Okla. Stat. tit. 12A, § 12A-1-9-508
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-508, 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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Effectiveness of financing statement if new debtor
Official statutory text
becomes bound by security agreement.
EFFECTIVENESS OF FINANCING STATEMENT IF
NEW DEBTOR BECOMES BOUND BY SECURITY AGREEMENT
(a) Except as otherwise provided in this section, a filed
financing statement naming an original debtor is effective to
perfect a security interest in collateral in which a new debtor has
or acquires rights to the extent that the financing statement would
have been effective had the original debtor acquired rights in the
collateral.
(b) If the difference between the name of the original debtor
and that of the new debtor causes a filed financing statement that
is effective under subsection (a) of this section to be seriously
misleading under Section 1-9-506 of this title:
(1) the financing statement is effective to perfect a security
interest in collateral acquired by the new debtor before, and within
four (4) months after, the new debtor becomes bound under subsection
(d) of Section 1-9-203 of this title; and
(2) the financing statement is not effective to perfect a
security interest in collateral acquired by the new debtor more than
four (4) months after the new debtor becomes bound under subsection
(d) of Section 1-9-203 of this title unless an initial financing
statement providing the name of the new debtor if filed before the
expiration of that time.
(c) This section does not apply to collateral for which a filed
financing statement remains effective against the new debtor under
subsection (a) of Section 1-9-507 of this title.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 112
EFFECTIVENESS OF FINANCING STATEMENT IF
NEW DEBTOR BECOMES BOUND BY SECURITY AGREEMENT
(a) Except as otherwise provided in this section, a filed
financing statement naming an original debtor is effective to
perfect a security interest in collateral in which a new debtor has
or acquires rights to the extent that the financing statement would
have been effective had the original debtor acquired rights in the
collateral.
(b) If the difference between the name of the original debtor
and that of the new debtor causes a filed financing statement that
is effective under subsection (a) of this section to be seriously
misleading under Section 1-9-506 of this title:
(1) the financing statement is effective to perfect a security
interest in collateral acquired by the new debtor before, and within
four (4) months after, the new debtor becomes bound under subsection
(d) of Section 1-9-203 of this title; and
(2) the financing statement is not effective to perfect a
security interest in collateral acquired by the new debtor more than
four (4) months after the new debtor becomes bound under subsection
(d) of Section 1-9-203 of this title unless an initial financing
statement providing the name of the new debtor if filed before the
expiration of that time.
(c) This section does not apply to collateral for which a filed
financing statement remains effective against the new debtor under
subsection (a) of Section 1-9-507 of this title.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 112
Status: in_force · Read it on the official government site
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