Okla. Stat. tit. 12A, § 12A-1-9-321
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-321, 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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Licensee of general intangible and lessee of goods in
Official statutory text
ordinary course of business.
LICENSEE OF GENERAL INTANGIBLE AND LESSEE
OF GOODS IN ORDINARY COURSE OF BUSINESS
(a) In this section, “licensee in ordinary course of business”
means a person that becomes a licensee of a general intangible in
good faith, without knowledge that the license violates the rights
of another person in the general intangible, and in the ordinary
course from a person in the business of licensing general
intangibles of that kind. A person becomes a licensee in the
ordinary course if the license to the person comports with the usual
or customary practices in the kind of business in which the licensor
is engaged or with the licensor’s own usual or customary practices.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 81
(b) A licensee in ordinary course of business takes its rights
under a nonexclusive license free of a security interest in the
general intangible created by the licensor, even if the security
interest is perfected and the licensee knows of its existence.
(c) A lessee in ordinary course of business takes its leasehold
interest free of a security interest in the goods created by the
lessor, even if the security interest is perfected and the lessee
knows of its existence.
LICENSEE OF GENERAL INTANGIBLE AND LESSEE
OF GOODS IN ORDINARY COURSE OF BUSINESS
(a) In this section, “licensee in ordinary course of business”
means a person that becomes a licensee of a general intangible in
good faith, without knowledge that the license violates the rights
of another person in the general intangible, and in the ordinary
course from a person in the business of licensing general
intangibles of that kind. A person becomes a licensee in the
ordinary course if the license to the person comports with the usual
or customary practices in the kind of business in which the licensor
is engaged or with the licensor’s own usual or customary practices.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 81
(b) A licensee in ordinary course of business takes its rights
under a nonexclusive license free of a security interest in the
general intangible created by the licensor, even if the security
interest is perfected and the licensee knows of its existence.
(c) A lessee in ordinary course of business takes its leasehold
interest free of a security interest in the goods created by the
lessor, even if the security interest is perfected and the lessee
knows of its existence.
Status: in_force · Read it on the official government site
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