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§ 7-602. Judicial Process Against Goods Covered by Negotiable Document of Title

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 7. Warehouse Receipts, Bills of Lading and Other Documents of Title (Refs & Annos)
Part 6. Warehouse Receipts and Bills of Lading: Miscellaneous Provisions
12A Okl.St.Ann. § 7-602
§ 7-602. Judicial Process Against Goods Covered by Negotiable Document of Title
Judicial Process Against Goods Covered by Negotiable Document of Title.
Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does not attach by virtue of any judicial process to goods in the possession of a bailee for which a negotiable document of title is outstanding unless possession or control of the document is first surrendered to the bailee or the document's negotiation enjoined. The bailee may not be compelled to deliver the goods pursuant to process until possession or control of the document is surrendered to the bailee or to the court. A purchaser of the document for value without notice of the process or injunction takes free of the lien imposed by judicial process.

Credits

Laws 1961, p. 151, § 7-602; Laws 2005, c. 140, § 38, eff. Jan. 1, 2006.
12A Okl. St. Ann. § 7-602, OK ST T. 12A § 7-602
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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