Stricken language would be deleted from and underlined language would be added to present law.
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State of Arkansas 1
95th General Assembly A Bill 2
Regular Session, 2025 SENATE BILL 47 3
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By: Senators J. Boyd, J. Dotson 5
By: Representatives Beaty Jr., L. Johnson 6
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For An Act To Be Entitled 8
AN ACT TO AMEND THE UNIFORM COMMERCIAL CODE; TO 9
DEFINE "CENTRAL BANK DIGITAL CURRENCY" UNDER THE 10
UNIFORM COMMERCIAL CODE; TO MODIFY THE UNIFORM 11
COMMERCIAL CODE DEFINITIONS OF "MONEY" AND "DEPOSIT 12
ACCOUNT"; AND FOR OTHER PURPOSES. 13
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Subtitle 16
TO AMEND THE UNIFORM COMMERCIAL CODE; TO 17
DEFINE "CENTRAL BANK DIGITAL CURRENCY" 18
UNDER THE UNIFORM COMMERCIAL CODE; TO 19
MODIFY THE UNIFORM COMMERCIAL CODE 20
DEFINITIONS OF "MONEY" AND "DEPOSIT 21
ACCOUNT". 22
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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 24
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SECTION 1. Arkansas Code § 4-1-201(b)(24), concerning the Uniform 26
Commercial Code definition of "money", is amended to read as follows: 27
(24) “Money” means a medium of exchange that is currently 28
authorized or adopted by a domestic or foreign government. The term includes 29
a monetary unit of account established by an intergovernmental organization 30
or by agreement between two (2) or more countries. "Money" does not include a 31
central bank digital currency. 32
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SECTION 2. Arkansas Code § 4 -1-201(b), concerning the general 34
definitions used in the Uniform Commercial Code, is amended to add an 35
additional subdivision to read as follows: 36 SB47
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(44) "Central bank digital currency" means a digital currency, a 1
digital medium of exchange, or a digital monetary unit of account issued by 2
the Federal Reserve System, a federal agency, a foreign government, a foreign 3
central bank, or a foreign reserve system that is made directly available to 4
a consumer by such entities. "Central bank digital currency" includes a 5
digital currency, a digital medium of exchange, or a digital monetary unit of 6
account issued by the Federal Reserve System, a federal agency, a foreign 7
government, a foreign central bank, or a foreign reserve system, that is 8
processed or validated directly by such entities. 9
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SECTION 3. Arkansas Code § 4 -9-102(29), concerning the Uniform 11
Commercial Code — Secured Transactions definition of "deposit account", is 12
amended to read as follows: 13
(29) “Deposit account” means a demand, time, savings, passbook, 14
or similar account maintained with a bank. The term "deposit account" does 15
not include investment property , central bank digital currency, or accounts 16
evidenced by an instrument. 17
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