Okla. Stat. tit. 12A, § 12A-1-9-607

This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-607, 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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Collection and enforcement by secured party

Official statutory text

COLLECTION AND ENFORCEMENT BY SECURED PARTY

(a) If so agreed, and in any event after default, a secured

party:

(1) may notify an account debtor or other person obligated on

collateral to make payment or otherwise render performance to or for

the benefit of the secured party;

(2) may take any proceeds to which the secured party is

entitled under Section 1-9-315 of this title;

(3) may enforce the obligations of an account debtor or other

person obligated on collateral and exercise the rights of the debtor

with respect to the obligation of the account debtor or other person

obligated on collateral to make payment or otherwise render

performance to the debtor, and with respect to any property that

secures the obligations of the account debtor or other person

obligated on the collateral;

(4) if it holds a security interest in a deposit account

perfected by control under paragraph (1) of subsection (a) of

Section 1-9-104 of this title, may apply the balance of the deposit

account to the obligation secured by the deposit account; and

(5) if it holds a security interest in a deposit account

perfected by control under paragraph (2) or (3) of subsection (a)

Section 1-9-104 of this title, may instruct the bank to pay the

balance of the deposit account to or for the benefit of the secured

party.

(b) If necessary to enable a secured party to exercise under

paragraph (3) of subsection (a) of this section the right of a

debtor to enforce a mortgage nonjudicially, the secured party may

record in the office in which a record of the mortgage is recorded:

(1) a copy of the security agreement that creates or provides

for a security interest in the obligation secured by the mortgage;

and

(2) the secured party's sworn affidavit in recordable form

stating that:

(A) a default has occurred with respect to the obligation

secured by the mortgage; and

(B) the secured party is entitled to enforce the mortgage

nonjudicially.

(c) A secured party shall proceed in a commercially reasonable

manner if the secured party:

Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 140

(1) undertakes to collect from or enforce an obligation of an

account debtor or other person obligated on collateral; and

(2) is entitled to charge back uncollected collateral or

otherwise to full or limited recourse against the debtor or a

secondary obligor.

(d) A secured party may deduct from the collections made

pursuant to subsection (c) of this section reasonable expenses of

collection and enforcement, including reasonable attorney fees and

legal expenses incurred by the secured party.

(e) This section does not determine whether an account debtor,

bank, or other person obligated on collateral owes a duty to a

secured party.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.