Okla. Stat. tit. 12A, § 12A-1-9-317
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-317, 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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Interests that take priority over or take free of
Official statutory text
security interest or agricultural lien.
INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE
OF SECURITY INTEREST OR AGRICULTURAL LIEN
(a) A security interest or agricultural lien is subordinate to
the rights of:
(1) a person entitled to priority under Section 1-9-322 of this
title; and
(2) except as otherwise provided in subsection (e) of this
section, a person that becomes a lien creditor before the earlier of
the time:
(A) the security interest or agricultural lien is
perfected; or
(B) one of the conditions specified in paragraph (3) of
subsection (b) of Section 1-9-203 of this title is met
and a financing statement covering the collateral is
filed.
(b) Except as otherwise provided in subsection (e) of this
section, a buyer, other than a secured party, of goods, instruments,
tangible documents, or a certificated security takes free of a
security interest or agricultural lien if the buyer gives value and
receives delivery of the collateral without knowledge of the
security interest or agricultural lien and before it is perfected.
(c) Except as otherwise provided in subsection (e) of this
section, a lessee of goods takes free of a security interest or
agricultural lien if the lessee gives value and receives delivery of
the collateral without knowledge of the security interest or
agricultural lien and before it is perfected.
(d) Subject to subsections (f) through (i) of this section, a
licensee of a general intangible or a buyer, other than a secured
party, of collateral other than goods, instruments, tangible
documents, or a certificated security takes free of a security
interest if the licensee or buyer gives value without knowledge of
the security interest and before it is perfected.
(e) Except as otherwise provided in Sections 1-9-320 and 1-9-
321 of this title, if a person files a financing statement with
respect to a purchase-money security interest before or within
twenty (20) days after the debtor receives delivery of the
collateral, the security interest takes priority over the rights of
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 70
a buyer, lessee, or lien creditor which arise between the time the
security interest attaches and the time of filing.
(f) A buyer, other than a secured party, of chattel paper takes
free of a security interest if, without knowledge of the security
interest and before it is perfected, the buyer gives value and:
(1) receives delivery of each authoritative tangible copy of
the record evidencing the chattel paper; and
(2) if each authoritative electronic copy of the record
evidencing the chattel paper can be subjected to control under
Section 1-9-105 of this title, obtains control of each authoritative
electronic copy.
(g) A buyer of an electronic document takes free of a security
interest if, without knowledge of the security interest and before
it is perfected, the buyer gives value and, if each authoritative
electronic copy of the document can be subjected to control under
Section 7-106 of this title, obtains control of each authoritative
electronic copy.
(h) A buyer of a controllable electronic record takes free of a
security interest if, without knowledge of the security interest and
before it is perfected, the buyer gives value and obtains control of
the controllable electronic record.
(i) A buyer, other than a secured party, of a controllable
account or a controllable payment intangible takes free of a
security interest if, without knowledge of the security interest and
before it is perfected, the buyer gives value and obtains control of
the controllable account or controllable payment intangible.
INTERESTS THAT TAKE PRIORITY OVER OR TAKE FREE
OF SECURITY INTEREST OR AGRICULTURAL LIEN
(a) A security interest or agricultural lien is subordinate to
the rights of:
(1) a person entitled to priority under Section 1-9-322 of this
title; and
(2) except as otherwise provided in subsection (e) of this
section, a person that becomes a lien creditor before the earlier of
the time:
(A) the security interest or agricultural lien is
perfected; or
(B) one of the conditions specified in paragraph (3) of
subsection (b) of Section 1-9-203 of this title is met
and a financing statement covering the collateral is
filed.
(b) Except as otherwise provided in subsection (e) of this
section, a buyer, other than a secured party, of goods, instruments,
tangible documents, or a certificated security takes free of a
security interest or agricultural lien if the buyer gives value and
receives delivery of the collateral without knowledge of the
security interest or agricultural lien and before it is perfected.
(c) Except as otherwise provided in subsection (e) of this
section, a lessee of goods takes free of a security interest or
agricultural lien if the lessee gives value and receives delivery of
the collateral without knowledge of the security interest or
agricultural lien and before it is perfected.
(d) Subject to subsections (f) through (i) of this section, a
licensee of a general intangible or a buyer, other than a secured
party, of collateral other than goods, instruments, tangible
documents, or a certificated security takes free of a security
interest if the licensee or buyer gives value without knowledge of
the security interest and before it is perfected.
(e) Except as otherwise provided in Sections 1-9-320 and 1-9-
321 of this title, if a person files a financing statement with
respect to a purchase-money security interest before or within
twenty (20) days after the debtor receives delivery of the
collateral, the security interest takes priority over the rights of
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 70
a buyer, lessee, or lien creditor which arise between the time the
security interest attaches and the time of filing.
(f) A buyer, other than a secured party, of chattel paper takes
free of a security interest if, without knowledge of the security
interest and before it is perfected, the buyer gives value and:
(1) receives delivery of each authoritative tangible copy of
the record evidencing the chattel paper; and
(2) if each authoritative electronic copy of the record
evidencing the chattel paper can be subjected to control under
Section 1-9-105 of this title, obtains control of each authoritative
electronic copy.
(g) A buyer of an electronic document takes free of a security
interest if, without knowledge of the security interest and before
it is perfected, the buyer gives value and, if each authoritative
electronic copy of the document can be subjected to control under
Section 7-106 of this title, obtains control of each authoritative
electronic copy.
(h) A buyer of a controllable electronic record takes free of a
security interest if, without knowledge of the security interest and
before it is perfected, the buyer gives value and obtains control of
the controllable electronic record.
(i) A buyer, other than a secured party, of a controllable
account or a controllable payment intangible takes free of a
security interest if, without knowledge of the security interest and
before it is perfected, the buyer gives value and obtains control of
the controllable account or controllable payment intangible.
Status: in_force · Read it on the official government site
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