as otherwise provided in this chapter, each provision of...

§ 4-2A-303. Alienability of party's interest under lease contract or of lessor's residual interest in goods — Delegation of performance — Transfer of rights - (a) As used in this section, “creation of a security...

§ 4-2A-304. Subsequent lease of goods by lessor - (a) Subject to § 4-2A-303, a subsequent lessee from a...

§ 4-2A-305. Sale or sublease of goods by lessee - (a) Subject to the provisions of § 4-2A-303, a buyer...

§ 4-2A-306. Priority of certain liens arising by operation of law - If a person in the ordinary course of his or...

§ 4-2A-307. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods - (1) Except as otherwise provided in § 4-2A-306, a creditor...

§ 4-2A-308. Special rights of creditors - (1) A creditor of a lessor in possession of goods...

§ 4-2A-309. Lessor's and lessee's rights when goods become fixtures - (a) In this section: (1) goods are “fixtures” when they...

§ 4-2A-310. Lessor's and lessee's rights when goods become accessions - (a) Goods are “accessions” when they are installed in or...

§ 4-2A-311. Priority subject to subordination - Nothing in this chapter prevents subordination by agreement by any...

Part 4 - Performance of Lease Contract: Repudiated, Substituted and Excused

§ 4-2A-401. Insecurity — Adequate assurance of performance - (1) A lease contract imposes an obligation on each party...

§ 4-2A-402. Anticipatory repudiation - If either party repudiates a lease contract with respect to...

§ 4-2A-403. Retraction of anticipatory repudiation - (1) Until the repudiating party's next performance is due, the...

§ 4-2A-404. Substituted performance - (1) If without fault of the lessee, the lessor and...

§ 4-2A-405. Excused performance - Subject to § 4-2A-404 on substituted performance, the following rules...

§ 4-2A-406. Procedure on excused performance - (a) If the lessee receives notification of a material or...

§ 4-2A-407. Irrevocable promises — Finance leases - (a) In the case of a finance lease that is...

Part 5 - Default

§ 4-2A-501. Default — Procedure - (1) Whether the lessor or the lessee is in default...

§ 4-2A-502. Notice after default - Except as otherwise provided in this chapter or the lease...

§ 4-2A-503. Modification or impairment of rights and remedies - (1) Except as otherwise provided in this chapter, the lease...

§ 4-2A-504. Liquidation of damages - (a) Damages payable by either party for default, or any...

§ 4-2A-505. Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies - (1) On cancellation of the lease contract, all obligations that...

§ 4-2A-506. Statute of limitations - (1) An action for default under a lease contract, including...

§ 4-2A-507. Proof of market rent — Time and place - (1) Damages based on market rent (§ 4-2A-519 or §...

§ 4-2A-508. Lessee's remedies - (a) If a lessor fails to deliver the goods in...

§ 4-2A-509. Lessee's rights on improper delivery — Rightful rejection - (1) Subject to the provisions of § 4-2A-510 on default...

§ 4-2A-510. Installment lease contracts — Rejection and default - (1) Under an installment lease contract a lessee may reject...

§ 4-2A-511. Merchant lessee's duties as to rightfully rejected goods - (1) Subject to any security interest of a lessee (§...

§ 4-2A-512. Lessee's duties as to rightfully rejected goods - (a) Except as otherwise provided with respect to goods that...

§ 4-2A-513. Cure by lessor of improper tender or delivery — Replacement - (1) If any tender or delivery by the lessor or...

§ 4-2A-514. Waiver of lessee's objections - (a) In rejecting goods, a lessee's failure to state a...

§ 4-2A-515. Acceptance of goods - (a) Acceptance of goods occurs after the lessee has had...

§ 4-2A-516. Effect of acceptance of goods — Notice of default — Burden of establishing default after acceptance — Notice of claim or litigation to person answerable over - (a) A lessee must pay rent for any goods accepted...

§ 4-2A-517. Revocation of acceptance of goods - (a) A lessee may revoke acceptance of a lot or...

§ 4-2A-518. Cover — Substitute goods - (1) After a default by a lessor under the lease...

§ 4-2A-519. Lessee's damages for non-delivery, repudiation, default, and breach of warranty in regard to accepted goods - (1) Except as otherwise provided with respect to damages liquidated...

§ 4-2A-520. Lessee's incidental and consequential damages - (1) Incidental damages resulting from a lessor's default include expenses...

