Okla. Stat. tit. 12A, § 12A-1-9-205
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-205, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Use or disposition of collateral permissible
Official statutory text
USE OR DISPOSITION OF COLLATERAL PERMISSIBLE
(a) A security interest is not invalid or fraudulent against
creditors solely because:
(1) the debtor has the right or ability to:
(A) use, commingle, or dispose of all or part of the
collateral, including returned or repossessed goods;
(B) collect, compromise, enforce, or otherwise deal with
collateral;
(C) accept the return of collateral or make repossessions;
or
(D) use, commingle, or dispose of proceeds; or
(2) the secured party fails to require the debtor to account
for proceeds or replace collateral.
(b) This section does not relax the requirements of possession
if attachment, perfection, or enforcement of a security interest
depends upon possession of the collateral by the secured party.
(a) A security interest is not invalid or fraudulent against
creditors solely because:
(1) the debtor has the right or ability to:
(A) use, commingle, or dispose of all or part of the
collateral, including returned or repossessed goods;
(B) collect, compromise, enforce, or otherwise deal with
collateral;
(C) accept the return of collateral or make repossessions;
or
(D) use, commingle, or dispose of proceeds; or
(2) the secured party fails to require the debtor to account
for proceeds or replace collateral.
(b) This section does not relax the requirements of possession
if attachment, perfection, or enforcement of a security interest
depends upon possession of the collateral by the secured party.
Status: in_force · Read it on the official government site
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