- (a) The effectiveness of a financing statement that perfects an agricultural lien or a security interest in equipment used in farming operations, farm products, or accounts arising from the sale of farm products may be continued by filing a continuation statement with the Secretary of State pursuant to Arkansas Code § 4-9-510(d)(3).
- (b) Notwithstanding Secretary of State Administrative Rules For Uniform Commercial Code 106.4, a continuation statement submitted for filing pursuant to Arkansas Code § 4-9-510(d)(3) may be required to be communicated as a written record.
- (c) A continuation statement filed pursuant to Arkansas Code § 4-9-510(d)(3) to continue the effectiveness of a financing statement filed in the office of circuit clerk prior to January 1, 2010, must include an attached certified copy of the initial financing statement that legibly indicates the date of filing and file number of the initial financing statement assigned by the circuit clerk.
- (d) The Secretary of State may, under Arkansas Code § 4-9-516(b)(7), refuse to accept a continuation statement submitted pursuant to Arkansas Code § 4-9-510(d)(3) if, based on the file date indicated by the circuit clerk on the attached initial financing statement, the filing office determines the record is not filed within the six-month period prescribed by Arkansas Code § 4-9-515(d).
(e) Upon the filing of a continuation statement described in this part, the Secretary of State shall index the information on the attached financing statement as if it were an initial financing statement, except:
- (1) The date and time of filing assigned in the index shall be the date and time of filing indicated by the circuit clerk on the initial financing statement; and
- (2) The lapse date in the index shall be the next five-year anniversary of the initial financing statement file date.