reglab/housing_qa huggingface dataset:
12A OK Stat § 12A-1-9-621 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-621. Notification of proposal to accept collateral.

|NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL |(a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to:(1) any person from which the secured party has received, before the debtor consented to the acceptance, an authenticated notification of a claim of an interest in the collateral;(2) any other secured party or lienholder that, ten (10) days before the debtor consented to the acceptance, held a security interest in or other lien on the collateral perfected by the filing of a financing statement that:(A)identified the collateral;(B)was indexed under the debtor’s name as of that date; and(C)was filed in the office or offices in which a financing statement against the debtor covering the collateral as of that date would have been filed; and(3) any other secured party that, ten (10) days before the debtor consented to the acceptance, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in subsection (a) of Section 1-9-311 of this title.(b) A secured party that desires to accept collateral in partial satisfaction of the obligation it secures shall send its proposal to any secondary obligor in addition to the persons described in subsection (a) of this section.Added by Laws 2000, c. 371, § 128, eff. July 1, 2001.
12A OK Stat § 12A-1-9-622 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-622. Effect of acceptance of collateral.

|EFFECT OF ACCEPTANCE OF COLLATERAL |(a) A secured party’s acceptance of collateral in full or partial satisfaction of the obligation it secures:(1) discharges the obligation to the extent consented to by the debtor;(2) transfers to the secured party all of a debtor’s rights in the collateral;(3) discharges the security interest or agricultural lien that is the subject of the debtor’s consent and any subordinate security interest or other subordinate lien; and(4) terminates any other subordinate interest.(b) A subordinate interest is discharged or terminated under subsection (a) of this section, even if the secured party fails to comply with this article.Added by Laws 2000, c. 371, § 129, eff. July 1, 2001.
12A OK Stat § 12A-1-9-623 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-623. Right to redeem collateral.

|RIGHT TO REDEEM COLLATERAL |(a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral.(b) To redeem collateral, a person shall tender:(1) fulfillment of all obligations secured by the collateral; and(2) the reasonable expenses and attorney’s fees described in paragraph (1) of subsection (a) of Section 1-9-615 of this title.(c) A redemption may occur at any time before a secured party:(1) has collected collateral under Section 1-9-607 of this title;(2) has disposed of collateral or entered into a contract for its disposition under Section 1-9-610 of this title; or(3) has accepted collateral in full or partial satisfaction of the obligation it secures under Section 1-9-622 of this title.Added by Laws 2000, c. 371, § 130, eff. July 1, 2001.
12A OK Stat § 12A-1-9-624 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-624. Waiver.

|WAIVER |(a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 1-9-611 of this title only by an agreement to that effect entered into and authenticated after default.(b) A debtor may waive the right to require disposition of collateral under subsection (e) of Section 1-9-620 of this title only by agreement to that effect entered into and authenticated after default.(c) Except in a consumer-goods transaction, a debtor or secondary obligor may waive the right to redeem collateral under Section 1-9-623 of this title only by an agreement to that effect entered into and authenticated after default.Added by Laws 2000, c. 371, § 131, eff. July 1, 2000.
12A OK Stat § 12A-1-9-626 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-626. Action in which deficiency or surplus is in issue.

|ACTION IN WHICH DEFICIENCY OR SURPLUS IS IN ISSUE |(a) In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the following rules apply:(1) A secured party need not prove compliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party’s compliance in issue.(2) If the secured party’s compliance is placed in issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in accordance with this part.(3) Except as otherwise provided in Section 1-9-628 of this title, if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is limited to an amount by which the sum of the secured obligation, expenses, and attorney’s fees exceeds the greater of:(A)the proceeds of the collection, enforcement, disposition, or acceptance; or(B)the amount of proceeds that would have been realized had the noncomplying secured party proceeded in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance.(4) For purposes of subparagraph (B) of paragraph (3) of this subsection, the amount of proceeds that would have been realized is equal to the sum of the secured obligation, expenses, and attorney’s fees unless the secured party proves that the amount is less than that sum.(5) If a deficiency or surplus is calculated under subsection (f) of Section 1-9-615 of this title, the debtor or obligor has the burden of establishing that the amount of proceeds of the disposition is significantly below the range of prices that a complying disposition to a person other than the secured party, a person related to the secured party, or a secondary obligor would have brought.(b) The limitation of the rules in subsection (a) of this section to transactions other than consumer transactions is intended to leave to the court the determination of the proper rules in consumer transactions. The court may not infer from that limitation the nature of the proper rule in consumer transactions and may continue to apply established approaches.Added by Laws 2000, c. 371, § 133, eff. July 1, 2001.
12A OK Stat § 12A-1-9-627 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-627. Determination of whether conduct was commercially reasonable.

