Title 4, Business and Commercial Law

This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this act takes effect, Chapter 9 as it existed before its amendment by this act determines priority.

This subtitle shall become effective at midnight on December 31, 1961.

(1) The following statutes are hereby repealed:Arkansas Statutes (1957 Repl.) Sections 68-101 to 68-507, inclusive; Section 68-804; Sections 68-901 to 68-909, inclusive; Sections 68-1101 to 68-1143, inclusive, and 68-1151 to 68-1155, inclusive; Sections 68-1201 to 68-1249, inclus…

Except as provided in the following section, all acts and parts of acts inconsistent with this subtitle are hereby repealed.

This chapter may be cited as Uniform Commercial Code—Virtual Currency of Arkansas.

(1) In this chapter, “virtual currency”:(1) means a digital representation of value that:(A) is used as a medium of exchange, unit of account, or store of value; and(B) is not legal tender, whether or not denominated in legal tender; and(2) does not include:(A) a transaction in w…

This chapter applies to virtual currency.

(a) In this section:(1) “Adverse claim” means a claim that a claimant has a property interest in a virtual currency and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the virtual currency.(2) “Qualifying purchaser” means a …

(a) A person has “control” of a virtual currency if the following conditions are met:(1) the virtual currency or the system in which it is recorded, if any, gives the person:(A) the power to derive substantially all the benefit from the virtual currency;(B) subject to subsection …

This chapter does not affect an action, case, or proceeding commenced before this chapter takes effect.

This chapter may be cited as Uniform Commercial Code—Controllable Electronic Records.

(a) In this chapter:(1) “Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under § 4-12-105. The term does not include a controllable account, a controllable payment intangible, a deposit account, an electronic copy of …

(a) If there is conflict between this chapter and Chapter 9, Chapter 9 governs. (b) A transaction subject to this chapter is subject to any applicable rule of law that establishes a different rule for consumers and to (i) any other statute or regulation that regulates the rates, …

(a) This section applies to the acquisition and purchase of rights in a controllable account or controllable payment intangible, including the rights and benefits under subsections (c), (d), (e), (g), and (h) of a purchaser and qualifying purchaser, in the same manner this sectio…

(a) A person has control of a controllable electronic record if the electronic record, a record attached to or logically associated with the electronic record, or a system in which the electronic record is recorded:(1) gives the person:(A) power to avail itself of substantially a…

(a) An account debtor on a controllable account or controllable payment intangible may discharge its obligation by paying:(1) the person having control of the controllable electronic record that evidences the controllable account or controllable payment intangible; or(2) except a…

(a) Except as provided in subsection (b), the local law of a controllable electronic record’s jurisdiction governs a matter covered by this chapter. (b) For a controllable electronic record that evidences a controllable account or controllable payment intangible, the local law of…

All accounts and other computations of money in the treasury and other public offices, whether state or local, and all accounts arising from proceedings in courts of justice, shall be kept and made out in the money account of the United States, that is to say, in dollars or units…

(a) No person unauthorized by law shall intentionally create or put in circulation, as a circulating medium, any note, bill, bond, check, or ticket, purporting that any money or bank notes will be paid to the receiver, holder, or bearer, or that it will be received in payment of …

(a) It shall not be lawful for any city, town, or corporation whatever within the State of Arkansas to issue small bills or notes, commonly denominated change tickets, or shinplasters, unless specifically authorized by law. (b) All persons, officers of the city, town, or corporat…

(a) The holder or owner of any change ticket, bill, or small note issued for the purpose of change, or otherwise, shall have the right to sue the drawer, issuer, or endorser of the change ticket or tickets, bill or bills, or small note or notes before any justice of the peace in …

(1) For purposes of this subchapter:(1) “Accurate” means a piece of equipment whose value or performance, including its indications, deliveries, records representations, capacity, or actual value, conforms to the standard within the applicable tolerances and other performance req…

The International System of Units (SI) and the system of weights and measures in customary use in the United States are jointly recognized, and either one (1) or both of these systems shall be used for all commercial purposes in the state. The definitions of basic units of weight…

Weights and measures that are traceable to the United States prototype standards supplied by the federal government, or approved as being satisfactory by the National Institute of Standards and Technology, shall be the state primary standards of weights and measures, and shall be…

The specifications, tolerances, and other technical requirements for commercial, law enforcement, data gathering, and other weighing and measuring devices as adopted by the National Conference on Weights and Measures, published in the National Institute of Standards and Technolog…

