Okla. Stat. tit. 12A, § 12A-1-9-703
This is the official text of Okla. Stat. tit. 12A, § 12A-1-9-703, 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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Security interest perfected before effective date
Official statutory text
SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 161
(a) A security interest that is enforceable immediately before
this act takes effect and would have priority over the rights of a
person that becomes a lien creditor at that time is a perfected
security interest under this act if, when this act takes effect, the
applicable requirements for enforceability and perfection under this
act are satisfied without further action.
(b) Except as otherwise provided in Section 1-9-705 of this
title, if, immediately before this act takes effect, a security
interest is enforceable and would have priority over the rights of a
person that becomes a lien creditor at that time, but the applicable
requirements for enforceability or perfection under this act are not
satisfied when this act takes effect, the security interest:
(1) is a perfected security interest for one (1) year after
this act takes effect;
(2) remains enforceable thereafter only if the security
interest becomes enforceable under Section 1-9-203 of this title
before the year expires; and
(3) remains perfected thereafter only if the applicable
requirements for perfection under this act are satisfied before the
year expires.
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 161
(a) A security interest that is enforceable immediately before
this act takes effect and would have priority over the rights of a
person that becomes a lien creditor at that time is a perfected
security interest under this act if, when this act takes effect, the
applicable requirements for enforceability and perfection under this
act are satisfied without further action.
(b) Except as otherwise provided in Section 1-9-705 of this
title, if, immediately before this act takes effect, a security
interest is enforceable and would have priority over the rights of a
person that becomes a lien creditor at that time, but the applicable
requirements for enforceability or perfection under this act are not
satisfied when this act takes effect, the security interest:
(1) is a perfected security interest for one (1) year after
this act takes effect;
(2) remains enforceable thereafter only if the security
interest becomes enforceable under Section 1-9-203 of this title
before the year expires; and
(3) remains perfected thereafter only if the applicable
requirements for perfection under this act are satisfied before the
year expires.
Status: in_force · Read it on the official government site
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