Okla. Stat. tit. 14A, § 14A-2-407
This is the official text of Okla. Stat. tit. 14A, § 14A-2-407, part of Oklahoma’s Stat. tit. 14A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 14A,." Browse the sections below, each linked to its official government source.
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Security in sales or leases
Official statutory text
(1) With respect to a consumer credit sale, a seller may take a
security interest in the property sold. In addition, a seller may
take a security interest in goods upon which services are performed
or in which goods sold are installed or to which they are annexed,
or in land to which the goods are affixed or which is maintained,
repaired or improved as a result of the sale of the goods or
services, if in the case of a security interest in land the debt
secured is One Thousand Dollars ($1,000.00) or more, or, in the case
of a security interest in goods the debt secured is Two Hundred
Dollars ($200.00) or more. Except as provided with respect to
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 71
cross-collateral (Section 2-408), a seller may not otherwise take a
security interest in property of the buyer to secure the debt
arising from a consumer credit sale.
(2) With respect to a consumer lease, a lessor may not take a
security interest in property of the lessee to secure the debt
arising from the lease.
(3) A security interest taken in violation of this section is
void.
(4) "Security interest" as used in this section means a
security interest arising by agreement of the parties and does not
include a lien arising by operation of law.
security interest in the property sold. In addition, a seller may
take a security interest in goods upon which services are performed
or in which goods sold are installed or to which they are annexed,
or in land to which the goods are affixed or which is maintained,
repaired or improved as a result of the sale of the goods or
services, if in the case of a security interest in land the debt
secured is One Thousand Dollars ($1,000.00) or more, or, in the case
of a security interest in goods the debt secured is Two Hundred
Dollars ($200.00) or more. Except as provided with respect to
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 71
cross-collateral (Section 2-408), a seller may not otherwise take a
security interest in property of the buyer to secure the debt
arising from a consumer credit sale.
(2) With respect to a consumer lease, a lessor may not take a
security interest in property of the lessee to secure the debt
arising from the lease.
(3) A security interest taken in violation of this section is
void.
(4) "Security interest" as used in this section means a
security interest arising by agreement of the parties and does not
include a lien arising by operation of law.
Status: in_force · Read it on the official government site
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