reglab/statecodes huggingface dataset:
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-507. Effect of certain events on effectiveness of financing statement.

EFFECT OF CERTAIN EVENTS ON
EFFECTIVENESS OF FINANCING STATEMENT
(a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.
(b) Except as otherwise provided in subsection (c) of this section and Section 1-9-508 of this title, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under Section 1-9-506 of this title.
(c) If the name that a filed financing statement provides for a debtor becomes insufficient as the name of the debtor under subsection (a) of Section 1-9-503 of this title so that the financing statement becomes seriously misleading under Section 1-9-506 of this title:
(1) the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four (4) months after, the filed financing statement becomes seriously misleading; and
(2) the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four (4) months after the filed financing statement becomes seriously misleading, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four (4) months after that event.
Added by Laws 2000, c. 371, § 85, eff. July 1, 2001. Amended by Laws 2015, c. 374, § 12, eff. Nov. 1, 2015.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-508. Effectiveness of financing statement if new debtor becomes bound by security agreement.

EFFECTIVENESS OF FINANCING STATEMENT IF
NEW DEBTOR BECOMES BOUND BY SECURITY AGREEMENT
(a) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest in collateral in which a new debtor has or acquires rights to the extent that the financing statement would have been effective had the original debtor acquired rights in the collateral.
(b) If the difference between the name of the original debtor and that of the new debtor causes a filed financing statement that is effective under subsection (a) of this section to be seriously misleading under Section 1-9-506 of this title:
(1) the financing statement is effective to perfect a security interest in collateral acquired by the new debtor before, and within four (4) months after, the new debtor becomes bound under subsection (d) of Section 1-9-203 of this title; and
(2) the financing statement is not effective to perfect a security interest in collateral acquired by the new debtor more than four (4) months after the new debtor becomes bound under subsection (d) of Section 1-9-203 of this title unless an initial financing statement providing the name of the new debtor if filed before the expiration of that time.
(c) This section does not apply to collateral for which a filed financing statement remains effective against the new debtor under subsection (a) of Section 1-9-507 of this title.
Added by Laws 2000, c. 371, § 86, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-509. Persons entitled to file a record.

PERSONS ENTITLED TO FILE A RECORD
(a) A person may file an initial financing statement, amendment that adds collateral covered by a financing statement, or amendment that adds a debtor to a financing statement only if:
(1) the debtor authorizes the filing in an authenticated record; or
(2) the person holds an agricultural lien that has become effective at the time of filing and the financing statement covers only collateral in which the person holds an agricultural lien.
(b) By authenticating or becoming bound as a debtor by a security agreement, a debtor or new debtor authorizes the filing of an initial financing statement, and an amendment, covering:
(1) the collateral described in the security agreement; and
(2) property that becomes collateral under paragraph (2) of subsection (a) of Section 1-9-315 of this title, whether or not the security agreement expressly covers proceeds.
(c) By acquiring collateral in which a security interest or agricultural lien continues under paragraph (1) of subsection (a) of Section 1-9-315 of this title, a debtor authorizes the filing of an initial financing statement, and an amendment, covering the collateral and property that becomes collateral under paragraph (2) of subsection (a) of Section 1-9-315 of this title.
(d) A person may file an amendment other than an amendment that adds collateral covered by a financing statement or an amendment that adds a debtor to a financing statement only if:
(1) the secured party of record authorizes the filing; or
(2) the amendment is a termination statement for a financing statement for which the secured party of record has failed to file or send a termination statement as required by subsection (a) or (c) of Section 1-9-513 of this title, the debtor authorizes the filing, and the termination statement indicates that the debtor authorized it to be filed.
(e) If there is more than one secured party of record for a financing statement, each secured party of record may authorize the filing of an amendment under subsection (d) of this section.
Added by Laws 2000, c. 371, § 87, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-510. Effectiveness of filed record.

EFFECTIVENESS OF FILED RECORD
(a) A filed record is effective only to the extent that it was filed by a person that may file it under Section 1-9-509 of this title.
(b) A record authorized by one secured party of record does not affect the financing statement with respect to another secured party of record.
(c) A continuation statement that is not filed within the six-month period prescribed by subsection (d) of Section 1-9-515 of this title is ineffective.
Added by Laws 2000, c. 371, § 88, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-511. Secured party of record.