|DETERMINATION OF WHETHER CONDUCT |WAS COMMERCIALLY REASONABLE(a) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a different method from that selected by the secured party is not of itself sufficient to preclude the secured party from establishing that the collection, enforcement, disposition, or acceptance was made in a commercially reasonable manner.(b) A disposition of collateral is made in a commercially reasonable manner if the disposition is made:(1) in the usual manner on any recognized market;(2) at the price current in any recognized market at the time of the disposition; or(3) otherwise in conformity with reasonable commercial practices among dealers in the type of property that was the subject of the disposition.(c) A collection, enforcement, disposition, or acceptance is commercially reasonable if it has been approved:(1) in a judicial proceeding;(2) by a bona fide creditors’ committee;(3) by a representative of creditors; or(4) by an assignee for the benefit of creditors.(d) Approval under subsection (c) of this section need not be obtained, and lack of approval does not mean that the collection, enforcement, disposition, or acceptance is not commercially reasonable.Added by Laws 2000, c. 371, § 134, eff. July 1, 2001.
12A OK Stat § 12A-1-9-628 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-628. Nonliability and limitation on liability of secured party; liability of secondary obligor.

|NONLIABILITY AND LIMITATION ON LIABILITY |OF SECURED PARTY; LIABILITY OF SECONDARY OBLIGOR(a) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person:(1) the secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this article; and(2) the secured party’s failure to comply with this article does not affect the liability of the person for a deficiency.(b) A secured party is not liable because of its status as secured party:(1) to a person that is a debtor or obligor, unless the secured party knows:(A)that the person is a debtor or obligor;(B)the identity of the person; and(C)how to communicate with the person; or(2) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:(A)that the person is a debtor; and(B)the identity of the person.(c) A secured party is not liable to any person, and a person’s liability for a deficiency is not affected, because of any act or omission arising out of the secured party’s reasonable belief that a transaction is not a consumer-goods transaction or a consumer transaction or that goods are not consumer goods, if the secured party’s belief is based on its reasonable reliance on:(1) a debtor’s representation concerning the purpose for which collateral was to be used, acquired, or held; or(2) an obligor’s representation concerning the purpose for which a secured obligation was incurred.(d) A secured party is not liable to any person under paragraph (2) of subsection (c) of Section 1-9- 625 of this title for its failure to comply with Section 1-9-616 of this title.(e) A secured party is not liable under paragraph (2) of subsection (c) of Section 1-9-625 of this title more than once with respect to any one secured obligation.Added by Laws 2000, c. 371, § 135, eff. July 1, 2001.
12A OK Stat § 12A-1-9-702 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-702. Savings clause.

|SAVINGS CLAUSE |(a) Except as otherwise provided in this part, this act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before this act takes effect.(b) Except as otherwise provided in subsection (c) of this section and Sections 1-9-703 through 1-9-709 of this title:(1) transactions and liens that were not governed by former Article 9 of this title, were validly entered into or created before this act takes effect, and would be subject to this act if they had been entered into or created after this act takes effect, and the rights, duties, and interests flowing from those transactions and liens remain valid after this act takes effect; and(2) the transactions and liens may be terminated, completed, consummated, and enforced as required or permitted by this act or by the law that otherwise would apply if this act had not taken effect.(c) This act does not affect an action, case, or proceeding commenced before this act takes effect.Added by Laws 2000, c. 371, § 136, eff. July 1, 2001.
12A OK Stat § 12A-1-9-703 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-703. Security interest perfected before effective date.

|SECURITY INTEREST PERFECTED BEFORE EFFECTIVE DATE |(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.Added by Laws 2000, c. 371, § 137, eff. July 1, 2001.
12A OK Stat § 12A-1-9-704 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-704. Security interest unperfected before effective date.

