Arkansas Code Title 2. Agriculture § 2-15-306. Transfer of lien--Priority

(a)(1) A purchaser or sales agent takes free of an owner's lien otherwise applicable to the grain, soybeans, or peanuts purchased and is relieved of any obligations created under § 2-15-303 if the purchaser or sales agent pays the full amount of required consideration for the grain, soybeans, or peanuts under a good faith, noncollusive agreement to purchase the grain, soybeans, or peanuts.

(2) If a purchaser or sales agent pays the full amount of consideration under subdivision (a)(1) of this section, the owner's lien transfers to the proceeds paid by the purchaser or sales agent.