Arkansas § 4-9-621 - Notification of proposal to accept collateral.
Full text of Arkansas Arkansas Code of 1987 Annotated § 4-9-621 — Notification of proposal to accept collateral., with citation guidance and answers to common questions.
§ 4-9-621. Notification of proposal to accept collateral.
A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to: any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral; any other secured party or lienholder that, ten (10) days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that: identified the collateral; was indexed under the debtor's name as of that date; and was filed in the office or offices in which to file a financing statement against the debtor covering the collateral as of that date; and any other secured party that, ten (10) days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in § 4-9-311(a). A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (a).
Source: official Arkansas text · Last verified 2026-08-27
Frequently Asked Questions About Arkansas § 4-9-621
What does Arkansas Code of 1987 Annotated § 4-9-621 cover?
Section 4-9-621 ("Notification of proposal to accept collateral.") is part of the Arkansas Code of 1987 Annotated, the codified statutory law of Arkansas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arkansas § 4-9-621?
A common citation format is "Arkansas Code of 1987 Annotated § 4-9-621" (Arkansas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arkansas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arkansas official source linked on this page or consult a licensed Arkansas attorney.
How does Arkansas § 4-9-621 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arkansas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arkansas.