§ 4-2A-521. Lessee's right to specific performance or replevin - (1) Specific performance may be decreed if the goods are...

§ 4-2A-522. Lessee's right to goods on lessor's insolvency - (1) Subject to subsection (2) and even though the goods...

§ 4-2A-523. Lessor's remedies - (a) If a lessee wrongfully rejects or revokes acceptance of...

§ 4-2A-524. Lessor's right to identify goods to lease contract - (a) After default by the lessee under the lease contract...

§ 4-2A-525. Lessor's right to possession of goods - (1) If a lessor discovers the lessee to be insolvent,...

§ 4-2A-526. Lessor's stoppage of delivery in transit or otherwise - (a) A lessor may stop delivery of goods in the...

§ 4-2A-527. Lessor's rights to dispose of goods - (1) After a default by a lessee under the lease...

§ 4-2A-528. Lessor's damages for non-acceptance, failure to pay, repudiation, or other default - (1) Except as otherwise provided with respect to damages liquidated...

§ 4-2A-529. Lessor's action for the rent - (a) After default by the lessee under the lease contract...

§ 4-2A-530. Lessor's incidental damages - Incidental damages to an aggrieved lessor include any commercially reasonable...

§ 4-2A-531. Standing to sue third parties for injury to goods - (1) If a third party so deals with goods that...

§ 4-2A-532. Lessor's rights to residual interest - In addition to any other recovery permitted by this chapter...

Chapter 3 - Negotiable Instruments

Part 1 - General Provisions and Definitions

§ 4-3-101. Short title - This chapter may be cited as Uniform Commercial Code —...

§ 4-3-102. Subject matter - (a) This chapter applies to negotiable instruments. It does not...

§ 4-3-103. Definitions - (a) In this chapter: (1) “Acceptor” means a drawee who...

§ 4-3-104. Negotiable instrument - (a) Except as provided in subsections (c) and (d), “negotiable...

§ 4-3-105. Issue of instrument - (a) “Issue” means the first delivery of an instrument by...

§ 4-3-106. Unconditional promise or order - (a) Except as provided in this section, for the purposes...

§ 4-3-107. Instrument payable in foreign money - Unless the instrument otherwise provides, an instrument that states the...

§ 4-3-108. Payable on demand or at definite time - (a) A promise or order is “payable on demand” if...

§ 4-3-109. Payable to bearer or to order - (a) A promise or order is payable to bearer if...

§ 4-3-110. Identification of person to whom instrument is payable - (a) The person to whom an instrument is initially payable...

§ 4-3-111. Place of payment - Except as otherwise provided for items in Chapter 4, an...

§ 4-3-112. Interest - (a) Unless otherwise provided in the instrument, (i) an instrument...

§ 4-3-113. Date of instrument - (a) An instrument may be antedated or postdated. The date...

§ 4-3-114. Contradictory terms of instrument - If an instrument contains contradictory terms, typewritten terms prevail over...

§ 4-3-115. Incomplete instrument - (a) “Incomplete instrument” means a signed writing, whether or not...

§ 4-3-116. Joint and several liability — Contribution - (a) Except as otherwise provided in the instrument, two (2)...

§ 4-3-117. Other agreements affecting instrument - Subject to applicable law regarding exclusion of proof of contemporaneous...

§ 4-3-118. Statute of limitations - (a) Except as provided in subsection (e), an action to...

§ 4-3-119. Notice of right to defend action - In an action for breach of an obligation for which...

Part 2 - Negotiation, Transfer, and Indorsement

§ 4-3-201. Negotiation - (a) “Negotiation” means a transfer of possession, whether voluntary or...

§ 4-3-202. Negotiation subject to rescission - (a) Negotiation is effective even if obtained (i) from an...

§ 4-3-203. Transfer of instrument — Rights acquired by transfer - (a) An instrument is transferred when it is delivered by...

§ 4-3-204. Indorsement - (a) “Indorsement” means a signature, other than that of a...

§ 4-3-205. Special indorsement — Blank indorsement — Anomalous indorsement - (a) If an indorsement is made by the holder of...

§ 4-3-206. Restrictive indorsement - (a) An indorsement limiting payment to a particular person or...

§ 4-3-207. Reacquisition - Reacquisition of an instrument occurs if it is transferred to...

