Okla. Stat. tit. 12A, § 12A-1-9-316
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-316, 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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Effect of change in governing law
Official statutory text
EFFECT OF CHANGE IN GOVERNING LAW
(a) A security interest perfected pursuant to the law of the
jurisdiction designated in paragraph (1) of Section 1-9-301,
subsection (c) of Section 1-9-305, subsection (d) of Section 1-9-
306A, or subsection (b) of Section 1-9-306B of this title remains
perfected until the earliest of:
(1) the time perfection would have ceased under the law of that
jurisdiction;
(2) the expiration of four (4) months after a change of the
debtor's location to another jurisdiction; or
(3) the expiration of one (1) year after a transfer of
collateral to a person that thereby becomes a debtor and is located
in another jurisdiction.
(b) If a security interest described in subsection (a) of this
section becomes perfected under the law of the other jurisdiction
before the earliest time or event described in that subsection, it
remains perfected thereafter. If the security interest does not
become perfected under the law of the other jurisdiction before the
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 67
earliest time or event, it becomes unperfected and is deemed never
to have been perfected as against a purchaser of the collateral for
value.
(c) A possessory security interest in collateral, other than
goods covered by a certificate of title and as-extracted collateral
consisting of goods, remains continuously perfected if:
(1) the collateral is located in one jurisdiction and subject
to a security interest perfected under the law of that jurisdiction;
(2) thereafter the collateral is brought into another
jurisdiction; and
(3) upon entry into the other jurisdiction, the security
interest is perfected under the law of the other jurisdiction.
(d) Except as otherwise provided in subsection (e) of this
section, a security interest in goods covered by a certificate of
title which is perfected by any method under the law of another
jurisdiction when the goods become covered by a certificate of title
from this state remains perfected until the security interest would
have become unperfected under the law of the other jurisdiction had
the goods not become so covered.
(e) A security interest described in subsection (d) of this
section becomes unperfected as against a purchaser of the goods for
value and is deemed never to have been perfected as against a
purchaser of the goods for value if the applicable requirements for
perfection under subsection (b) of Section 1-9-311 or Section 1-9-
313 of this title are not satisfied before the earlier of:
(1) the time the security interest would have become
unperfected under the law of the other jurisdiction had the goods
not become covered by a certificate of title from this state; or
(2) the expiration of four (4) months after the goods had
become so covered.
(f) A security interest in chattel paper, controllable
accounts, controllable electronic records, controllable payment
intangibles, deposit accounts, letter-of-credit rights, or
investment property which is perfected under the law of the chattel
paper's jurisdiction, the controllable electronic records'
jurisdiction, the bank's jurisdiction, the issuer's jurisdiction, a
nominated person's jurisdiction, the securities intermediary's
jurisdiction, or the commodity intermediary's jurisdiction, as
applicable, remains perfected until the earlier of:
(1) the time the security interest would have become
unperfected under the law of that jurisdiction; or
(2) the expiration of four (4) months after a change of the
applicable jurisdiction to another jurisdiction.
a
nominated person's jurisdiction, the securities intermediary's
jurisdiction, or the commodity intermediary's jurisdiction, as
applicable, remains perfected until the earlier of:
(1) the time the security interest would have become
unperfected under the law of that jurisdiction; or
(2) the expiration of four (4) months after a change of the
applicable jurisdiction to another jurisdiction.
(g) If a security interest described in subsection (f) of this
section becomes perfected under the law of the other jurisdiction
before the earlier of the time or the end of the period described in
that subsection, it remains perfected thereafter. If the security
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 68
interest does not become perfected under the law of the other
jurisdiction before the earlier of that time or the end of that
period, it becomes unperfected and is deemed never to have been
perfected as against a purchaser of the collateral for value.