SECURED PARTY OF RECORD
(a) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a representative of the secured party in an initial financing statement that has been filed. If an initial financing statement is filed under subsection (a) of Section 1-9-514 of this title, the assignee named in the initial financing statement is the secured party of record with respect to the financing statement.
(b) If an amendment of a financing statement which provides the name of a person as a secured party or a representative of a secured party is filed, the person named in the amendment is a secured party of record. If an amendment is filed under subsection (b) of Section 1-9-514 of this title, the assignee named in the amendment is a secured party of record.
(c) A person remains a secured party of record until the filing of an amendment of the financing statement which deletes the person.
Added by Laws 2000, c. 371, § 89, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-512. Amendment of financing statement.

AMENDMENT OF FINANCING STATEMENT
(a) Subject to Section 1-9-509 of this title, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subsection (e) of this section, otherwise amend the information provided in, a financing statement by filing an amendment that:
(1) identifies, by its file number, the initial financing statement to which the amendment relates; and
(2) if the amendment relates to an initial financing statement filed or recorded in a filing office described in paragraph (1) of subsection (a) of Section 1-9-501 of this title, provides the file number and date that the initial financing statement was filed or recorded, and the information specified in subsection (b) of Section 1-9-502 of this title.
(b) Except as otherwise provided in Section 1-9-515 of this title, the filing of an amendment does not extend the period of effectiveness of the financing statement.
(c) A financing statement that is amended by an amendment that adds collateral is effective as to the added collateral only from the date of the filing of the amendment.
(d) A financing statement that is amended by an amendment that adds a debtor is effective as to the added debtor only from the date of the filing of the amendment.
(e) An amendment is ineffective to the extent it:
(1) purports to delete all debtors and fails to provide the name of a debtor to be covered by the financing statement; or
(2) purports to delete all secured parties of record and fails to provide the name of a new secured party of record.
Added by Laws 2000, c. 371, § 90, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-513. Termination statement.

TERMINATION STATEMENT
(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and:
(1) there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2) the debtor did not authorize the filing of the initial financing statement.
(b) To comply with subsection (a) of this section, a secured party shall cause the secured party of record to file the termination statement:
(1) within one (1) month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value; or
(2) if earlier, within twenty (20) days after the secured party receives an authenticated demand from a debtor.
(c) In cases not governed by subsection (a) of this section, within twenty (20) days after a secured party receives an authenticated demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if:
(1) except in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value;
(2) the financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation;
(3) the financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor’s possession; or
(4) the debtor did not authorize the filing of the initial financing statement.
(d) Except as otherwise provided in Section 1-9-510 of this title, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in Section 1-9-510 of this title, for purposes of subsection (g) of Section 1-9-519, subsection (a) of Section 1-9-522, and subsection (c) of Section 1-9-523 of this title, the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse.
Added by Laws 2000, c. 371, § 91, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-514. Assignment of powers of secured party of record.

ASSIGNMENT OF POWERS OF SECURED PARTY OF RECORD
(a) Except as otherwise provided in subsection (c) of this section, an initial financing statement may reflect an assignment of all of the secured party’s power to authorize an amendment to the financing statement by providing the name and mailing address of the assignee as the name and address of the secured party.
(b) Except as otherwise provided in subsection (c) of this section, a secured party of record may assign of record all or part of its power to authorize an amendment to a financing statement by filing in the filing office an amendment of the financing statement which:
(1) identifies, by its file number, the initial financing statement to which it relates;
(2) provides the name of the assignor; and
(3) provides the name and mailing address of the assignee.
(c) An assignment of record of a security interest in a fixture covered by a record of a mortgage which is effective as a fixture filing under subsection (c) of Section 1-9-502 of this title may be made only by an assignment of record of the mortgage in the manner provided by law of this state other than the Uniform Commercial Code.
Added by Laws 2000, c. 371, § 92, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-515. Duration and effectiveness of financing statement; effect of lapsed financing statement.