Part 3 - Enforcement of Instruments

§ 4-3-301. Person entitled to enforce instrument - Person entitled to enforce” an instrument means (i) the holder...

§ 4-3-302. Holder in due course - (a) Subject to subsection (c) and § 4-3-106(d), “holder in...

§ 4-3-303. Value and consideration - (a) An instrument is issued or transferred for value if:...

§ 4-3-304. Overdue instrument - (a) An instrument payable on demand becomes overdue at the...

§ 4-3-305. Defenses and claims in recoupment - (a) Except as otherwise provided in this section, the right...

§ 4-3-306. Claims to an instrument - A person taking an instrument, other than a person having...

§ 4-3-307. Notice of breach of fiduciary duty - (a) In this section: (1) “Fiduciary” means an agent, trustee,...

§ 4-3-308. Proof of signatures and status as holder in due course - (a) In an action with respect to an instrument, the...

§ 4-3-309. Enforcement of lost, destroyed, or stolen instrument - (a) A person not in possession of an instrument is...

§ 4-3-310. Effect of instrument on obligation for which taken - (a) Unless otherwise agreed, if a certified check, cashier's check,...

§ 4-3-311. Accord and satisfaction by use of instrument - (a) If a person against whom a claim is asserted...

§ 4-3-312. Lost, destroyed, or stolen cashier's check, teller's check, or certified check - (a) In this section: (1) “Check” means a cashier's check,...

Part 4 - Liability of Parties

§ 4-3-401. Signature - (a) A person is not liable on an instrument unless...

§ 4-3-402. Signature by representative - (a) If a person acting, or purporting to act, as...

§ 4-3-403. Unauthorized signature - (a) Unless otherwise provided in this chapter or § 4-4-401...

§ 4-3-404. Impostors — Fictitious payees - (a) If an impostor, by use of the mails or...

§ 4-3-405. Employer's responsibility for fraudulent indorsement by employee - (a) In this section: (1) “Employee” includes an independent contractor...

§ 4-3-406. Negligence contributing to forged signature or alteration of instrument - (a) A person whose failure to exercise ordinary care substantially...

§ 4-3-407. Alteration - (a) “Alteration” means (i) an unauthorized change in an instrument...

§ 4-3-408. Drawee not liable on unaccepted draft - A check or other draft does not of itself operate...

§ 4-3-409. Acceptance of draft — Certified check - (a) “Acceptance” means the drawee's signed agreement to pay a...

§ 4-3-410. Acceptance varying draft - (a) If the terms of a drawee's acceptance vary from...

§ 4-3-411. Refusal to pay cashier's checks, teller's checks, and certified checks - (a) In this section, “obligated bank” means the acceptor of...

§ 4-3-412. Obligation of issuer of note or cashier's check - The issuer of a note or cashier's check or other...

§ 4-3-413. Obligation of acceptor - (a) The acceptor of a draft is obliged to pay...

§ 4-3-414. Obligation of drawer - (a) This section does not apply to cashier's checks or...

§ 4-3-415. Obligation of indorser - (a) Subject to subsections (b), (c), and (d) and to...

§ 4-3-416. Transfer warranties - (a) A person who transfers an instrument for consideration warrants...

§ 4-3-417. Presentment warranties - (a) If an unaccepted draft is presented to the drawee...

§ 4-3-418. Payment or acceptance by mistake - (a) Except as provided in subsection (c), if the drawee...

§ 4-3-419. Instruments signed for accommodation - (a) If an instrument is issued for value given for...

§ 4-3-420. Conversion of instrument - (a) The law applicable to conversion of personal property applies...

Part 5 - Dishonor

§ 4-3-501. Presentment - (a) “Presentment” means a demand made by or on behalf...

§ 4-3-502. Dishonor - (a) Dishonor of a note is governed by the following...

§ 4-3-503. Notice of dishonor - (a) The obligation of an indorser stated in § 4-3-415(a)...

§ 4-3-504. Excused presentment and notice of dishonor - (a) Presentment for payment or acceptance of an instrument is...

§ 4-3-505. Evidence of dishonor - (a) The following are admissible as evidence and create a...

Part 6 - Discharge and Payment

§ 4-3-601. Discharge and effect of discharge - (a) The obligation of a party to pay the instrument...

§ 4-3-602. Payment - (a) Subject to subsection (e), an instrument is paid to...

