Okla. Stat. tit. 12A, § 12A-1-9-320
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-320, 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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Buyer of goods
Official statutory text
BUYER OF GOODS
(a) Except as otherwise provided in subsection (e) of this
section, a buyer in ordinary course of business, other than a person
buying farm products from a person engaged in farming operations,
takes free of a security interest created by the buyer’s seller,
even if the security interest is perfected and the buyer knows of
its existence.
(b) Except as otherwise provided in subsection (e) of this
section, a buyer of goods from a person who used or bought the goods
for use primarily for personal, family, or household purposes takes
free of a security interest, even if perfected, if the buyer buys:
(1) without knowledge of the security interest;
(2) for value;
(3) primarily for the buyer’s personal, family, or household
purposes; and
(4) before the filing of a financing statement covering the
goods.
(c) To the extent that it affects the priority of a security
interest over a buyer of goods under subsection (b) of this section,
the period of effectiveness of a filing made in the jurisdiction in
which the seller is located is governed by subsections (a) and (b)
of Section 1-9-316 of this title.
(d) A buyer in ordinary course of business buying oil, gas, or
other minerals at the wellhead or minehead or after extraction takes
free of an interest arising out of an encumbrance.
(e) Subsections (a) and (b) of this section do not affect a
security interest in goods in the possession of the secured party
under Section 1-9-313 of this title.
(a) Except as otherwise provided in subsection (e) of this
section, a buyer in ordinary course of business, other than a person
buying farm products from a person engaged in farming operations,
takes free of a security interest created by the buyer’s seller,
even if the security interest is perfected and the buyer knows of
its existence.
(b) Except as otherwise provided in subsection (e) of this
section, a buyer of goods from a person who used or bought the goods
for use primarily for personal, family, or household purposes takes
free of a security interest, even if perfected, if the buyer buys:
(1) without knowledge of the security interest;
(2) for value;
(3) primarily for the buyer’s personal, family, or household
purposes; and
(4) before the filing of a financing statement covering the
goods.
(c) To the extent that it affects the priority of a security
interest over a buyer of goods under subsection (b) of this section,
the period of effectiveness of a filing made in the jurisdiction in
which the seller is located is governed by subsections (a) and (b)
of Section 1-9-316 of this title.
(d) A buyer in ordinary course of business buying oil, gas, or
other minerals at the wellhead or minehead or after extraction takes
free of an interest arising out of an encumbrance.
(e) Subsections (a) and (b) of this section do not affect a
security interest in goods in the possession of the secured party
under Section 1-9-313 of this title.
Status: in_force · Read it on the official government site
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