(h) The following rules apply to collateral to which a security
interest attaches within four (4) months after the debtor changes
its location to another jurisdiction:
(1) a financing statement filed before the change pursuant to
the law of the jurisdiction designated in subsection (1) of Section
1-9-301 of this title or subsection (c) of 1-9-305 of this title is
effective to perfect a security interest in the collateral if the
financing statement would have been effective to perfect a security
interest in the collateral if the debtor had not changed its
location.
(2) if a security interest that is perfected by a financing
statement that is effective under paragraph (1) of this subsection
becomes perfected under the law of the other jurisdiction before the
earlier of the time the financing statement would have become
ineffective under the law of the jurisdiction designated in
subsection (1) of Section 1-9-301 of this title or subsection (c) of
Section 1-9-305 of this title or the expiration of the four-month
period, it remains perfected thereafter. If the security interest
does not become perfected under the law of the other jurisdiction
before the earlier time or event, it becomes unperfected and is
deemed never to have been perfected as against a purchaser of the
collateral for value.
(i) If a financing statement naming an original debtor is filed
pursuant to the law of the jurisdiction designated in subsection (1)
of Section 1-9-301 of this title or subsection (c) of Section 1-9-
305 of this title and the new debtor is located in another
jurisdiction, the following rules apply:
(1) the financing statement is effective to perfect a security
interest in collateral in which the new debtor has or acquires
rights before or within four (4) months after the new debtor becomes
bound under subsection (d) of Section 1-9-203 of this title, if the
financing statement would have been effective to perfect a security
interest in the collateral if the collateral had been acquired by
the original debtor.
(2) a security interest that is perfected by the financing
statement and which becomes perfected under the law of the other
jurisdiction before the earlier of the expiration of the four-month
period or the time the financing statement would have become
ineffective under the law of the jurisdiction designated in
subsection (1) of Section 1-9-301 of this title or subsection (c) of
Section 1-9-305 of this title remains perfected thereafter. A
security interest that is perfected by the financing statement but
which does not become perfected under the law of the other
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 69
jurisdiction before the earlier time or event becomes unperfected
and is deemed never to have been perfected as against a purchaser of
the collateral for value.
(a) A security interest perfected pursuant to the law of the
jurisdiction designated in paragraph (1) of Section 1-9-301,
subsection (c) of Section 1-9-305, subsection (d) of Section 1-9-
306A, or subsection (b) of Section 1-9-306B of this title remains
perfected until the earliest of:
(1) the time perfection would have ceased under the law of that
jurisdiction;
(2) the expiration of four (4) months after a change of the
debtor's location to another jurisdiction; or
(3) the expiration of one (1) year after a transfer of
collateral to a person that thereby becomes a debtor and is located
in another jurisdiction.
(b) If a security interest described in subsection (a) of this
section becomes perfected under the law of the other jurisdiction
before the earliest time or event described in that subsection, it
remains perfected thereafter. If the security interest does not
become perfected under the law of the other jurisdiction before the
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 67
earliest time or event, it becomes unperfected and is deemed never
to have been perfected as against a purchaser of the collateral for
value.
(c) A possessory security interest in collateral, other than
goods covered by a certificate of title and as-extracted collateral
consisting of goods, remains continuously perfected if:
(1) the collateral is located in one jurisdiction and subject
to a security interest perfected under the law of that jurisdiction;
(2) thereafter the collateral is brought into another
jurisdiction; and
(3) upon entry into the other jurisdiction, the security
interest is perfected under the law of the other jurisdiction.
(d) Except as otherwise provided in subsection (e) of this
section, a security interest in goods covered by a certificate of
title which is perfected by any method under the law of another
jurisdiction when the goods become covered by a certificate of title
from this state remains perfected until the security interest would
have become unperfected under the law of the other jurisdiction had
the goods not become so covered.