DURATION AND EFFECTIVENESS OF FINANCING STATEMENT;
EFFECT OF LAPSED FINANCING STATEMENT
(a) Except as otherwise provided in subsections (b), (e), (f), and (g) of this section, a filed financing statement is effective for a period of five (5) years after the date of filing.
(b) Except as otherwise provided in subsections (e), (f), and (g) of this section, an initial financing statement filed in connection with a public-finance transaction or manufactured-home transaction is effective for a period of thirty (30) years after the date of filing if it indicates that it is filed in connection with a public-finance transaction or manufactured-home transaction.
(c) The effectiveness of a filed financing statement lapses on the expiration of the period of its effectiveness unless before the lapse a continuation statement is filed pursuant to subsection (d) of this section. Upon lapse, a financing statement ceases to be effective and any security interest or agricultural lien that was perfected by the financing statement becomes unperfected, unless the security interest is perfected otherwise. If the security interest or agricultural lien becomes unperfected upon lapse, it is deemed never to have been perfected as against a purchaser of the collateral for value.
(d) A continuation statement may be filed only within six (6) months before the expiration of the five-year period specified in subsection (a) of this section or the thirty-year period specified in subsection (b) of this section, whichever is applicable.
(e) Except as otherwise provided in Section 1-9-510 of this title, upon timely filing of a continuation statement, the effectiveness of the initial financing statement continues for a period of five (5) years commencing on the day on which the financing statement would have become ineffective in the absence of the filing. Upon the expiration of the five-year period, the financing statement lapses in the same manner as provided in subsection (c) of this section, unless, before the lapse, another continuation statement is filed pursuant to subsection (d) of this section. Succeeding continuation statements may be filed in the same manner to continue the effectiveness of the initial financing statement.
(f) If a debtor is a transmitting utility and a filed financing statement so indicates, the financing statement is effective until a termination statement is filed.
(g) A record of a mortgage that is effective as a financing statement filed as a fixture filing under subsection (c) of Section 1-9-502 of this title remains effective as a financing statement filed as a fixture filing until the mortgage is released or satisfied of record or its effectiveness otherwise terminates as to the real property.
Added by Laws 2000, c. 371, § 93, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-518. Claim concerning inaccurate or wrongfully filed record.

CLAIM CONCERNING INACCURATE OR WRONGFULLY FILED RECORD
(a) A person may file in the filing office an information statement with respect to a record indexed there under the person's name if the person believes that the record is inaccurate or was wrongfully filed.
(b) An information statement under subsection (a) of this section must:
(1) identify the record to which it relates by:
(A)
the file number of the initial financing statement to which the record relates; and
(B)
if the information statement relates to a record filed or recorded in a filing office described in paragraph (1) of subsection (a) of Section 1-9-501 of this title, the file number, the date that the initial financing statement was filed or recorded, and the information specified in subsection (b) of Section 1-9-502 of this title;
(2) indicate that it is an information statement; and
(3) provide the basis for the person's belief that the record is inaccurate and indicate the manner in which the person believes the record should be amended to cure any inaccuracy or provide the basis for the person's belief that the record was wrongfully filed.
(c) A person may file in the filing office an information statement with respect to a record filed there if the person is a secured party of record with respect to the financing statement to which the record relates and believes that the person that filed the record was not entitled to do so under subsection (d) of Section 1-9-509 of this title.
(d) An information statement under subsection (c) of this section must:
(1) identify the record to which it relates by:
(A)
the file number assigned to the initial financing statement to which the record relates; and
(B)
if the statement relates to a record filed or recorded in a filing office described in paragraph (1) of subsection (a) of Section 1-9-501 of this title, the date that the initial financing statement was filed or recorded and the information specified in subsection (b) of Section 1-9-502 of this title;
(2) indicate that it is an information statement; and
(3) provide the basis for the person's belief that the person that filed the record was not entitled to do so under subsection (d) of Section 1-9-509 of this title.
(e) The filing of an information statement does not affect the effectiveness of an initial financing statement or other filed record.
Added by Laws 2000, c. 371, § 96, eff. July 1, 2001. Amended by Laws 2015, c. 374, § 14, eff. Nov. 1, 2015.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-520. Acceptance and refusal to accept record.

ACCEPTANCE AND REFUSAL TO ACCEPT RECORD
(a) A filing office shall refuse to accept a record for filing for a reason set forth in subsection (b) of Section 1-9-516 of this title and may refuse to accept a record for filing only for a reason set forth in subsection (b) of Section 1-9-516 of this title.
(b) If a filing office refuses to accept a record for filing, it shall communicate to the person that presented the record the fact of and reason for the refusal and the date and time the record would have been filed had the filing office accepted it. The communication must be made at the time and in the manner prescribed by filing-office rule, but, in the case of a filing office described in paragraph (2) of subsection (a) of Section 1-9-501 of this title, in no event more than two (2) business days after the filing office receives the record.
(c) A filed financing statement satisfying subsections (a) and (b) of Section 1-9-502 of this title is effective, even if the filing office is required to refuse to accept it for filing under subsection (a). However, Section 1-9-338 of this title applies to 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.
(d) If a record communicated to a filing office provides information that relates to more than one debtor, this part applies to each debtor separately.
Added by Laws 2000, c. 371, § 98, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-522. Maintenance and destruction of records.