§ 4-3-603. Tender of payment - (a) If tender of payment of an obligation to pay...

§ 4-3-604. Discharge by cancellation or renunciation - (a) A person entitled to enforce an instrument, with or...

§ 4-3-605. Discharge of secondary obligors - (a) If a person entitled to enforce an instrument releases...

Chapter 4 - Bank Deposits and Collections

Part 1 - General Provisions and Definitions

§ 4-4-101. Short title - This chapter may be cited as Uniform Commercial Code —...

§ 4-4-102. Applicability - (a) To the extent that items within this chapter are...

§ 4-4-103. Variation by agreement — Measure of damages — Action constituting ordinary care - (a) The effect of the provisions of this chapter may...

§ 4-4-104. Definitions and index of definitions - (a) In this chapter, unless the context otherwise requires: (1)...

§ 4-4-105. Definitions of types of banks - In this chapter: (1) “Bank” means a person engaged in...

§ 4-4-106. Payable through or payable at bank — Collecting bank - (a) If an item states that it is “payable through”...

§ 4-4-107. Separate office of a bank - A branch or separate office of a bank is a...

§ 4-4-108. Time of receipt of items - (a) For the purpose of allowing time to process items,...

§ 4-4-109. Delays - (a) Unless otherwise instructed, a collecting bank in a good...

§ 4-4-110. Electronic presentment - (a) “Agreement for electronic presentment” means an agreement, clearinghouse rule,...

§ 4-4-111. Statute of limitations - An action to enforce an obligation, duty, or right arising...

Part 2 - Collection of Items — Depositary and Collecting Banks

§ 4-4-201. Status of collecting bank as agent and provisional status of credits — Applicability of chapter — Item indorsed “Pay Any Bank” - (a) Unless a contrary intent clearly appears and before the...

§ 4-4-202. Responsibility for collection or return — When action timely - (a) A collecting bank must exercise ordinary care in: (1)...

§ 4-4-203. Effect of instructions - Subject to Chapter 3 of this subtitle concerning conversion of...

§ 4-4-204. Methods of sending and presenting — Sending directly to payor bank - (a) A collecting bank shall send items by a reasonably...

§ 4-4-205. Depositary bank holder of unindorsed item - If a customer delivers an item to a depositary bank...

§ 4-4-206. Transfer between banks - Any agreed method that identifies the transferor bank is sufficient...

§ 4-4-207. Transfer warranties - (a) A customer or collecting bank that transfers an item...

§ 4-4-208. Presentment warranties - (a) If an unaccepted draft is presented to the drawee...

§ 4-4-209. Encoding and retention warranties - (a) A person who encodes information on or with respect...

§ 4-4-210. Security interest of collecting bank in items, accompanying documents, and proceeds - (a) A collecting bank has a security interest in an...

§ 4-4-211. When bank gives value for purposes of holder in due course - For purposes of determining its status as a holder in...

§ 4-4-212. Presentment by notice of item not payable by, through, or at bank — Liability of drawer or indorser - (a) Unless otherwise instructed, a collecting bank may present an...

§ 4-4-213. Medium and time of settlement by bank - (a) With respect to settlement by a bank, the medium...

§ 4-4-214. Right of charge-back or refund — Liability of collecting bank — Return of item - (a) If a collecting bank has made provisional settlement with...

§ 4-4-215. Final payment of item by payor bank — When provisional debits and credits become final — When certain credits become available for withdrawal - (a) An item is finally paid by a payor bank...

§ 4-4-216. Insolvency and preference - (a) If an item is in or comes into the...

Part 3 - Collection of Items — Payor Banks

§ 4-4-301. Deferred posting — Recovery of payment by return of items — Time of dishonor — Return of items by payor bank - (a) If a payor bank settles for a demand item...

§ 4-4-302. Payor bank's responsibility for late return of item - (a) If an item is presented to and received by...

§ 4-4-303. When items subject to notice, stop-payment order, legal process, or setoff — Order in which items may be charged or certified - (a) Any knowledge, notice, or stop-payment order received by, legal...

Part 4 - Relationship Between Payor Bank and Its Customer

§ 4-4-401. When bank may charge customer's account - (a) A bank may charge against the account of a...

§ 4-4-402. Bank's liability to customer for wrongful dishonor — Time of determining insufficiency of account - (a) Except as otherwise provided in this chapter, a payor...

