Okla. Stat. tit. 12A, § 12A-1-9-324

PRIORITY OF PURCHASE-MONEY SECURITY INTERESTS

(a) Except as otherwise provided in subsection (g) of this

section, a perfected purchase-money security interest in goods other

than inventory or livestock has priority over a conflicting security

interest in the same goods, and, except as otherwise provided in

Section 1-9-327 of this title, a perfected security interest in its

identifiable proceeds also has priority, if the purchase-money

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security interest is perfected when the debtor receives possession

of the collateral or within twenty (20) days thereafter.

(b) Subject to subsection (c) of this section and except as

otherwise provided in subsection (g) of this section, a perfected

purchase-money security interest in inventory has priority over a

conflicting security interest in the same inventory, has priority

over a conflicting security interest in chattel paper or an

instrument constituting proceeds of the inventory and in proceeds of

the chattel paper, if so provided in Section 1-9-330 of this title,

and, except as otherwise provided in Section 1-9-327 of this title,

also has priority in identifiable cash proceeds of the inventory to

the extent the identifiable cash proceeds are received on or before

the delivery of the inventory to a buyer, if:

(1) the purchase-money security interest is perfected when the

debtor receives possession of the inventory;

(2) the purchase-money secured party sends a signed

notification to the holder of the conflicting security interest;

(3) the holder of the conflicting security interest receives

the notification within five (5) years before the debtor receives

possession of the inventory; and

(4) the notification states that the person sending the

notification has or expects to acquire a purchase-money security

interest in inventory of the debtor and describes the inventory.

(c) Paragraphs (2) through (4) of subsection (b) of this

section apply only if the holder of the conflicting security

interest had filed a financing statement covering the same types of

inventory:

(1) if the purchase-money security interest is perfected by

filing, before the date of the filing; or

(2) if the purchase-money security interest is temporarily

perfected without filing or possession under subsection (f) of

Section 1-9-312 of this title, before the beginning of the twenty-

day period thereunder.

(d) Subject to subsection (e) of this section and except as

otherwise provided in subsection (g) of this section, a perfected

purchase-money security interest in livestock that are farm products

has priority over a conflicting security interest in the same

livestock, and, except as otherwise provided in Section 1-9-327 of

this title, a perfected security interest in their identifiable

proceeds and identifiable products in their unmanufactured states

also has priority, if:

(1) the purchase-money security interest is perfected when the

debtor receives possession of the livestock;

(2) the purchase-money secured party sends a signed

notification to the holder of the conflicting security interest;

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(3) the holder of the conflicting security interest receives

the notification within six (6) months before the debtor receives

possession of the livestock; and

(4) the notification states that the person sending the

notification has or expects to acquire a purchase-money security

interest in livestock of the debtor and describes the livestock.
tes - Title 12A. Uniform Commercial Code Page 85

(3) the holder of the conflicting security interest receives

the notification within six (6) months before the debtor receives

possession of the livestock; and

(4) the notification states that the person sending the

notification has or expects to acquire a purchase-money security

interest in livestock of the debtor and describes the livestock.

(e) Paragraphs (2) through (4) of subsection (d) of this

section applies only if the holder of the conflicting security

interest had filed a financing statement covering the same types of

livestock:

(1) if the purchase-money security interest is perfected by

filing, before the date of the filing; or

(2) if the purchase-money security interest is temporarily

perfected without filing or possession under subsection (f) of

Section 1-9-312 of this title, before the beginning of the twenty-

day period thereunder.

(f) Except as otherwise provided in subsection (g) of this

section, a perfected purchase-money security interest in software

has priority over a conflicting security interest in the same

collateral, and, except as otherwise provided in Section 1-9-327 of

this title, a perfected security interest in its identifiable

proceeds also has priority, to the extent that the purchase-money

security interest in the goods in which the software was acquired

for use has priority in the goods and proceeds of the goods under

this section.

(g) If more than one security interest qualifies for priority

in the same collateral under subsection (a), (b), (d), or (f) of

this section:

(1) a security interest securing an obligation incurred as all

or part of the price of the collateral has priority over a security

interest securing an obligation incurred for value given to enable

the debtor to acquire rights in or the use of collateral; and

(2) in all other cases, subsection (a) of Section 1-9-322 of

this title applies to the qualifying security interests.