Okla. Stat. tit. 12A, § 12A-1-9-318
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-318, 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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Rights and title of seller of account or chattel
Official statutory text
paper with respect to creditors and purchasers.
RIGHTS AND TITLE OF SELLER OF ACCOUNT OR CHATTEL
PAPER WITH RESPECT TO CREDITORS AND PURCHASERS
(a) A debtor that has sold an account, chattel paper, payment
intangible, or promissory note does not retain a legal or equitable
interest in the collateral sold.
(b) For purposes of determining the rights of creditors of, and
purchasers for value of an account or chattel paper from, a debtor
that has sold an account or chattel paper, while the buyer’s
security interest is unperfected, the debtor is deemed to have
rights and title to the account or chattel paper identical to those
the debtor sold.
RIGHTS AND TITLE OF SELLER OF ACCOUNT OR CHATTEL
PAPER WITH RESPECT TO CREDITORS AND PURCHASERS
(a) A debtor that has sold an account, chattel paper, payment
intangible, or promissory note does not retain a legal or equitable
interest in the collateral sold.
(b) For purposes of determining the rights of creditors of, and
purchasers for value of an account or chattel paper from, a debtor
that has sold an account or chattel paper, while the buyer’s
security interest is unperfected, the debtor is deemed to have
rights and title to the account or chattel paper identical to those
the debtor sold.
Status: in_force · Read it on the official government site
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