§ 4-4-403. Customer's right to stop payment — Burden of proof of loss - (a) A customer or any person authorized to draw on...

§ 4-4-404. Bank not obliged to pay check more than six (6) months old - A bank is under no obligation to a customer having...

§ 4-4-405. Death or incompetence of customer - (a) A payor or collecting bank's authority to accept, pay,...

§ 4-4-406. Customer's duty to discover and report unauthorized signature or alteration — Comparative fault - (a) A bank that sends or makes available to a...

§ 4-4-407. Payor bank's right to subrogation on improper payment - If a payor bank has paid an item over the...

Part 5 - Collection of Documentary Drafts

§ 4-4-501. Handling of documentary drafts — Duty to send for presentment and to notify customer of dishonor - A bank that takes a documentary draft for collection shall...

§ 4-4-502. Presentment of “on arrival” drafts - If a draft or the relevant instructions require presentment “on...

§ 4-4-503. Responsibility of presenting bank for documents and goods — Report of reasons for dishonor — Referee in case of need - Unless otherwise instructed and except as provided in Chapter 5...

§ 4-4-504. Privilege of presenting bank to deal with goods — Security interest for expenses - (a) A presenting bank that, following the dishonor of a...

Chapter 4A - Funds Transfers

Part 1 - Subject Matter and Definitions

§ 4-4A-101. Short title - This chapter may be cited as Uniform Commercial Code —...

§ 4-4A-102. Subject matter - Except as otherwise provided in § 4-4A-108, this chapter applies...

§ 4-4A-103. Payment order — Definitions - (a) In this Chapter: (1) “Payment order” means an instruction...

§ 4-4A-104. Funds transfer — Definitions - In this Chapter: (a) “Funds transfer” means the series of...

§ 4-4A-105. Other definitions - (a) In this Chapter: (1) “Authorized account” means a deposit...

§ 4-4A-106. Time payment order is received - (a) The time of receipt of a payment order or...

§ 4-4A-107. Federal Reserve regulations and operating circulars - Regulations of the Board of Governors of the Federal Reserve...

§ 4-4A-108. Relationship to Electronic Fund Transfer Act - (a) Except as provided in subsection (b), this chapter does...

Part 2 - Issue and Acceptance of Payment Order

§ 4-4A-201. Security procedure - Security procedure” means a procedure established by agreement of a...

§ 4-4A-202. Authorized and verified payment orders - (a) A payment order received by the receiving bank is...

§ 4-4A-203. Unenforceability of certain verified payment orders - (a) If an accepted payment order is not, under §...

§ 4-4A-204. Refund of payment and duty of customer to report with respect to unauthorized payment order - (a) If a receiving bank accepts a payment order issued...

§ 4-4A-205. Erroneous payment orders - (a) If an accepted payment order was transmitted pursuant to...

§ 4-4A-206. Transmission of payment order through funds-transfer or other communication system - (a) If a payment order addressed to a receiving bank...

§ 4-4A-207. Misdescription of beneficiary - (a) Subject to subsection (b), if, in a payment order...

§ 4-4A-208. Misdescription of intermediary bank or beneficiary's bank - (a) This subsection applies to a payment order identifying an...

§ 4-4A-209. Acceptance of payment order - (a) Subject to subsection (d), a receiving bank other than...

§ 4-4A-210. Rejection of payment order - (a) A payment order is rejected by the receiving bank...

§ 4-4A-211. Cancellation and amendment of payment order - (a) A communication of the sender of a payment order...

§ 4-4A-212. Liability and duty of receiving bank regarding unaccepted payment order - If a receiving bank fails to accept a payment order...

Part 3 - Execution of Sender's Payment Order by Receiving Bank

§ 4-4A-301. Execution and execution date - (a) A payment order is “executed” by the receiving bank...

§ 4-4A-302. Obligations of receiving bank in execution of payment order - (a) Except as provided in subsections (b) through (d), if...

§ 4-4A-303. Erroneous execution of payment order - (a) A receiving bank that (i) executes the payment order...

§ 4-4A-304. Duty of sender to report erroneously executed payment order - If the sender of a payment order that is erroneously...

§ 4-4A-305. Liability for late or improper execution or failure to execute payment order - (a) If a funds transfer is completed but execution of...

Part 4 - Payment

§ 4-4A-401. Payment date - Payment date” of a payment order means the day on...

