reglab/housing_qa huggingface dataset:
12A OK Stat § 12A-1-9-327 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-327. Priority of security interests in deposit account.

|PRIORITY OF SECURITY INTERESTS IN DEPOSIT ACCOUNT |The following rules govern priority among conflicting security interests in the same deposit account:(1) A security interest held by a secured party having control of the deposit account under Section 1-9-104 of this title has priority over a conflicting security interest held by a secured party that does not have control.(2) Except as otherwise provided in paragraphs (3) and (4) of this section, security interests perfected by control under Section 1-9-314 of this title rank according to priority in time of obtaining control.(3) Except as otherwise provided in paragraph (4) of this section, a security interest held by the bank with which the deposit account is maintained has priority over a conflicting security interest held by another secured party.(4) A security interest perfected by control under paragraph (3) of subsection (a) of Section 1-9-104 of this title has priority over a security interest held by the bank with which the deposit account is maintained.Added by Laws 2000, c. 371, § 54, eff. July 1, 2001.
12A OK Stat § 12A-1-9-328 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-328. Priority of security interests in investment property.

|PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY |The following rules govern priority among conflicting security interests in the same investment property:(1) A security interest held by a secured party having control of investment property under Section 1-9-106 of this title has priority over a security interest held by a secured party that does not have control of the investment property.(2) Except as otherwise provided in paragraphs (3) and (4) of this section, conflicting security interests held by secured parties each of which has control under Section 1-9-106 of this title rank according to priority in time of:(A)if the collateral is a security, obtaining control;(B)if the collateral is a security entitlement carried in a securities account and:(i)if the secured party obtained control under paragraph (1) of subsection (d) of Section 8-106 of this title, the secured party’s becoming the person for which the securities account is maintained;(ii)if the secured party obtained control under paragraph (2) of subsection (d) of Section 8-106 of this title, the securities intermediary’s agreement to comply with the secured party’s entitlement orders with respect to security entitlements carried or to be carried in the securities account; or(iii)if the secured party obtained control through another person under paragraph (3) of subsection (d) of Section 8-106 of this title, the time on which priority would be based under this paragraph if the other person were the secured party; or(C)if the collateral is a commodity contract carried with a commodity intermediary, the satisfaction of the requirement for control specified in paragraph (2) of subsection (b) of Section 1-9-106 of this title with respect to commodity contracts carried or to be carried with the commodity intermediary.(3) A security interest held by a securities intermediary in a security entitlement or a securities account maintained with the securities intermediary has priority over a conflicting security interest held by another secured party.(4) A security interest held by a commodity intermediary in a commodity contract or a commodity account maintained with the commodity intermediary has priority over a conflicting security interest held by another secured party.(5) A security interest in a certificated security in registered form which is perfected by taking delivery under subsection (a) of Section 1-9-313 of this title and not by control under Section 1-9-314 of this title has priority over a conflicting security interest perfected by a method other than control.(6) Conflicting security interests created by a broker, securities intermediary, or commodity intermediary which are perfected without control under Section 1-9-106 of this title rank equally.(7) In all other cases, priority among conflicting security interests in investment property is governed by Sections 1-9-322 and 1-9-323 of this title.Added by Laws 2000, c. 371, § 55, eff. July 1, 2001.
12A OK Stat § 12A-1-9-329 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-329. Priority of security interests in letter-of-credit right.

|PRIORITY OF SECURITY INTERESTS IN LETTER-OF-CREDIT RIGHT |The following rules govern priority among conflicting security interests in the same letter-of-credit right:(1) A security interest held by a secured party having control of the letter-of-credit right under Section 1-9-107 of this title has priority to the extent of its control over a conflicting security interest held by a secured party that does not have control.(2) Security interests perfected by control under Section 1-9- 314 of this title rank according to priority in time of obtaining control.Added by Laws 2000, c. 371, § 56, eff. July 1, 2001.
12A OK Stat § 12A-1-9-330 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-330. Priority of purchaser of chattel paper or instrument.

