4-100-101. Definitions.

Arkansas Code — all titles (historical 2020) · legal_authorities

4-100-101. Definitions.

4-100-101. Definitions. As used in this subchapter, unless the context requires otherwise: (1) “Lease” means the grant of use and possession of a motor vehicle for consideration, whether or not the grant includes an option to buy the vehicle; (2) “Motor vehicle” means a device in, on, or by which a person or property is or may be transported or drawn on a highway, except a device used exclusively on stationary rails or tracks; (3) “Security interest” means an interest in personal property or fixtures that secures payment or performance of an obligation; (4) “Third party” means a person other than the actor or the owner of the vehicle; and (5) “Transfer” means to transfer possession, whether or not another right is also transferred, by means of a sale, lease, sublease, lease assignment, or other property transfer.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-100-101

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.