MAINTENANCE AND DESTRUCTION OF RECORDS
(a) The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the effectiveness of the financing statement has lapsed under Section 1-9-515 of this title with respect to all secured parties of record. The record must be retrievable by using the name of the debtor and:
(1) if the record was filed or recorded in the filing office described in paragraph (1) of subsection (a) of Section 1-9-501 of this title, by using the file number of the initial financing statement to which the record relates and the date and that the record was filed or recorded, and by the legal description of the real estate adequate for the purposes of indexing in the tract indexes of the county where the real estate is situated; or
(2) if the record was filed in the filing office described in paragraph (2) of subsection (a) of Section 1-9-501 of this title, by using the file number of the initial financing statement to which the record relates.
(b) Except to the extent that a statute governing disposition of public records provides otherwise, the filing office immediately may destroy any written record evidencing a financing statement. However, if the filing office destroys a written record, it shall maintain another record of the financing statement which complies with subsection (a) of this section.
Added by Laws 2000, c. 371, § 100, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-523. Information from filing office; sale or license of records.

INFORMATION FROM FILING OFFICE; SALE OR LICENSE OF RECORDS
(a) If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the record showing the number assigned to the record pursuant to paragraph (1) of subsection (a) of Section 1-9-519 of this title and the date and time of the filing of the record. However, if the person furnishes a copy of the record to the filing office, the filing office may instead:
(1) note upon the copy the number assigned to the record pursuant to paragraph (1) of subsection (a) of Section 1-9-519 of this title and the date and time of the filing of the record; and
(2) send the copy to the person.
(b) If a person files a record other than a written record, the filing office shall communicate to the person an acknowledgment that provides:
(1) the information in the record;
(2) the number assigned to the record pursuant to paragraph (1) of subsection (a) of Section 1-9-519 of this title; and
(3) the date and time of the filing of the record.
(c) The filing office shall communicate or otherwise make available in a record the following information to any person that requests it:
(1) whether there is on file on a date and time specified by the filing office, but not a date earlier than three (3) business days before the filing office receives the request, any financing statement that:
(A)
designates a particular debtor or, if the request so states, designates a particular debtor at the address specified in the request;
(B)
has not lapsed under Section 1-9-515 of this title with respect to all secured parties of record; and
(C)
if the request so states, has lapsed under Section 1-9-515 of this title and a record of which is maintained by the filing office under subsection (a) of Section 1-9-522 of this title;
(2) the date and time of filing of each financing statement; and
(3) the information provided in each financing statement.
(d) In complying with its duty under subsection (c) of this section, the filing office may communicate information in any medium. However, if requested, the filing office shall communicate information by issuing a record that can be admitted into evidence in the courts of this state without extrinsic evidence of its authenticity.
(e) The filing office shall perform the acts required by subsections (a) through (d) of this section at the time and in the manner prescribed by filing-office rule, but not later than two (2) business days after the filing office receives the request.
(f) At least weekly, the filing office shall offer to sell or license to the public on a nonexclusive basis, in bulk, copies of all records filed in it under this part, in every medium from time to time available to the filing office.
Added by Laws 2000, c. 371, § 101, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-524. Delay by filing office.

DELAY BY FILING OFFICE
Delay by the filing office beyond a time limit prescribed by this part is excused if:
(1) the delay is caused by interruption of communication or computer facilities, war, emergency conditions, failure of equipment, or other circumstances beyond control of the filing office; and
(2) the filing office exercises reasonable diligence under the circumstances.
Added by Laws 2000, c. 371, § 102, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-525.1. Disposition of fees.