|SECURITY INTEREST UNPERFECTED BEFORE EFFECTIVE DATE |A security interest that is enforceable immediately before this act takes effect but which would be subordinate to the rights of a person that becomes a lien creditor at that time:(1) remains an enforceable security interest for one (1) year after this act takes effect;(2) remains enforceable thereafter if the security interest becomes enforceable under Section 1-9-203 of this title when this act takes effect or within one (1) year thereafter; and(3) becomes perfected:(A)without further action, when this act takes effect if the applicable requirements for perfection under this act are satisfied before or at that time; or(B)when the applicable requirements for perfection are satisfied if the requirements are satisfied after that time.Added by Laws 2000, c. 371, § 138, eff. July 1, 2001.
12A OK Stat § 12A-1-9-706 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-706. When initial financing statement suffices to continue effectivness of financing statement.

|WHEN INITIAL FINANCING STATEMENT SUFFICES |TO CONTINUE EFFECTIVNESS OF FINANCING STATEMENT(a) The filing of an initial financing statement in the office specified in Section 1-9-501 of this title continues the effectiveness of a financing statement filed before this act takes effect if:(1) the filing of an initial financing statement in that office would be effective to perfect a security interest under this act;(2) the pre-effective-date financing statement was filed in an office in another state or another office in this state; and(3) the initial financing statement satisfies subsection (c) of this section.(b) The filing of an initial financing statement under subsection (a) of this section continues the effectiveness of the pre-effective-date financing statement:(1) if the initial financing statement is filed before this act takes effect, for the period provided in former Section 9-403 of this title with respect to a financing statement; and(2) if the initial financing statement is filed after this act takes effect, for the period provided in Section 1-9-515 of this title with respect to an initial financing statement.(c) To be effective for purposes of subsection (a) of this section, an initial financing statement must:(1) satisfy the requirements of Part 5 of this article for an initial financing statement;(2) identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and(3) indicate that the pre-effective-date financing statement remains effective.Added by Laws 2000, c. 371, § 140, eff. July 1, 2001.
12A OK Stat § 12A-1-9-707 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-707. Persons entitled to file initial financing statement.

|PERSONS ENTITLED TO FILE INITIAL FINANCING STATEMENT |(a) In this section, "pre-effective-date financing statement" means a financing statement filed before this act takes effect.(b) After this act takes effect, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or otherwise amend the information provided in, a pre-effective-date financing statement only in accordance with the law of the jurisdiction governing perfection as provided in Part 3 of this article of this title. However, the effectiveness of a pre-effective-date financing statement also may be terminated in accordance with the law of the jurisdiction in which the financing statement is filed.(c) Except as otherwise provided in subsection (d) of this section, if the law of this state governs perfection of a security interest, the information in a pre-effective-date financing statement may be amended after this act takes effect only if:(1) the pre-effective-date financing statement and an amendment are filed in the office specified in Section 1-9-501 of this title;(2) an amendment is filed in the office specified in Section 1-9-501 of this title concurrently with, or after the filing in that office of, an initial financing statement that satisfies subsection (c) of Section 1-9-706 of this title; or(3) an initial financing statement that provides the information as amended and satisfies subsection (c) of Section 1-9-706 of this title is filed in the office specified in Section 1-9-501 of this title.(d) If the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement may be continued only under subsections (d) and (f) of Section 1-9-705 or Section 1-9-706 of this title.(e) Whether or not the law of this state governs perfection of a security interest, the effectiveness of a pre-effective-date financing statement filed in this state may be terminated after this act takes effect by filing a termination statement in the office in which the pre-effective-date financing statement is filed, unless an initial financing statement that satisfies subsection (c) of Section 1-9-706 of this title has been filed in the office specified by the law of the jurisdiction governing perfection as provided in Part 3 of this article of this title as the office in which to file a financing statement.Added by Laws 2000, c. 371, § 141, eff. July 1, 2001. Amended by Laws 2001, c. 354, § 4, eff. July 1, 2001.
12A OK Stat § 12A-1-9-708 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-708. Persons entitled to file initial financing statement or continuation statement.

