§ 859.1. Moveable machinery loans--Limitations
Oklahoma Statutes AnnotatedTitle 74. State Government
74 Okl.St.Ann. § 859.1
§ 859.1. Moveable machinery loans--Limitations
The Oklahoma Industrial Finance Authority may loan money for the purchase of moveable machinery subject to the following limitations:
3. Within twenty-four (24) hours after loaning the money to an industrial development agency to purchase any moveable machinery, the Authority shall perfect a security interest in such machinery pursuant to perfection procedures prescribed by Article 9 of Title 12A of the Oklahoma Statutes;1
4. Any industrial development agency which receives money for the purchase of a moveable machine shall agree to such procedures as the Authority deems necessary to preserve its interest in such moveable machinery. These procedures may include notification to the Authority of the exact location of such moveable machinery and notification of any changes in location of such moveable machinery;
Credits
Laws 1987, c. 9, § 5, emerg. eff. March 31, 1987; Laws 1988, c. 88, § 5, emerg. eff. March 30, 1988; Laws 2000, c. 371, § 182, eff. July 1, 2001.
Footnotes
Title 12A, § 1-9-101 et seq.
74 Okl. St. Ann. § 859.1, OK ST T. 74 § 859.1
Current with emergency effective legislation through Chapter 90 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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