DISPOSITION OF FEES
(a) There is hereby created a cash account to be known as the “Oklahoma County Clerk’s Uniform Commercial Code Central Filing Fund”. The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all fees and penalties collected pursuant to Section 1-9-525 of this title by the county clerk of Oklahoma County, all monies otherwise credited to the account, and any interest accruing thereon.
(b) Monies in this account shall be expended in the following amounts for the following purposes:
(1) Of the fees collected pursuant to paragraphs (1) and (2) of subsection (a) of Section 1-9-525 of this title, Five Dollars ($5.00) shall be paid monthly by the thirtieth day following the month in which collected to the general fund of Oklahoma County as a liquidated fee for capital and other expenses associated with operation of the filing office; and
(2) All other fees or parts of fees and any interest accruing to this account shall be expended by the county clerk of Oklahoma County for the lawful operation of the filing office.
(c) The county clerk of Oklahoma County may, by rule, establish prepaid fee accounts. If adopted, the rule shall provide for at least the following:
(1) An application for an account on a form prescribed in the rule;
(2) A one-time application fee of not more than Twenty Dollars ($20.00);
(3) Acceptable methods of making deposits to an account;
(4) Any requirements for a minimum initial deposit, a minimum balance, and a minimum amount for subsequent deposits;
(5) The fees and penalties which may be paid from the account;
(6) Procedures for making deposits to and payments from an account; and
(7) Procedures for closing an account.
Added by Laws 2000, c. 371, § 104, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-525. Fees.

FEES
(a) Except as otherwise provided in subsection (e) of this section, the fee for filing and indexing a record under this part, other than an initial financing statement of the kind described in subsection (c) of Section 1-9-502 of this title, is:
(1) Ten Dollars ($10.00) if the record is communicated in writing and consists of one to five pages, and an additional One Dollar ($1.00) per page for each page exceeding five; and
(2) Ten Dollars ($10.00) if the record is communicated by an electronic medium authorized by filing-office rule.
(b) The number of names required to be indexed does not affect the amount of the fee in subsection (a) of this section.
(c) The fee for responding to a request for information from the filing office in any medium designated by the filing office, including issuing a certificate showing whether there is on file any financing statement naming a particular debtor, is Ten Dollars ($10.00) for each debtor.
(d) The fee for a copy of a record is One Dollar ($1.00) per page regardless of the medium used.
(e) This section does not require a fee with respect to a record of a mortgage which is effective as a financing statement filed as a fixture filing or as a financing statement covering as-extracted collateral or timber to be cut under subsection (c) of Section 1-9-502 of this title. However, the recording and satisfaction fees that otherwise would be applicable to the record of the mortgage apply pursuant to paragraphs 1, 2, 4, 7, 11, 15 and 16 of subsection A of Section 32 of Title 28 of the Oklahoma Statutes.
(f) The fee for providing certified copies shall be One Dollar ($1.00) per page regardless of medium.
(g) The fee for providing bulk data of indexed records as described in subsection (f) of Section 1-9-523 of this title is as follows:
(1) Five Hundred Dollars ($500.00) for the initial database history.
(2) Fifty Dollars ($50.00) for weekly updates to the database.
(3) Four cents ($0.04) per page for images of filed records.
(h) The filing office may accept payment for fees by automated clearing house or by a nationally recognized debit or credit card. If payment is made by a credit or debit card, the filing office may add an amount equal to the amount of the service charge incurred for the acceptance of the payment. The filing office may enter into contracts for credit card processing services according to applicable county purchasing laws or may enter into agreements with the State Treasurer to participate in any credit card processing agreements entered into by the State Treasurer.
Added by Laws 2000, c. 371, § 103, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-526. Filing-office rules.

FILING-OFFICE RULES
(a) The county clerk of Oklahoma County shall adopt and publish rules to implement this article. The filing-office rules must be:
(1) consistent with this article; and
(2) adopted and published in accordance with Section 1-9-526.1 of this title.
(b) To keep the filing-office rules and practices of the filing office in harmony with the rules and practices of filing offices in other jurisdictions that enact substantially this part, and to keep the technology used by the filing office compatible with the technology used by filing offices in other jurisdictions that enact substantially this part, the county clerk of Oklahoma County, so far as is consistent with the purposes, policies, and provisions of this article, in adopting, amending, and repealing filing-office rules, shall:
(1) consult with filing offices in other jurisdictions that enact substantially this part;
(2) consult the most recent version of the Model Rules promulgated by the International Association of Corporate Administrators or any successor organization; and
(3) take into consideration the rules and practices of, and the technology used by, filing offices in other jurisdictions that enact substantially this part.
Added by Laws 2000, c. 371, § 105, eff. Jan. 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-527. Duty to report.