(e) A security interest described in subsection (d) of this
section becomes unperfected as against a purchaser of the goods for
value and is deemed never to have been perfected as against a
purchaser of the goods for value if the applicable requirements for
perfection under subsection (b) of Section 1-9-311 or Section 1-9-
313 of this title are not satisfied before the earlier of:
(1) the time the security interest would have become
unperfected under the law of the other jurisdiction had the goods
not become covered by a certificate of title from this state; or
(2) the expiration of four (4) months after the goods had
become so covered.
(f) A security interest in chattel paper, controllable
accounts, controllable electronic records, controllable payment
intangibles, deposit accounts, letter-of-credit rights, or
investment property which is perfected under the law of the chattel
paper's jurisdiction, the controllable electronic records'
jurisdiction, the bank's jurisdiction, the issuer's jurisdiction, a
nominated person's jurisdiction, the securities intermediary's
jurisdiction, or the commodity intermediary's jurisdiction, as
applicable, remains perfected until the earlier of:
(1) the time the security interest would have become
unperfected under the law of that jurisdiction; or
(2) the expiration of four (4) months after a change of the
applicable jurisdiction to another jurisdiction.
a
nominated person's jurisdiction, the securities intermediary's
jurisdiction, or the commodity intermediary's jurisdiction, as
applicable, remains perfected until the earlier of:
(1) the time the security interest would have become
unperfected under the law of that jurisdiction; or
(2) the expiration of four (4) months after a change of the
applicable jurisdiction to another jurisdiction.
(g) If a security interest described in subsection (f) of this
section becomes perfected under the law of the other jurisdiction
before the earlier of the time or the end of the period described in
that subsection, it remains perfected thereafter. If the security
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 68
interest does not become perfected under the law of the other
jurisdiction before the earlier of that time or the end of that
period, it becomes unperfected and is deemed never to have been
perfected as against a purchaser of the collateral for value.
(h) The following rules apply to collateral to which a security
interest attaches within four (4) months after the debtor changes
its location to another jurisdiction:
(1) a financing statement filed before the change pursuant to
the law of the jurisdiction designated in subsection (1) of Section
1-9-301 of this title or subsection (c) of 1-9-305 of this title is
effective to perfect a security interest in the collateral if the
financing statement would have been effective to perfect a security
interest in the collateral if the debtor had not changed its
location.
(2) if a security interest that is perfected by a financing
statement that is effective under paragraph (1) of this subsection
becomes perfected under the law of the other jurisdiction before the
earlier of the time the financing statement would have become
ineffective under the law of the jurisdiction designated in
subsection (1) of Section 1-9-301 of this title or subsection (c) of
Section 1-9-305 of this title or the expiration of the four-month
period, it remains perfected thereafter. If the security interest
does not become perfected under the law of the other jurisdiction
before the earlier time or event, it becomes unperfected and is
deemed never to have been perfected as against a purchaser of the
collateral for value.
(i) If a financing statement naming an original debtor is filed
pursuant to the law of the jurisdiction designated in subsection (1)
of Section 1-9-301 of this title or subsection (c) of Section 1-9-
305 of this title and the new debtor is located in another
jurisdiction, the following rules apply:
(1) the financing statement is effective to perfect a security
interest in collateral in which the new debtor has or acquires
rights before or within four (4) months after the new debtor becomes
bound under subsection (d) of Section 1-9-203 of this title, if the
financing statement would have been effective to perfect a security
interest in the collateral if the collateral had been acquired by
the original debtor.
(2) a security interest that is perfected by the financing
statement and which becomes perfected under the law of the other
jurisdiction before the earlier of the expiration of the four-month
period or the time the financing statement would have become
ineffective under the law of the jurisdiction designated in
subsection (1) of Section 1-9-301 of this title or subsection (c) of
Section 1-9-305 of this title remains perfected thereafter. A
security interest that is perfected by the financing statement but
which does not become perfected under the law of the other
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 69
jurisdiction before the earlier time or event becomes unperfected
and is deemed never to have been perfected as against a purchaser of
the collateral for value.
Status: in_force · Read it on the official government site
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