Priority of certain liens arising by operation of law

  1. Law
  2. Arkansas Code
  3. Business and Commercial Law
  4. Uniform Commercial Code
  5. Secured Transactions
  6. Perfection and Priority
  7. Priority
  8. Priority of certain liens arising by operation of law

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  1. (a) In this section, “possessory lien” means an interest, other than a security interest or an agricultural lien:

    1. (1) which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

    2. (2) which is created by statute or rule of law in favor of the person; and

    3. (3) whose effectiveness depends on the person's possession of the goods.

  2. (b) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.


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