Okla. Stat. tit. 24, § 24-115
This is the official text of Okla. Stat. tit. 24, § 24-115, part of Oklahoma’s Stat. tit. 24, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 24,." Browse the sections below, each linked to its official government source.
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Value defined
Official statutory text
A. Value is given for a transfer or an obligation if, in
exchange for the transfer or obligation, property is transferred or
an antecedent debt is secured or satisfied, but value does not
include an unperformed promise made otherwise than in the ordinary
course of the promisor's business to furnish support to the debtor
or another person.
B. For the purposes of paragraph 2 of subsection A of Section 5
and Section 6 of this act, a person gives a reasonably equivalent
value if the person acquires an interest of the debtor in an asset
Oklahoma Statutes - Title 24. Debtor and Creditor Page 16
pursuant to a regularly conducted, noncollusive foreclosure sale or
execution of a power of sale for the acquisition or disposition of
the interest of the debtor upon default under a mortgage, deed of
trust, or security agreement.
C. A transfer is made for present value if the exchange between
the debtor and the transferee is intended by them to be
contemporaneous and is in fact substantially contemporaneous.
exchange for the transfer or obligation, property is transferred or
an antecedent debt is secured or satisfied, but value does not
include an unperformed promise made otherwise than in the ordinary
course of the promisor's business to furnish support to the debtor
or another person.
B. For the purposes of paragraph 2 of subsection A of Section 5
and Section 6 of this act, a person gives a reasonably equivalent
value if the person acquires an interest of the debtor in an asset
Oklahoma Statutes - Title 24. Debtor and Creditor Page 16
pursuant to a regularly conducted, noncollusive foreclosure sale or
execution of a power of sale for the acquisition or disposition of
the interest of the debtor upon default under a mortgage, deed of
trust, or security agreement.
C. A transfer is made for present value if the exchange between
the debtor and the transferee is intended by them to be
contemporaneous and is in fact substantially contemporaneous.
Status: in_force · Read it on the official government site
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