§ 4-4A-402. Obligation of sender to pay receiving bank - (a) This section is subject to §§ 4-4A-205 and 4-4A-207....

§ 4-4A-403. Payment by sender to receiving bank - (a) Payment of the sender's obligation under § 4-4A-402 to...

§ 4-4A-404. Obligation of beneficiary's bank to pay and give notice to beneficiary - (a) Subject to §§ 4-4A-211(e), 4-4A-405(d), and 4-4A-405(e), if a...

§ 4-4A-405. Payment by beneficiary's bank to beneficiary - (a) If the beneficiary's bank credits an account of the...

§ 4-4A-406. Payment by originator to beneficiary — Discharge of underlying obligation - (a) Subject to §§ 4-4A-211(e), 4-4A-405(d), and 4-4A-405(e), the originator...

Part 5 - Miscellaneous Provisions

§ 4-4A-501. Variation by agreement and effect of funds-transfer system rule - (a) Except as otherwise provided in this chapter, the rights...

§ 4-4A-502. Creditor process served on receiving bank — Setoff by beneficiary's bank - (a) As used in this section, “creditor process” means levy,...

§ 4-4A-503. Injunction or restraining order with respect to funds transfer - For proper cause and in compliance with applicable law, a...

§ 4-4A-504. Order in which items and payment orders may be charged to account — Order of withdrawals from account - (a) If a receiving bank has received more than one...

§ 4-4A-505. Preclusion of objection to debit of customer's account - If a receiving bank has received payment from its customer...

§ 4-4A-506. Rate of interest - (a) If, under this chapter, a receiving bank is obliged...

§ 4-4A-507. Choice of law - (a) The following rules apply unless the affected parties otherwise...

Chapter 5 - Letters of Credit

§ 4-5-101. Short title - This chapter may be cited as Uniform Commercial Code—Letters of...

§ 4-5-102. Definitions - (a) In this chapter: (1) “Adviser” means a person who,...

§ 4-5-103. Scope - (a) This chapter applies to letters of credit and to...

§ 4-5-104. Formal requirements - A letter of credit, confirmation, advice, transfer, amendment, or cancellation...

§ 4-5-105. Consideration - Consideration is not required to issue, amend, transfer, or cancel...

§ 4-5-106. Issuance, amendment, cancellation, and duration - (a) A letter of credit is issued and becomes enforceable...

§ 4-5-107. Confirmer, nominated person, and adviser - (a) A confirmer is directly obligated on a letter of...

§ 4-5-108. Issuer's rights and obligations - (a) Except as otherwise provided in § 4-5-109, an issuer...

§ 4-5-109. Fraud and forgery - (a) If a presentation is made that appears on its...

§ 4-5-110. Warranties - (a) If its presentation is honored, the beneficiary warrants: (1)...

§ 4-5-111. Remedies - (a) If an issuer wrongfully dishonors or repudiates its obligation...

§ 4-5-112. Transfer of letter of credit - (a) Except as otherwise provided in § 4-5-113, unless a...

§ 4-5-113. Transfer by operation of law - (a) A successor of a beneficiary may consent to amendments,...

§ 4-5-114. Assignment of proceeds - (a) In this section, “proceeds of a letter of credit”...

§ 4-5-115. Statute of limitations - An action to enforce a right or obligation arising under...

§ 4-5-116. Choice of law and forum - (a) The liability of an issuer, nominated person, or adviser...

§ 4-5-117. Subrogation of issuer, applicant, and nominated person - (a) An issuer that honors a beneficiary's presentation is subrogated...

§ 4-5-118. Security interest of issuer or nominated person - (a) An issuer or nominated person has a security interest...

§ 4-5-119. Applicability - This chapter applies to a letter of credit that is...

§ 4-5-120. Savings clause - A transaction arising out of or associated with a letter...

Chapter 7 - Documents of Title

Part 1 - General

§ 4-7-101. Short title - This chapter may be cited as Uniform Commercial Code —...

§ 4-7-102. Definitions and index of definitions - (a) In this Chapter, unless the context otherwise requires: (1)...

§ 4-7-103. Relation of chapter to treaty or statute - (a) This chapter is subject to any treaty or statute...

§ 4-7-104. Negotiable and nonnegotiable document of title - (a) Except as otherwise provided in subsection (c), a document...