|PRIORITY OF PURCHASER OF CHATTEL PAPER OR INSTRUMENT |(a) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject to a security interest if:(1) in good faith and in the ordinary course of the purchaser’s business, the purchaser gives new value and takes possession of the chattel paper or obtains control of the chattel paper under Section 1-9-105 of this title; and(2) the chattel paper does not indicate that it has been assigned to an identified assignee other than the purchaser.(b) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed other than merely as proceeds of inventory subject to a security interest if the purchaser gives new value and takes possession of the chattel paper or obtains control of the chattel paper under Section 1-9-105 of this title in good faith, in the ordinary course of the purchaser’s business, and without knowledge that the purchase violates the rights of the secured party.(c) Except as otherwise provided in Section 1-9-327 of this title, a purchaser having priority in chattel paper under subsection (a) or (b) of this section also has priority in proceeds of the chattel paper to the extent that:(1) Section 1-9-322 of this title provides for priority in the proceeds; or(2) the proceeds consist of the specific goods covered by the chattel paper or cash proceeds of the specific goods, even if the purchaser’s security interest in the proceeds is unperfected.(d) Except as otherwise provided in subsection (a) of Section 1-9-331 of this title, a purchaser of an instrument has priority over a security interest in the instrument perfected by a method other than possession if the purchaser gives value and takes possession of the instrument in good faith and without knowledge that the purchase violates the rights of the secured party.(e) For purposes of subsections (a) and (b) of this section, the holder of a purchase-money security interest in inventory gives new value for chattel paper constituting proceeds of the inventory.(f) For purposes of subsections (b) and (d) of this section, if chattel paper or an instrument indicates that it has been assigned to an identified secured party other than the purchaser, a purchaser of the chattel paper or instrument has knowledge that the purchase violates the rights of the secured party.Added by Laws 2000, c. 371, § 57, eff. July 1, 2001.
12A OK Stat § 12A-1-9-331 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-331. Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under Article 8

|PRIORITY OF RIGHTS OF PURCHASERS OF INSTRUMENTS, DOCUMENTS, |AND SECURITIES UNDER OTHER ARTICLES; PRIORITY OF INTERESTSIN FINANCIAL ASSETS AND SECURITY ENTITLEMENTS UNDER ARTICLE 8(a) This article does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title has been duly negotiated, or a protected purchaser of a security. These holders or purchasers take priority over an earlier security interest, even if perfected, to the extent provided in Articles 3, 7, and 8 of this title.(b) This article does not limit the rights of or impose liability on a person to the extent that the person is protected against the assertion of a claim under Article 8 of this title.(c) Filing under this article does not constitute notice of a claim or defense to the holders, or purchasers, or persons described in subsections (a) and (b) of this section.Added by Laws 2000, c. 371, § 58, eff. July 1, 2001.
12A OK Stat § 12A-1-9-332 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-332. Transfer of money; transfer of funds from deposit account.

|TRANSFER OF MONEY; TRANSFER OF FUNDS FROM DEPOSIT ACCOUNT |(a) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights of the secured party.(b) A transferee of funds from a deposit account takes the funds free of a security interest in the deposit account unless the transferee acts in collusion with the debtor in violating the rights of the secured party.Added by Laws 2000, c. 371, § 59, eff. July 1, 2001.
12A OK Stat § 12A-1-9-333 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-333. Priority of certain liens arising by operation of law.

|PRIORITY OF CERTAIN LIENS ARISING BY OPERATION OF LAW |(a) In this section, “possessory lien” means an interest, other than a security interest or an agricultural lien:(1) which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person’s business;(2) which is created by statute or rule of law in favor of the person; and(3) whose effectiveness depends on the person’s possession of the goods.(b) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.Added by Laws 2000, c. 371, § 60, eff. July 1, 2001.
12A OK Stat § 12A-1-9-335 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-335. Accessions.

|ACCESSIONS |(a) A security interest may be created in an accession and continues in collateral that becomes an accession.(b) If a security interest is perfected when the collateral becomes an accession, the security interest remains perfected in the collateral.(c) Except as otherwise provided in subsection (d) of this section, the other provisions of this part determine the priority of a security interest in an accession.(d) A security interest in an accession is subordinate to a security interest in the whole which is perfected by compliance with the requirements of a certificate-of-title statute under subsection (b) of Section 1-9-311 of this title.(e) After default, subject to Part 6 of this article, a secured party may remove an accession from other goods if the security interest in the accession has priority over the claims of every person having an interest in the whole.(f) A secured party that removes an accession from other goods under subsection (e) of this section shall promptly reimburse any holder of a security interest or other lien on, or owner of, the whole or of the other goods, other than the debtor, for the cost of repair of any physical injury to the whole or the other goods. The secured party need not reimburse the holder or owner for any diminution in value of the whole or the other goods caused by the absence of the accession removed or by any necessity for replacing it. A person entitled to reimbursement may refuse permission to remove until the secured party gives adequate assurance for the performance of the obligation to reimburse.Added by Laws 2000, c. 371, § 62, eff. July 1, 2001.
12A OK Stat § 12A-1-9-336 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-336. Commingled goods.