The Uniform Packaging and Labeling Regulation as adopted by the National Conference on Weights and Measures and published in the National Institute of Standards and Technology Handbook 130, “Uniform Laws and Regulations,” and supplements thereto or revisions thereof, shall apply …

The Uniform Regulation for the Method of Sale of Commodities as adopted by the National Conference on Weights and Measures and published in National Institute of Standards and Technology Handbook 130, “Uniform Laws and Regulations,” and supplements thereto or revisions thereof, s…

The Uniform Unit Pricing Regulation as adopted by the National Conference on Weights and Measures and published in the National Institute of Standards and Technology Handbook 130, “Uniform Laws and Regulations,” and supplements thereto or revisions thereof, shall apply to unit pr…

The Uniform Regulation for the Voluntary Registration of Servicepersons and Service Agencies for Commercial Weighing and Measuring Devices as adopted by the National Conference on Weights and Measures and published in the National Institute of Standards and Technology Handbook 13…

The Uniform Open Dating Regulation as adopted by the National Conference on Weights and Measures and published in the National Institute of Standards and Technology Handbook 130, “Uniform Laws and Regulations,” and supplements thereto or revisions thereof, shall apply to open dat…

The Uniform Regulation for National Type Evaluation as adopted by the National Conference on Weights and Measures and published in National Institute of Standards and Technology Handbook 130, “Uniform Laws and Regulations,” and supplements thereto or revisions thereof, shall appl…

(a) There is hereby created a State Division of Weights and Measures located for administrative purposes within the Arkansas Bureau of Standards administered by the Department of Agriculture. The division is charged with, but not limited to, performing the following functions on …

(a) The State Plant Board shall:(a) Maintain traceability of the state standards to the national standards in the possession of the National Institute of Standards and Technology.(b) Enforce the provisions of this subchapter.(c) Issue reasonable rules for the enforcement of this …

(a) When necessary for the enforcement of this subchapter or rules promulgated pursuant thereto, personnel designated by the Department of Agriculture on behalf of the Arkansas Bureau of Standards are:(a) Authorized to enter any commercial premises during normal business hours, e…

Any weights and measures official appointed for a county or city shall have the duties and powers enumerated in this subchapter, excepting those duties reserved to the state by law or regulation. These powers and duties shall extend to their respective jurisdictions, except that …

(a) No person shall:(a) sell, offer, or expose for sale a quantity less than the quantity represented, nor(b) take more than the represented quantity when, as buyer, he/she furnishes the weight or measure by means of which the quantity is determined, nor(c) Represent the quantity…

No person shall misrepresent the price of any commodity or service sold, offered, exposed, or advertised for sale by weight, measure, or count, nor represent the price in any manner calculated or tending to mislead or in any way deceive a person.

(a) Except as otherwise provided by the State Plant Board, or by firmly established trade custom and practice:(a) commodities in liquid form shall be sold by liquid measure or by weight, and(b) commodities not in liquid form shall be sold by weight, by measure, or by count.The me…

(a) All bulk sales in which the buyer and seller are not both present to witness the measurement, all bulk deliveries of heating fuel, and all other bulk sales specified by rule or regulation of the State Plant Board, shall be accompanied by a delivery ticket containing the follo…

(a) Except as otherwise provided in this subchapter or by regulations promulgated pursuant thereto, any package, whether a random package or a standard package, kept for the purpose of sale, or offered or exposed for sale shall bear on the outside of the package a definite, plain…

In addition to the declarations required by § 4-18-319, any package being one (1) of a lot containing random weights of the same commodity, at the time it is offered or exposed for sale at retail, shall bear on the outside of the package a plain and conspicuous declaration of the…

Whenever a packaged commodity is advertised in any manner with the retail price stated, there shall be closely and conspicuously associated with the retail price a declaration of quantity as is required by law or regulation to appear on the package.

(a) No person shall:(1) Use or have in possession for use in commerce any incorrect weight or measure;(2) Sell or offer for sale for use in commerce any incorrect weight or measure;(3) Remove any tag, seal, decal, or mark from any weight or measure without specific written author…

(a) (1) Any person who by himself or herself, by his or her servant or agent, or as the servant or agent of another person, commits any of the acts enumerated in § 4-18-322 may be assessed by the State Plant Board a civil penalty of:(A) Not less than one hundred dollars ($100) no…

Any person who intentionally commits any of the acts enumerated in § 4-18-322 is guilty of a Class A misdemeanor.

The State Plant Board or its designee is authorized to apply to any court of competent jurisdiction for a restraining order, or a temporary or permanent injunction, restraining any person from violating any provision of this subchapter.