§ 4-7-105. Reissuance in alternative medium - (a) Upon request of a person entitled under an electronic...

§ 4-7-106. Control of electronic document of title - (a) A person has control of an electronic document of...

Part 2 - Warehouse Receipts: Special Provisions

§ 4-7-201. Person that may issue a warehouse receipt — Storage under bond - (a) A warehouse receipt may be issued by any warehouse....

§ 4-7-202. Form of warehouse receipt — Effect of omission - (a) A warehouse receipt need not be in any particular...

§ 4-7-203. Liability for nonreceipt or misdescription - A party to or purchaser for value in good faith...

§ 4-7-204. Duty of care — Contractual limitation of warehouse's liability - (a) A warehouse is liable for damages for loss of...

§ 4-7-205. Title under warehouse receipt defeated in certain cases - A buyer in ordinary course of business of fungible goods...

§ 4-7-206. Termination of storage at warehouse's option - (a) A warehouse, by giving notice to the person on...

§ 4-7-207. Goods must be kept separate — Fungible goods - (a) Unless the warehouse receipt provides otherwise, a warehouse shall...

§ 4-7-208. Altered warehouse receipts - If a blank in a negotiable tangible warehouse receipt has...

§ 4-7-209. Lien of warehouse - (a) A warehouse has a lien against the bailor on...

§ 4-7-210. Enforcement of warehouse's lien - (a) Except as otherwise provided in subsection (b), a warehouse's...

Part 3 - Bills of Lading: Special Provisions

§ 4-7-301. Liability for nonreceipt or misdescription — “Said to contain” — “Shipper's weight, load, and count” — Improper handling - (a) A consignee of a nonnegotiable bill of lading which...

§ 4-7-302. Through bills of lading and similar documents of title - (a) The issuer of a through bill of lading, or...

§ 4-7-303. Diversion — Reconsignment — Change of instructions - (a) Unless the bill of lading otherwise provides, a carrier...

§ 4-7-304. Tangible bills of lading in a set - (a) Except as customary in international transportation, a tangible bill...

§ 4-7-305. Destination bills - (a) Instead of issuing a bill of lading to the...

§ 4-7-306. Altered bills of lading - An unauthorized alteration or filling in of a blank in...

§ 4-7-307. Lien of carrier - (a) A carrier has a lien on the goods covered...

§ 4-7-308. Enforcement of carrier's lien - (a) A carrier's lien on goods may be enforced by...

§ 4-7-309. Duty of care — Contractual limitation of carrier's liability - (a) A carrier that issues a bill of lading, whether...

Part 4 - Warehouse Receipts and Bills of Lading: General Obligations

§ 4-7-401. Irregularities in issue of receipt or bill or conduct of issuer - The obligations imposed by this chapter on an issuer apply...

§ 4-7-402. Duplicate document of title — Overissue - A duplicate or any other document of title purporting to...

§ 4-7-403. Obligation of bailee to deliver — Excuse - (a) A bailee shall deliver the goods to a person...

§ 4-7-404. No liability for good-faith delivery pursuant to document of title - A bailee that in good faith has received goods and...

Part 5 - Warehouse Receipts and Bills of Lading: Negotiation and Transfer

§ 4-7-501. Form of negotiation and requirements of due negotiation - (a) The following rules apply to a negotiable tangible document...

§ 4-7-502. Rights acquired by due negotiation - (a) Subject to §§ 4-7-205 and 4-7-503, a holder to...

§ 4-7-503. Document of title to goods defeated in certain cases - (a) A document of title confers no right in goods...

§ 4-7-504. Rights acquired in absence of due negotiation — Effect of diversion — Stoppage of delivery - (a) A transferee of a document of title, whether negotiable...

§ 4-7-505. Indorser not guarantor for other parties - The indorsement of a tangible document of title issued by...

§ 4-7-506. Delivery without indorsement — Right to compel indorsement - The transferee of a negotiable tangible document of title has...

§ 4-7-507. Warranties on negotiation or delivery of document of title - If a person negotiates or delivers a document of title...

§ 4-7-508. Warranties of collecting bank as to documents of title - A collecting bank or other intermediary known to be entrusted...

§ 4-7-509. Adequate compliance with commercial contract - Whether a document of title is adequate to fulfill the...