DUTY TO REPORT
The county clerk of Oklahoma County shall report annually on or before January 1 to the Governor and Legislature on the operation of the filing office. The report must contain a statement of the extent to which:
(1) the filing-office rules are not in harmony with the rules of filing offices in other jurisdictions that enact substantially this part and the reasons for these variations; and
(2) the filing-office rules are not in harmony with the most recent version of the Model Rules promulgated by the International Association of Corporate Administrators, or any successor organization, and the reasons for these variations.
Added by Laws 2000, c. 371, § 107, eff. Jan. 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-601. Rights after default - Judicial enforcement - Consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.

RIGHTS AFTER DEFAULT; JUDICIAL ENFORCEMENT;
CONSIGNOR OR BUYER OF ACCOUNTS, CHATTEL PAPER,
PAYMENT INTANGIBLES, OR PROMISSORY NOTES
(a) After default, a secured party has the rights provided in this part and, except as otherwise provided in Section 1-9-602 of this title, those provided by agreement of the parties. A secured party:
(1) may reduce a claim to judgment, foreclose, or otherwise enforce the claim, security interest, or agricultural lien by any available judicial procedure, but Section 686 of Title 12 of the Oklahoma Statutes, shall not apply to the enforcement of a claim, security interest, or agricultural lien under this article except as provided in Section 1-9-604 of this title where the procedure is in accordance with the rights of the parties with respect to real property; and
(2) if the collateral is documents, may proceed either as to the documents or as to the goods they cover.
(b) A secured party in possession of collateral or control of collateral under Section 7-106, 1-9-104, 1-9-105, 1-9-106, or 1-9-107 of this title has the rights and duties provided in Section 1-9-207 of this title.
(c) The rights under subsections (a) and (b) of this section are cumulative and may be exercised simultaneously.
(d) Except as otherwise provided in subsection (g) of this section and Section 1-9-605 of this title, after default, a debtor and an obligor have the rights provided in this part and by agreement of the parties.
(e) If a secured party has reduced its claim to judgment, the lien of any levy that may be made upon the collateral by virtue of an execution based upon the judgment relates back to the earliest of:
(1) the date of perfection of the security interest or agricultural lien in the collateral;
(2) the date of filing a financing statement covering the collateral; or
(3) any date specified in a statute under which the agricultural lien was created.
(f) A sale pursuant to an execution is a foreclosure of the security interest or agricultural lien by judicial procedure within the meaning of this section. A secured party may purchase at the sale and thereafter hold the collateral free of any other requirements of this article.
(g) Except as otherwise provided in subsection (c) of Section 1-9-607 of this title, this part imposes no duties upon a secured party that is a consignor or is a buyer of accounts, chattel paper, payment intangibles, or promissory notes.
Added by Laws 2000, c. 371, § 108, eff. July 1, 2001. Amended by Laws 2005, c. 140, § 70, eff. Jan. 1, 2006.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-602. Waiver and variance of rights and duties.

WAIVER AND VARIANCE OF RIGHTS AND DUTIES
Except as otherwise provided in Section 1-9-624 of this title, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the debtor or obligor may not waive or vary the rules stated in the following listed sections:
(1) Subparagraph (C) of paragraph (4) of subsection (b) of Section 1-9-207 of this title, which deals with use and operation of the collateral by the secured party;
(2) Section 1-9-210 of this title, which deals with requests for an accounting and requests concerning a list of collateral and statement of account;
(3) Subsection (c) of Section 1-9-607 of this title, which deals with collection and enforcement of collateral;
(4) Subsection (a) of Section 1-9-608 of this title and subsection (c) of Section 1-9-615 of this title to the extent that they deal with application or payment of noncash proceeds of collection, enforcement, or disposition;
(5) Subsection (a) of Section 1-9-608 of this title and subsection (d) of Section 1-9-615 of this title to the extent that they require accounting for or payment of surplus proceeds of collateral;
(6) Section 1-9-609 of this title to the extent that it imposes upon a secured party that takes possession of collateral without judicial process the duty to do so without breach of the peace;
(7) Subsection (b) of Section 1-9-610 of this title and Sections 1-9-611, 1-9-613, and 1-9-614 of this title, which deal with disposition of collateral;
(8) Subsection (f) of Section 1-9-615 of this title, which deals with calculation of a deficiency or surplus when a disposition is made to the secured party, a person related to the secured party, or a secondary obligor;
(9) Section 1-9-616 of this title, which deals with explanation of the calculation of a surplus or deficiency;
(10) Sections 1-9-620, 1-9-621, and 1-9-622 of this title, which deal with acceptance of collateral in satisfaction of obligation;
(11) Section 1-9-623 of this title, which deals with redemption of collateral;
(12) Section 1-9-624 of this title, which deals with permissible waivers; and
(13) Sections 1-9-625 and 1-9-626 of this title, which deal with the secured party’s liability for failure to comply with this article.
Added by Laws 2000, c. 371, § 109, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-603. Agreement on standards concerning rights and duties.