|COMMINGLED GOODS |(a) In this section, “commingled goods” means goods that are physically united with other goods in such a manner that their identity is lost in a product or mass.(b) A security interest does not exist in commingled goods as such. However, a security interest may attach to a product or mass that results when goods become commingled goods.(c) If collateral becomes commingled goods, a security interest attaches to the product or mass.(d) If a security interest in collateral is perfected before the collateral becomes commingled goods, the security interest that attaches to the product or mass under subsection (c) of this section is perfected.(e) Except as otherwise provided in subsection (f) of this section, the other provisions of this part determine the priority of a security interest that attaches to the product or mass under subsection (c) of this section.(f) If more than one security interest attaches to the product or mass under subsection (c) of this section, the following rules determine priority:(1) A security interest that is perfected under subsection (d) of this section has priority over a security interest that is unperfected at the time the collateral becomes commingled goods.(2) If more than one security interest is perfected under subsection (d) of this section, the security interests rank equally in proportion to value of the collateral at the time it became commingled goods.Added by Laws 2000, c. 371, § 63, eff. July 1, 2001.
12A OK Stat § 12A-1-9-337 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-337. Priority of security interests in goods covered by certificate of title.

|PRIORITY OF SECURITY INTERESTS IN |GOODS COVERED BY CERTIFICATE OF TITLEIf, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title that does not show that the goods are subject to the security interest or does not contain a statement that they may be subject to security interests not shown on the certificate:(1) a buyer of the goods, other than a person in the business of selling goods of that kind, takes free of the security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate and without knowledge of the security interest; and(2) the security interest is subordinate to a conflicting security interest in the goods that attaches, and is perfected under subsection (b) of Section 1-9-311 of this title, after issuance of the certificate and without the conflicting secured party’s knowledge of the security interest.Added by Laws 2000, c. 371, § 64, eff. July 1, 2001.
12A OK Stat § 12A-1-9-338 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-338. Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.

|PRIORITY OF SECURITY INTEREST OR |AGRICULTURAL LIEN PERFECTED BY FILED FINANCINGSTATEMENT PROVIDING CERTAIN INCORRECT INFORMATIONIf a security interest or agricultural lien is perfected by a filed financing statement providing information described in paragraph (5) of subsection (b) of Section 1-9-516 of this title which is incorrect at the time the financing statement is filed:(1) the security interest or agricultural lien is subordinate to a conflicting perfected security interest in the collateral to the extent that the holder of the conflicting security interest gives value in reasonable reliance upon the incorrect information; and(2) a purchaser, other than a secured party, of the collateral takes free of the security interest or agricultural lien to the extent that, in reasonable reliance upon the incorrect information, the purchaser gives value and, in the case of tangible chattel paper, tangible documents, goods, instruments, or a security certificate, receives delivery of the collateral.Added by Laws 2000, c. 371, § 65, eff. July 1, 2001. Amended by Laws 2005, c. 140, § 69, eff. Jan. 1, 2006.
12A OK Stat § 12A-1-9-339 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-339. Priority subject to subordination.

|PRIORITY SUBJECT TO SUBORDINATION |This article does not preclude subordination by agreement by a person entitled to priority.Added by Laws 2000, c. 371, § 66, eff. July 1, 2001.
12A OK Stat § 12A-1-9-340 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-340. Effectiveness of right of recoupment or set-off against deposit account.