Part 6 - Warehouse Receipts and Bills of Lading: Miscellaneous Provisions

§ 4-7-601. Lost, stolen, or destroyed documents of title - (a) If a document of title is lost, stolen, or...

§ 4-7-602. Judicial process against goods covered by negotiable document of title - Unless a document of title was originally issued upon delivery...

§ 4-7-603. Conflicting claims — Interpleader - If more than one person claims title to or possession...

Part 7 - Miscellaneous Provisions

§ 4-7-701. Effective Date - This chapter takes effect on January 1, 2008.

§ 4-7-703. Applicability - This chapter applies to a document of title that is...

§ 4-7-704. Savings clause - A document of title issued or a bailment that arises...

Chapter 8 - Investment Securities

Part 1 - Short Title and General Matters

§ 4-8-101. Short title - This chapter may be cited as Uniform Commercial Code —...

§ 4-8-102. Definitions - (a) In this Chapter: (1) “Adverse claim” means a claim...

§ 4-8-103. Rules for determining whether certain obligations and interests are securities or financial assets - (a) A share or similar equity interest issued by a...

§ 4-8-104. Acquisition of security or financial asset or interest therein - (a) A person acquires a security or an interest therein,...

§ 4-8-105. Notice of adverse claim - (a) A person has notice of an adverse claim if:...

§ 4-8-106. Control - (a) A purchaser has “control” of a certificated security in...

§ 4-8-107. Whether indorsement, instruction, or entitlement order is effective - (a) “Appropriate person” means: (1) with respect to an indorsement,...

§ 4-8-108. Warranties in direct holding - (a) A person who transfers a certificated security to a...

§ 4-8-109. Warranties in indirect holding - (a) A person who originates an entitlement order to a...

§ 4-8-110. Applicability — Choice of law - (a) The local law of the issuer's jurisdiction, as specified...

§ 4-8-111. Clearing corporation rules - A rule adopted by a clearing corporation governing rights and...

§ 4-8-112. Creditor's legal process - (a) The interest of a debtor in a certificated security...

§ 4-8-113. Statute of frauds inapplicable - A contract or modification of a contract for the sale...

§ 4-8-114. Evidentiary rules concerning certificated securities - The following rules apply in an action on a certificated...

§ 4-8-115. Securities intermediary and others not liable to adverse claimant - A securities intermediary that has transferred a financial asset pursuant...

§ 4-8-116. Securities intermediary as purchaser for value - A securities intermediary that receives a financial asset and establishes...

Part 2 - Issue and Issuer

§ 4-8-201. Issuer - (a) With respect to an obligation on or a defense...

§ 4-8-202. Issuer's responsibility and defenses — Notice of defect or defense - (a) Even against a purchaser for value and without notice,...

§ 4-8-203. Staleness as notice of defect or defense - After an act or event, other than a call that...

§ 4-8-204. Effect of issuer's restriction on transfer - A restriction on transfer of a security imposed by the...

§ 4-8-205. Effect of unauthorized signature on security certificate - An unauthorized signature placed on a security certificate before or...

§ 4-8-206. Completion or alteration of security certificate - (a) If a security certificate contains the signatures necessary to...

§ 4-8-207. Rights and duties of issuer with respect to registered owners - (a) Before due presentment for registration of transfer of a...

§ 4-8-208. Effect of signature of authenticating trustee, registrar, or transfer agent - (a) A person signing a security certificate as authenticating trustee,...

§ 4-8-209. Issuer's lien - A lien in favor of an issuer upon a certificated...

§ 4-8-210. Overissue - (a) In this section, “overissue” means the issue of securities...

Part 3 - Transfer of Certificated and Uncertificated Securities

§ 4-8-301. Delivery - (a) Delivery of a certificated security to a purchaser occurs...

§ 4-8-302. Rights of purchaser - (a) Except as otherwise provided in subsections (b) and (c),...

§ 4-8-303. Protected purchaser - (a) “Protected purchaser” means a purchaser of a certificated or...

§ 4-8-304. Indorsement - (a) An indorsement may be in blank or special. An...

§ 4-8-305. Instruction - (a) If an instruction has been originated by an appropriate...

§ 4-8-306. Effect of guaranteeing signature, indorsement, or instruction - (a) A person who guarantees a signature of an indorser...

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Arkansas Code Title 4 - Business and Commercial Law Subtitle 1 - Uniform Commercial Code

Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 1 - Uniform Commercial Code