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§ 1-9-320.6. Central filing system relating to farm products

Oklahoma Statutes AnnotatedTitle 12A. Commercial CodeEffective: November 1, 2022

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 9. Secured Transactions (Refs & Annos)
Part 3. Perfection and Priority (Refs & Annos)
Effective: November 1, 2022
12A Okl.St.Ann. § 1-9-320.6
§ 1-9-320.6. Central filing system relating to farm products
CENTRAL FILING SYSTEM RELATING TO FARM PRODUCTS
(1) The Secretary of State shall be responsible for developing and implementing the central filing system. This responsibility shall include obtaining the necessary certification for the system from the United States Department of Agriculture (“USDA”). The effective date for the implementation of the central filing system was October 24, 1988.
(2) The Secretary of State may promulgate, in accordance with the applicable provisions of the Administrative Procedures Act,1 appropriate rules for the implementation and operation of the central filing system.
(3) The Office of Management and Enterprise Services shall assist the Secretary of State in developing and implementing the central filing system.
(4) The central filing system shall conform to the following requirements:
(a) The Secretary of State shall record the date and hour of the filing of each effective financing statement;
(b) The Secretary of State shall compile all effective financing statements into a master list:
(i) organized according to farm products;
(ii) arranged within each such product:
(A) in alphabetical order according to the last name of the individual debtors or, in the case of debtors doing business other than as individuals, the first word in the name of the debtors;
(B) in numerical order according to the Social Security number of the individual debtors or, in the case of debtors doing business other than as individuals, the Internal Revenue Service taxpayer identification number of the debtors;
(C) geographically by county produced; and
(D) by crop year; and
(iii) containing the information provided for in subparagraph (iv) of paragraph (d) of Section 1-9-320.2 of this title;
(iv) portions of the master list shall be available in hard copy, electronic formats, or via Internet download, and may be organized by other sorting methods in addition to the methods listed above.
(c) The Secretary of State shall maintain records of all buyers of farm products, commission merchants, selling agents and others who register with the Secretary of State, on a form containing:
(i) the name and address of each registrant;
(ii) the information on the farm product or products that the registrant is requesting;
(iii) the name of each county where the product is produced or to be produced, or a blanket code covering all seventy-seven (77) counties of this state; and
(iv) an authorized signature.
(d) (i) A copy of those portions of the master list covering the information requested by a registrant shall be distributed to such registrants by the Secretary of State on or before the last business day of each month and shall be presumed to have been received by the third business day of the following month.
(ii) Registrants shall be deemed to be registered only as to those portions of the master list for which they register, and shall be deemed to have failed to register and shall not be considered to be registrants as to those portions for which they do not register.
(iii) Registrants are subject only to security interests shown on the portions of the master list which they receive as a consequence of registration with the Secretary of State.
(iv) If a particular security interest is shown on the master list, but was included since the last regular distribution of portions of the master list to registrants, registrants shall not be subject to that security interest;
(e) The duration of the registration with the Secretary of State of a buyer of farm products, commission merchant, selling agent or other registrant shall be one (1) year from the effective date of the registration with the Secretary of State.
(f) (i) Upon request, within twenty-four (24) hours of any inquiry, for information, the Secretary of State shall provide verbal confirmation of the existence or nonexistence of any effective financing statement on file. By the close of the business day following the day on which the request was received, written confirmation of the existence of an effective financing statement will be provided to buyers of farm products, commission merchants, and selling agents who have not registered, and others who request it.
(ii) The state or political subdivision shall not be liable if a loss or claim results from any confirmation of the existence or nonexistence of any effective financing statement on file in the Office of the Secretary of State made in good faith by an employee of the Office of the Secretary of State as required by the provisions of this section.
(5) The filing in the office of the Secretary of State under this section shall be in addition to the filing requirements provided for in this article.
(6) A financing or continuation statement covering farm products that has not lapsed and which was filed pursuant to this title between December 23, 1986, and October 24, 1988, inclusive, and for which no written notice was furnished as provided in Section 1-9-320.7 of this title, shall become ineffective as to a buyer of farm products, commission merchant or selling agent, unless the secured party files an effective financing statement in the office of the Secretary of State.
(7) An effective financing statement shall not be deemed filed in accordance with the provisions of this section until all fees authorized by Section 111 of Title 28 of the Oklahoma Statutes relating to the filing of the statement are tendered to the Secretary of State.
(8) The secured party shall file a termination statement within twenty (20) days after there is no outstanding secured obligation or commitment to make advances, incur obligations or otherwise give value. The secured party shall not be required to file a termination statement if the debtor, in writing, addressed to the secured party, requests that a termination not be filed. The request shall be signed by the debtor or an authorized representative and the request may be made at any time prior to the expiration date of an effective financing statement set forth herein. If the affected secured party fails to file a termination statement as required by this subsection, the party shall be liable to the Secretary of State for Five Hundred Dollars ($500.00). In addition the affected secured party shall be liable to the debtor for any loss caused to the debtor by the failure to terminate the effective financing statement.
(9) The Attorney General shall be responsible for enforcing the provisions of subsection (8) of this section on behalf of the Secretary of State and is authorized to take appropriate actions to collect any penalties owed to the Secretary of State pursuant to subsection (8) of this section. When collected, the Attorney General shall cause the penalty to be deposited into the Central Filing System Revolving Fund created pursuant to Section 276.3 of Title 62 of the Oklahoma Statutes.

Credits

Laws 1987, c. 69, § 6; Laws 1991, c. 314, § 1, eff. Sept. 1, 1991. Renumbered from Title 12A, § 9-307.6 and amended by Laws 2000, c. 371, §§ 46, 183, eff. July 1, 2001. Laws 2001, c. 406, § 2, emerg. eff. June 4, 2001; Laws 2012, c. 304, § 53; Laws 2022, c. 109, § 1, eff. Nov. 1, 2022.

Footnotes

Title 75, § 250 et seq.
12A Okl. St. Ann. § 1-9-320.6, OK ST T. 12A § 1-9-320.6
Current with emergency effective legislation through Chapter 449 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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