|EFFECTIVENESS OF RIGHT OF RECOUPMENT OR |SET-OFF AGAINST DEPOSIT ACCOUNT(a) Except as otherwise provided in subsection (c) of this section, a bank with which a deposit account is maintained may exercise any right of recoupment or set-off against a secured party that holds a security interest in the deposit account.(b) Except as otherwise provided in subsection (c) of this section, the application of this article to a security interest in a deposit account does not affect a right of recoupment or set-off of the secured party as to a deposit account maintained with the secured party.(c) The exercise by a bank of a set-off against a deposit account is ineffective against a secured party that holds a security interest in the deposit account which is perfected by control under paragraph (3) of subsection (a) of Section 1-9-104 of this title, if the set-off is based on a claim against the debtor.Added by Laws 2000, c. 371, § 67, eff. July 1, 2001.
12A OK Stat § 12A-1-9-341 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-341. Bank’s rights and duties with respect to deposit account.

|BANK’S RIGHTS AND DUTIES WITH RESPECT TO DEPOSIT ACCOUNT |Except as otherwise provided in subsection (c) of Section 1-9-340 of this title, and unless the bank otherwise agrees in an authenticated record, a bank’s rights and duties with respect to a deposit account maintained with the bank are not terminated, suspended, or modified by:(1) the creation, attachment, or perfection of a security interest in the deposit account;(2) the bank’s knowledge of the security interest; or(3) the bank’s receipt of instructions from the secured party.Added by Laws 2000, c. 371, § 68, eff. July 1, 2001.
12A OK Stat § 12A-1-9-342 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-342. Bank’s right to refuse to enter into or disclose existence of control agreement.

|BANK’S RIGHT TO REFUSE TO ENTER INTO |OR DISCLOSE EXISTENCE OF CONTROL AGREEMENTThis article does not require a bank to enter into an agreement of the kind described in paragraph (2) of subsection (a) of Section 1-9-104 of this title, even if its customer so requests or directs. A bank that has entered into such an agreement is not required to confirm the existence of the agreement to another person unless requested to do so by its customer.Added by Laws 2000, c. 371, § 69, eff. July 1, 2001.
12A OK Stat § 12A-1-9-401 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-401. Alienability of debtor’s rights.

|ALIENABILITY OF DEBTOR’S RIGHTS |(a) Except as otherwise provided in subsection (b) of this section and Sections 1-9-406, 1-9-407, 1-9-408, and 1-9-409 of this title, whether a debtor’s rights in collateral may be voluntarily or involuntarily transferred is governed by law other than this article.(b) An agreement between the debtor and secured party which prohibits a transfer of the debtor’s rights in collateral or makes the transfer a default does not prevent the transfer from taking effect.Added by Laws 2000, c. 371, § 70, eff. July 1, 2001.
12A OK Stat § 12A-1-9-402 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-402. Secured party not obligated on contract of debtor or in tort.

|SECURED PARTY NOT OBLIGATED ON |CONTRACT OF DEBTOR OR IN TORTThe existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor’s acts or omissions.Added by Laws 2000, c. 371, § 71, eff. July 1, 2001.
12A OK Stat § 12A-1-9-403 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-403. Agreement not to assert defenses against assignee.

|AGREEMENT NOT TO ASSERT DEFENSES AGAINST ASSIGNEE |(a) In this section, “value” has the meaning provided in subsection (a) of Section 3-303 of this title.(b) Except as otherwise provided in this section, an agreement between an account debtor and an assignor not to assert against an assignee any claim or defense that the account debtor may have against the assignor is enforceable by an assignee that takes an assignment:(1) for value;(2) in good faith;(3) without notice of a claim of a property or possessory right to the property assigned; and(4) without notice of a defense or claim in recoupment of the type that may be asserted against a person entitled to enforce a negotiable instrument under subsection (a) Section 3-305 of this title.(c) Subsection (b) of this section does not apply to defenses of a type that may be asserted against a holder in due course of a negotiable instrument under subsection (b) of Section 3-305 of this title.(d) In a consumer transaction, if a record evidences the account debtor’s obligation, law other than this article requires that the record include a statement to the effect that the rights of an assignee are subject to claims or defenses that the account debtor could assert against the original obligee, and the record does not include such a statement:(1) the record has the same effect as if the record included such a statement; and(2) the account debtor may assert against an assignee those claims and defenses that would have been available if the record included such a statement.(e) This section is subject to law other than this article which establishes a different rule for an account debtor who is an individual and who incurred the obligation primarily for personal, family, or household purposes.(f) Except as otherwise provided in subsection (d) of this section, this section does not displace law other than this article which gives effect to an agreement by an account debtor not to assert a claim or defense against an assignee.Added by Laws 2000, c. 371, § 72, eff. July 1, 2001.