AGREEMENT ON STANDARDS CONCERNING RIGHTS AND DUTIES
(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured party under a rule stated in Section 1-9-602 of this title if the standards are not manifestly unreasonable.
(b) Subsection (a) of this section does not apply to the duty under Section 1-9-609 of this title to refrain from breaching the peace.
Added by Laws 2000, c. 371, § 110, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-604. Procedure if security agreement covers real property or fixtures.

PROCEDURE IF SECURITY AGREEMENT
COVERS REAL PROPERTY OR FIXTURES
(a) If a security agreement covers both personal and real property, a secured party may proceed:
(1) under this part as to the personal property without prejudicing any rights with respect to the real property; or
(2) as to both the personal property and the real property in accordance with the rights with respect to the real property, in which case the other provisions of this part do not apply.
(b) Subject to subsection (c) of this section, if a security agreement covers goods that are or become fixtures, a secured party may proceed:
(1) under this part; or
(2) in accordance with the rights with respect to real property, in which case the other provisions of this part do not apply.
(c) Subject to the other provisions of this part, if a secured party holding a security interest in fixtures has priority over all owners and encumbrances of the real property, the secured party, after default, may remove the collateral from the real property.
(d) A secured party that removes collateral shall promptly reimburse any encumbrancer or owner of the real property, other than the debtor, for the cost of repair of any physical injury caused by the removal. The secured party need not reimburse the encumbrancer or owner for any diminution in value of the real property caused by the absence of the goods removed or by any necessity of replacing them. 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, § 111, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-605. Unknown debtor or secondary obligor.

UNKNOWN DEBTOR OR SECONDARY OBLIGOR
A secured party does not owe a duty based on 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.
Added by Laws 2000, c. 371, § 112, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-606. Time of default for agricultural lien.

TIME OF DEFAULT FOR AGRICULTURAL LIEN
For purposes of this part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created.
Added by Laws 2000, c. 371, § 113, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-607. Collection and enforcement by secured party.

COLLECTION AND ENFORCEMENT BY SECURED PARTY
(a) If so agreed, and in any event after default, a secured party:
(1) may notify an account debtor or other person obligated on collateral to make payment or otherwise render performance to or for the benefit of the secured party;
(2) may take any proceeds to which the secured party is entitled under Section 1-9-315 of this title;
(3) may enforce the obligations of an account debtor or other person obligated on collateral and exercise the rights of the debtor with respect to the obligation of the account debtor or other person obligated on collateral to make payment or otherwise render performance to the debtor, and with respect to any property that secures the obligations of the account debtor or other person obligated on the collateral;
(4) if it holds a security interest in a deposit account perfected by control under paragraph (1) of subsection (a) of Section 1-9-104 of this title, may apply the balance of the deposit account to the obligation secured by the deposit account; and
(5) if it holds a security interest in a deposit account perfected by control under paragraph (2) or (3) of subsection (a) Section 1-9-104 of this title, may instruct the bank to pay the balance of the deposit account to or for the benefit of the secured party.
(b) If necessary to enable a secured party to exercise under paragraph (3) of subsection (a) of this section the right of a debtor to enforce a mortgage nonjudicially, the secured party may record in the office in which a record of the mortgage is recorded:
(1) a copy of the security agreement that creates or provides for a security interest in the obligation secured by the mortgage; and
(2) the secured party's sworn affidavit in recordable form stating that:
(A)
a default has occurred with respect to the obligation secured by the mortgage; and
(B)
the secured party is entitled to enforce the mortgage nonjudicially.
(c) A secured party shall proceed in a commercially reasonable manner if the secured party:
(1) undertakes to collect from or enforce an obligation of an account debtor or other person obligated on collateral; and
(2) is entitled to charge back uncollected collateral or otherwise to full or limited recourse against the debtor or a secondary obligor.
(d) A secured party may deduct from the collections made pursuant to subsection (c) of this section reasonable expenses of collection and enforcement, including reasonable attorney fees and legal expenses incurred by the secured party.
(e) This section does not determine whether an account debtor, bank, or other person obligated on collateral owes a duty to a secured party.
Added by Laws 2000, c. 371, § 114, eff. July 1, 2001. Amended by Laws 2015, c. 374, § 16, eff. Nov. 1, 2015.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-608. Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.