|PERSONS ENTITLED TO FILE INITIAL |FINANCING STATEMENT OR CONTINUATION STATEMENTA person may file an initial financing statement or a continuation statement under this part if:(1) the secured party of record authorizes the filing; and(2) the filing is necessary under this part:(A)to continue the effectiveness of a financing statement filed before this act takes effect; or(B)to perfect or continue the perfection of a security interest.Added by Laws 2000, c. 371, § 142, eff. July 1, 2001.
12A OK Stat § 12A-1-9-709 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-709. Priority.

|PRIORITY |(a) This act determines the priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before this act takes effect, former Article 9 determines priority.(b) For purposes of subsection (a) of Section 1-9-322 of this title, the priority of a security interest that becomes enforceable under Section 1-9-203 of this title dates from the time this act takes effect if the security interest is perfected under this act by the filing of a financing statement before this act takes effect which would not have been effective to perfect the security interest under former Article 9 of this title. This subsection does not apply to conflicting security interests each of which is perfected by the filing of such a financing statement.Added by Laws 2000, c. 371, § 143, eff. July 1, 2001.
12A OK Stat § 12A-1-9-710 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-710. Duties of local-filing offices.

|(a) In this section: |(1) “Local-filing office” means a filing office, other than the statewide filing office in the office of the County Clerk of Oklahoma County or the statewide filing office in the office of the Secretary of State, that is designated as the proper place to file a financing statement under former Article 9 of this title;(2)(A)“Former-Article 9 records” means:(i)financing statements and other records that have been filed in a local-filing office before July 1, 2001, and that are, or upon processing and indexing will be, reflected in the index maintained by the local-filing office for filing for financing statements and other records filed in the local-filing office before July 1, 2001, and(ii)the index maintained by the local-filing office as of June 30, 2001, including entries for filings completed before July 1, 2001, even though processed on or after that date.(B)“Former-Article 9 records” do not include records presented to a local-filing office for filing after June 30, 2001, whether or not the records relate to financing statements filed in the local-filing office before July 1, 2001; and(3) “Mortgage”, “as-extracted collateral”, “fixture filing”, “goods” and “fixtures” have the meanings set forth in this article of this title.(b) A local-filing office shall not accept for filing a record presented after June 30, 2001, whether or not the record relates to a financing statement filed in the local-filing office before July 1, 2001.(c) Until July 1, 2008, each local-filing office shall maintain all former-Article 9 records in accordance with former-Article 9. A former-Article 9 record which is filed before July 1, 2001, but which is not reflected on the index maintained as of June 30, 2001, by the local-filing office, shall be processed and indexed and reflected on the index maintained as of June 30, 2001, as soon as practicable, but in no event later than July 30, 2001.(d) Until July 1, 2008, each local-filing office shall respond to requests for information with respect to former-Article 9 records relating to a debtor and shall issue certificates in accordance with former-Article 9. The fees for issuing a certificate or for furnishing a certified copy of a former-Article 9 record shall be the uniform fees provided by subsections (c) and (d) of Section 1-9-525 of this title.(e) After June 30, 2008, each local-filing office may remove and destroy all former-Article 9 records pursuant to Section 155.2 of Title 19 of the Oklahoma Statutes.(f) This section shall not apply, with respect to financing statements and other records, to a filing office in which mortgages or records of mortgages on real property are required to be filed or recorded if:(1) the collateral is timber to be cut or as-extracted collateral, or(2) the record is or relates to a financing statement files as a fixture filing and the collateral is goods that are or are to become fixtures.Added by Laws 2000, c. 371, § 144, eff. July 1, 2001. Amended by Laws 2001, c. 354, § 5, eff. July 1, 2001.
12A OK Stat § 12A-1-9-801 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-801. [Blank].

|[Blank] |Added by Laws 2015, c. 374, § 17, eff. Nov. 1, 2015.
12A OK Stat § 12A-1-9-802 (2021)
2021 Oklahoma Statutes|Title 12A. Commercial Code|§12A-1-9-802. Savings clause.

|SAVINGS CLAUSE |(a) Except as otherwise provided in this part, this act applies to a transaction or lien within its scope, even if the transaction or lien was entered into or created before November 1, 2015.(b) This act does not affect an action, case, or proceeding commenced before November 1, 2015.Added by Laws 2015, c. 374, § 18, eff. Nov. 1, 2015.