Okla. Stat. tit. 12A, § 12A-1-9-313

perfects security interest without filing.

WHEN POSSESSION BY OR DELIVERY TO SECURED PARTY

PERFECTS SECURITY INTEREST WITHOUT FILING

(a) Except as otherwise provided in subsection (b) of this

section, a secured party may perfect a security interest in goods,

instruments, negotiable tangible documents, or money by taking

possession of the collateral. A secured party may perfect a

security interest in certificated securities by taking delivery of

the certificated securities under Section 8-301 of this title.

(b) With respect to goods covered by a certificate of title

issued by this state, a secured party may perfect a security

interest in the goods by taking possession of the goods only in the

circumstances described in subsection (d) of Section 1-9-316 of this

title.

(c) With respect to collateral other than certificated

securities and goods covered by a document, a secured party takes

possession of collateral in the possession of a person other than

the debtor, the secured party, or a lessee of the collateral from

the debtor in the ordinary course of the debtor's business, when:

(1) the person in possession signs a record acknowledging that

it holds possession of the collateral for the secured party's

benefit; or

(2) the person takes possession of the collateral after having

signed a record acknowledging that it will hold possession of

collateral for the secured party's benefit.

(d) If perfection of a security interest depends upon

possession of the collateral by a secured party, perfection occurs

not earlier than the time the secured party takes possession and

continues only while the secured party retains possession.

(e) A security interest in a certificated security in

registered form is perfected by delivery when delivery of the

certificated security occurs under Section 8-301 of this title and

remains perfected by delivery until the debtor obtains possession of

the security certificate.

(f) A person in possession of collateral is not required to

acknowledge that it holds possession for a secured party's benefit.

(g) If a person acknowledges that it holds possession for the

secured party's benefit:

(1) the acknowledgment is effective under subsection (c) of

this section or subsection (a) of Section 8-301 of this title, even

if the acknowledgment violates the rights of a debtor; and

(2) unless the person otherwise agrees or law other than this

article otherwise provides, the person does not owe any duty to the

secured party and is not required to confirm the acknowledgment to

another person.

Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 64

(h) A secured party having possession of collateral does not

relinquish possession by delivering the collateral to a person other

than the debtor or a lessee of the collateral from the debtor in the

ordinary course of the debtor's business if the person was

instructed before the delivery or is instructed contemporaneously

with the delivery:

(1) to hold possession of the collateral for the secured

party's benefit; or

(2) to redeliver the collateral to the secured party.

(i) A secured party does not relinquish possession, even if a

delivery under subsection (h) of this section violates the rights of

a debtor. A person to which collateral is delivered under

subsection (h) of this section does not owe any duty to the secured

party and is not required to confirm the delivery to another person

unless the person otherwise agrees or law other than this article

otherwise provides.