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§ 1-9-706. When initial financing statement suffices to continue effectiveness of financing sta...

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 9. Secured Transactions (Refs & Annos)
Part 7. Transition
12A Okl.St.Ann. § 1-9-706
§ 1-9-706. When initial financing statement suffices to continue effectiveness of financing statement
Currentness
When initial financing statement suffices to continue effectiveness 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 act1 takes effect2 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 article3 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.

Credits

Laws 2000, c. 371, § 140, eff. July 1, 2001.

Footnotes

1
Title 12A, § 1-9-101 et seq.
2
O.S.L.2000, c. 371, effective July 1, 2001.
3
Title 12A, § 1-9-501 et seq.
12A Okl. St. Ann. § 1-9-706, OK ST T. 12A § 1-9-706
Current with legislation of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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