Shown verbatim: the complete text as captured from the official PDF posted by the Arkansas General Assembly, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
Stricken language would be deleted from and underlined language would be added to present law.
1 State of Arkansas As Engrossed: S1/27/25
2 95th General Assembly
A Bill
3 Regular Session, 2025 SENATE BILL 47
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5 By: Senators J. Boyd, J. Dotson, M. McKee, C. Penzo
6 By: Representatives Beaty Jr., L. Johnson
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8 For An Act To Be Entitled
9 AN ACT TO AMEND THE UNIFORM COMMERCIAL CODE; TO
10 DEFINE "CENTRAL BANK DIGITAL CURRENCY" UNDER THE
11 UNIFORM COMMERCIAL CODE; TO MODIFY THE UNIFORM
12 COMMERCIAL CODE DEFINITIONS OF "MONEY" AND "DEPOSIT
13 ACCOUNT"; TO MODIFY THE DEFINITIONS OF "DEPOSIT" AND
14 "DEPOSIT ACCOUNT" UNDER THE ARKANSAS BANKING CODE OF
15 1997; AND FOR OTHER PURPOSES.
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18 Subtitle
19 TO AMEND THE UNIFORM COMMERCIAL CODE; TO
20 DEFINE "CENTRAL BANK DIGITAL CURRENCY"
21 UNDER THE UNIFORM COMMERCIAL CODE; TO
22 MODIFY THE UNIFORM COMMERCIAL CODE
23 DEFINITIONS; AND TO MODIFY THE ARKANSAS
24 BANKING CODE OF 1997.
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26 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
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28 SECTION 1. Arkansas Code � 4-1-201(b)(24), concerning the Uniform
29 Commercial Code definition of "money", is amended to read as follows:
30 (24) "Money" means a medium of exchange that is currently
31 authorized or adopted by a domestic or foreign government. The term includes
32 a monetary unit of account established by an intergovernmental organization
33 or by agreement between two (2) or more countries. "Money" does not include a
34 central bank digital currency.
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36 SECTION 2. Arkansas Code � 4-1-201(b), concerning the general
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1 definitions used in the Uniform Commercial Code, is amended to add an
2 additional subdivision to read as follows:
3 (44) "Central bank digital currency" means a digital currency, a
4 digital medium of exchange, or a digital monetary unit of account issued by
5 the Federal Reserve System, a federal agency, a foreign government, a foreign
6 central bank, or a foreign reserve system that is made directly available to
7 a consumer by such entities. "Central bank digital currency" includes a
8 digital currency, a digital medium of exchange, or a digital monetary unit of
9 account issued by the Federal Reserve System, a federal agency, a foreign
10 government, a foreign central bank, or a foreign reserve system, that is
11 processed or validated directly by such entities.
12
13 SECTION 3. Arkansas Code � 4-9-102(29), concerning the Uniform
14 Commercial Code -- Secured Transactions definition of "deposit account", is
15 amended to read as follows:
16 (29) "Deposit account" means a demand, time, savings, passbook,
17 or similar account maintained with a bank. The term "deposit account" does
18 not include investment property, central bank digital currency, or accounts
19 evidenced by an instrument.
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21 SECTION 4. Arkansas Code � 23-45-102(17), concerning the definitions
22 of "deposit" and "deposit account" under the Arkansas Banking Code of 1997,
23 is amended to read as follows:
24 (17)(A) "Deposit" and "deposit account" mean the unpaid balance
25 of money or its equivalent received or held by a bank in the usual course of
26 its banking business and which represents a liability of the bank, for which
27 it has given or is obligated to give credit, either conditionally or
28 unconditionally, to a checking, savings, time or similar account, or that is
29 evidenced by its certificate of deposit or similar certificate or a check or
30 draft drawn against a deposit account and certified by the bank or a draft or
31 cashier's, officer's, or traveler's check or money order or similar
32 instrument on which the bank is primarily liable, and that has not been paid
33 and other obligations or instruments of a bank that may be included in the
34 definition of "deposit" or "deposit account" in department rules a demand,
35 time, savings, passbook, or similar account maintained with a bank.
36 (B) "Deposit" and "deposit account" do not include
2 01-27-2025 10:27:17 ANS102
As Engrossed: S1/27/25 SB47
1 investment property, central bank digital currency, or accounts evidenced by
2 an instrument;
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4 /s/J. Boyd
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3 01-27-2025 10:27:17 ANS102Every fact on this page links to its source, starting with the official bill record.