On Feb. 11, ARK LEG approved bill concerning the superiority of a lien.
ARK LEG approved Bill HB 1273 to amend Arkansas codeARK LEG 26-18-701(a)(3)(B) re money mortgages and superiority of a lien created by a certificate of indebtedness.
Bill aims to determine that, in order of lien superiority, the lien that is created by entry of a certificate of indebtedness, is not superior to a purchase money mortgage.
Document dated Feb. 11, 2025, was received on Mar. 11 due to a fixed feed.
Legislative History
On Jan. 27, 2025, bill introduced in House; on Jan. 30, 2025, bill was passed in House.
On Jan. 30, 2025, bill introduced in Senate; on Feb. 5, 2025, bill passed in Senate.
On Feb. 5, 2025, bill returned to House and was submitted to the governor for action.
On Feb. 11, 2025, bill was approved by the governor and HB 1273 became Act 29.
Effectiveness
Act effective 91 days after legislature adjourned sine die (May 5), so Aug. 4, 2025.
Regulators
ARK LEG
Entity Types
Bank; MG Orig
Reference
Act 29, Bill HB1273, 2/11/2025; Citation: ARK LEG 26-18-701;
