Arkansas 2025 Regular Session

Arkansas Senate Bill SB47 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	Stricken language would be deleted from and underlined language would be added to present law.
2	2	ANS102 01/13/2025 8:01:51 AM ANS102
3	3	State of Arkansas 1
4	4	95th General Assembly A Bill 2
5	5	Regular Session, 2025 SENATE BILL 47 3
6	6	4
7	7	By: Senators J. Boyd, J. Dotson 5
8	8	By: Representatives Beaty Jr., L. Johnson 6
9	9	7
10	10	For An Act To Be Entitled 8
11	11	AN ACT TO AMEND THE UNIFORM COMMERCIAL CODE; TO 9
12	12	DEFINE "CENTRAL BANK DIGITAL CURRENCY" UNDER THE 10
13	13	UNIFORM COMMERCIAL CODE; TO MODIFY THE UNIFORM 11
14	14	COMMERCIAL CODE DEFINITIONS OF "MONEY" AND "DEPOSIT 12
15	15	ACCOUNT"; AND FOR OTHER PURPOSES. 13
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17	17	15
18	18	Subtitle 16
19	19	TO AMEND THE UNIFORM COMMERCIAL CODE; TO 17
20	20	DEFINE "CENTRAL BANK DIGITAL CURRENCY" 18
21	21	UNDER THE UNIFORM COMMERCIAL CODE; TO 19
22	22	MODIFY THE UNIFORM COMMERCIAL CODE 20
23	23	DEFINITIONS OF "MONEY" AND "DEPOSIT 21
24	24	ACCOUNT". 22
25	25	23
26	26	BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 24
27	27	25
28	28	SECTION 1. Arkansas Code § 4-1-201(b)(24), concerning the Uniform 26
29	29	Commercial Code definition of "money", is amended to read as follows: 27
30	30	(24) “Money” means a medium of exchange that is currently 28
31	31	authorized or adopted by a domestic or foreign government. The term includes 29
32	32	a monetary unit of account established by an intergovernmental organization 30
33	33	or by agreement between two (2) or more countries. "Money" does not include a 31
34	34	central bank digital currency. 32
35	35	33
36	36	SECTION 2. Arkansas Code § 4 -1-201(b), concerning the general 34
37	37	definitions used in the Uniform Commercial Code, is amended to add an 35
38	38	additional subdivision to read as follows: 36 SB47
39	39
40	40	2 01/13/2025 8:01:51 AM ANS102
41	41	(44) "Central bank digital currency" means a digital currency, a 1
42	42	digital medium of exchange, or a digital monetary unit of account issued by 2
43	43	the Federal Reserve System, a federal agency, a foreign government, a foreign 3
44	44	central bank, or a foreign reserve system that is made directly available to 4
45	45	a consumer by such entities. "Central bank digital currency" includes a 5
46	46	digital currency, a digital medium of exchange, or a digital monetary unit of 6
47	47	account issued by the Federal Reserve System, a federal agency, a foreign 7
48	48	government, a foreign central bank, or a foreign reserve system, that is 8
49	49	processed or validated directly by such entities. 9
50	50	10
51	51	SECTION 3. Arkansas Code § 4 -9-102(29), concerning the Uniform 11
52	52	Commercial Code — Secured Transactions definition of "deposit account", is 12
53	53	amended to read as follows: 13
54	54	(29) “Deposit account” means a demand, time, savings, passbook, 14
55	55	or similar account maintained with a bank. The term "deposit account" does 15
56	56	not include investment property , central bank digital currency, or accounts 16
57	57	evidenced by an instrument. 17
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