Okla. Stat. tit. 12A, § 12A-1-9-323
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-323, 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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Future advances
Official statutory text
FUTURE ADVANCES
(a) Except as otherwise provided in subsection (c) of this
section, for purposes of determining the priority of a perfected
security interest under paragraph (1) of subsection (a) of Section
1-9-322 of this title, perfection of the security interest dates
from the time an advance is made to the extent that the security
interest secures an advance that:
(1) is made while the security interest is perfected only:
(A) under Section 1-9-309 of this title when it attaches;
or
(B) temporarily under subsection (e), (f), or (g) of
Section 1-9-312 of this title; and
(2) is not made pursuant to a commitment entered into before or
while the security interest is perfected by a method other than
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 83
under Section 1-9-309 or subsection (e), (f), or (g) of Section 1-9-
312 of this title.
(b) Except as otherwise provided in subsection (c) of this
section, a security interest is subordinate to the rights of a
person that becomes a lien creditor to the extent that the security
interest secures an advance made more than forty-five (45) days
after the person becomes a lien creditor unless the advance is made:
(1) without knowledge of the lien; or
(2) pursuant to a commitment entered into without knowledge of
the lien.
(c) Subsections (a) and (b) of this section do not apply to a
security interest held by a secured party that is a buyer of
accounts, chattel paper, payment intangibles, or promissory notes or
a consignor.
(d) Except as otherwise provided in subsection (e) of this
section, a buyer of goods takes free of a security interest to the
extent that it secures advances made after the earlier of:
(1) the time the secured party acquires knowledge of the
buyer's purchase; or
(2) forty-five (45) days after the purchase.
(e) Subsection (d) of this section does not apply if the
advance is made pursuant to a commitment entered into without
knowledge of the buyer's purchase and before the expiration of the
forty-five-day period.
(f) Except as otherwise provided in subsection (g) of this
section, a lessee of goods takes the leasehold interest free of a
security interest to the extent that it secures advances made after
the earlier of:
(1) the time the secured party acquires knowledge of the lease;
or
(2) Forty-five (45) days after the lease contract becomes
enforceable.
(g) Subsection (f) of this section does not apply if the
advance is made pursuant to a commitment entered into without
knowledge of the lease and before the expiration of the forty-five-
day period.
(a) Except as otherwise provided in subsection (c) of this
section, for purposes of determining the priority of a perfected
security interest under paragraph (1) of subsection (a) of Section
1-9-322 of this title, perfection of the security interest dates
from the time an advance is made to the extent that the security
interest secures an advance that:
(1) is made while the security interest is perfected only:
(A) under Section 1-9-309 of this title when it attaches;
or
(B) temporarily under subsection (e), (f), or (g) of
Section 1-9-312 of this title; and
(2) is not made pursuant to a commitment entered into before or
while the security interest is perfected by a method other than
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 83
under Section 1-9-309 or subsection (e), (f), or (g) of Section 1-9-
312 of this title.
(b) Except as otherwise provided in subsection (c) of this
section, a security interest is subordinate to the rights of a
person that becomes a lien creditor to the extent that the security
interest secures an advance made more than forty-five (45) days
after the person becomes a lien creditor unless the advance is made:
(1) without knowledge of the lien; or
(2) pursuant to a commitment entered into without knowledge of
the lien.
(c) Subsections (a) and (b) of this section do not apply to a
security interest held by a secured party that is a buyer of
accounts, chattel paper, payment intangibles, or promissory notes or
a consignor.
(d) Except as otherwise provided in subsection (e) of this
section, a buyer of goods takes free of a security interest to the
extent that it secures advances made after the earlier of:
(1) the time the secured party acquires knowledge of the
buyer's purchase; or
(2) forty-five (45) days after the purchase.
(e) Subsection (d) of this section does not apply if the
advance is made pursuant to a commitment entered into without
knowledge of the buyer's purchase and before the expiration of the
forty-five-day period.
(f) Except as otherwise provided in subsection (g) of this
section, a lessee of goods takes the leasehold interest free of a
security interest to the extent that it secures advances made after
the earlier of:
(1) the time the secured party acquires knowledge of the lease;
or
(2) Forty-five (45) days after the lease contract becomes
enforceable.
(g) Subsection (f) of this section does not apply if the
advance is made pursuant to a commitment entered into without
knowledge of the lease and before the expiration of the forty-five-
day period.
Status: in_force · Read it on the official government site
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