APPLICATION OF PROCEEDS OF COLLECTION OR ENFORCEMENT;
LIABILITY FOR DEFICIENCY AND RIGHT TO SURPLUS
(a) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply:
(1) A secured party shall apply or pay over for application the cash proceeds of collection or enforcement under this section in the following order to:
(A)
the reasonable expenses of collection and enforcement and, to the extent provided for by agreement and not prohibited by law, reasonable attorney’s fees and legal expenses incurred by the secured party;
(B)
the satisfaction of obligations secured by the security interest or agricultural lien under which the collection or enforcement is made; and
(C)
the satisfaction of obligations secured by any subordinate security interest in or other lien on the collateral subject to the security interest or agricultural lien under which the collection or enforcement is made if the secured party receives an authenticated demand for proceeds before distribution of the proceeds is completed.
(2) If requested by a secured party, a holder of a subordinate security interest or other lien shall furnish reasonable proof of the interest or lien within a reasonable time. Unless the holder complies, the secured party need not comply with the holder’s demand under subparagraph (C) of paragraph (1) of this subsection.
(3) A secured party need not apply or pay over for application noncash proceeds of collection and enforcement under this section unless the failure to do so would be commercially unreasonable. A secured party that applies or pays over for application noncash proceeds shall do so in a commercially reasonable manner.
(4) A secured party shall account to and pay a debtor for any surplus, and the obligor is liable for any deficiency.
(b) If the underlying transaction is a sale of accounts, chattel paper, payment intangibles, or promissory notes, the debtor is not entitled to any surplus, and the obligor is not liable for any deficiency.
Added by Laws 2000, c. 371, § 115, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-609. Secured party’s right to take possession after default.

SECURED PARTY’S RIGHT TO TAKE POSSESSION AFTER DEFAULT
(a) After default, a secured party:
(1) may take possession of the collateral; and
(2) without removal, may render equipment unusable and dispose of collateral on a debtor’s premises under Section 1-9-610 of this title.
(b) A secured party may proceed under subsection (a) of this section:
(1) pursuant to judicial process; or
(2) without judicial process, if it proceeds without breach of the peace.
(c) If so agreed, and in any event after default, a secured party may require the debtor to assemble the collateral and make it available to the secured party at a place to be designated by the secured party which is reasonably convenient to both parties.
Added by Laws 2000, c. 371, § 116, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-1-9-610. Disposition of collateral after default.

DISPOSITION OF COLLATERAL AFTER DEFAULT
(a) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or following any commercially reasonable preparation or processing.
(b) Every aspect of a disposition of collateral, including the method, manner, time, place, and other terms, must be commercially reasonable. If commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at any time and place and on any terms.
(c) A secured party may purchase collateral:
(1) at a public disposition; or
(2) at a private disposition only if the collateral is of a kind that is customarily sold on a recognized market or the subject of widely distributed standard price quotations.
(d) A contract for sale, lease, license, or other disposition includes the warranties relating to title, possession, quiet enjoyment, and the like which by operation of law accompany a voluntary disposition of property of the kind subject to the contract.
(e) A secured party may disclaim or modify warranties under subsection (d) of this section:
(1) in a manner that would be effective to disclaim or modify the warranties in a voluntary disposition of property of the kind subject to the contract of disposition; or
(2) by communicating to the purchaser a record evidencing the contract for disposition and including an express disclaimer or modification of the warranties.
(f) A record is sufficient to disclaim warranties under subsection (e) of this section if it indicates “There is no warranty relating to title, possession, quiet enjoyment, or the like in this disposition” or uses words of similar import.
Added by Laws 2000, c. 371, § 117, eff. July 1, 2001.