§ 16-65-120 - Sale or transfer of judgment or cause of action -- Filing and noting by clerk. - Arkansas Statutes

16-65-120. Sale or transfer of judgment or cause of action -- Filing and noting by clerk.

(a) The sale of a judgment or any part thereof of any court of record within this state or the sale of any cause of action or interest therein after suit has been filed thereon, shall be evidenced by a written transfer which, when acknowledged in the manner and form required by law for the acknowledgment of deeds, may be filed with the papers of the suit. When thus filed by the clerk, it shall be his or her duty to make a minute of the transfer on the margin of the record of the court where the judgment of the court is recorded or, if judgment is not rendered when the transfer is filed, the clerk shall make a minute of the transfer on the docket of the court where suit is entered, giving briefly the substance thereof, for which services he or she shall be entitled to a fee of twenty-five cents (25cent(s)), to be paid by the party applying therefor.

(b) When the transfer is duly acknowledged, filed, and noted as provided in subsection (a) of this section, the transfer shall be full notice and valid and binding upon all persons subsequently dealing with reference to the cause of action or judgment, whether they have actual knowledge of the transfer or not.

(c) This section shall apply to any and all judgments, suits, claims, and causes of action, whether assignable or not.