Okla. Stat. tit. 12A, § 12A-1-9-617
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-617, 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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Rights of transferee of collateral
Official statutory text
RIGHTS OF TRANSFEREE OF COLLATERAL
(a) A secured party’s disposition of collateral after default:
(1) transfers to a transferee for value all of the debtor’s
rights in the collateral;
(2) discharges the security interest under which the
disposition is made; and
(3) discharges any subordinate security interest or other
subordinate lien.
(b) A transferee that acts in good faith takes free of the
rights and interests described in subsection (a) of this section,
even if the secured party fails to comply with this article or the
requirements of any judicial proceeding.
(c) If a transferee does not take free of the rights and
interests described in subsection (a) of this section, the
transferee takes the collateral subject to:
(1) the debtor’s rights in the collateral;
(2) the security interest or agricultural lien under which the
disposition is made; and
(3) any other security interest or other lien.
(a) A secured party’s disposition of collateral after default:
(1) transfers to a transferee for value all of the debtor’s
rights in the collateral;
(2) discharges the security interest under which the
disposition is made; and
(3) discharges any subordinate security interest or other
subordinate lien.
(b) A transferee that acts in good faith takes free of the
rights and interests described in subsection (a) of this section,
even if the secured party fails to comply with this article or the
requirements of any judicial proceeding.
(c) If a transferee does not take free of the rights and
interests described in subsection (a) of this section, the
transferee takes the collateral subject to:
(1) the debtor’s rights in the collateral;
(2) the security interest or agricultural lien under which the
disposition is made; and
(3) any other security interest or other lien.
Status: in_force · Read it on the official government site
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