§ 1-9-102. Definitions and index of definitions
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 1-9-102
§ 1-9-102. Definitions and index of definitions
DEFINITIONS AND INDEX OF DEFINITIONS
(10) “Certificate of title” means a certificate of title with respect to which a statute provides for the security interest in question to be indicated on the certificate as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. The term includes another record maintained as an alternative to a certificate of title by the governmental unit that issues certificates of title if a statute permits the security interest in question to be indicated on the record as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral.
(11) “Chattel paper” means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods. In this paragraph, “monetary obligation” means a monetary obligation secured by the goods or owed under a lease of goods and includes a monetary obligation with respect to software used in the goods. The term does not include charters or other contracts involving the use or hire of a vessel. If a transaction is evidenced by records that include an instrument or series of instruments, the group of records taken together constitutes chattel paper.
(26) “Consumer transaction” means a transaction in which (i) an individual incurs an obligation primarily for personal, family, or household purposes, (ii) a security interest secures the obligation, and (iii) the collateral is held or acquired primarily for personal, family, or household purposes. The term includes consumer-goods transactions.
(40) “Fixture filing” means the filing of a financing statement covering goods that are or are to become fixtures and satisfying subsections (a) and (b) of Section 1-9-502 of this title. The term includes the filing of a financing statement covering goods of a transmitting utility which are or are to become fixtures.
(42) “General intangible” means any personal property, including things in action, other than accounts, chattel paper, commercial tort claims, deposit accounts, documents, goods, instruments, investment property, letter-of-credit rights, letters of credit, money, and oil, gas, or other minerals before extraction. The term includes payment intangibles and software.
(45) “Governmental unit” means a subdivision, agency, department, county, parish, municipality, or other unit of the government of the United States, a state, or a foreign country. The term includes an organization having a separate corporate existence if the organization is eligible to issue debt on which interest is exempt from income taxation under the laws of the United States.
(47) (A) “Instrument” means a negotiable instrument or any other writing that evidences a right to the payment of a monetary obligation, is not itself a security agreement or lease, and is of a type that in ordinary course of business is transferred by delivery with any necessary endorsement or assignment.
(ii) a writing that contains both an acknowledgment by a bank as defined in paragraph (8) of this subsection that a sum of money has been received by the bank and its promise to repay the sum of money, which is considered a certificate of deposit by the bank issuing it, even if the writing provides that it is nontransferable or uses similar language.
(51) “Letter-of-credit right” means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance. The term does not include the right of a beneficiary to demand payment or performance under a letter of credit.
(B) The term includes any structure that meets all of the requirements of this paragraph except the size requirements and with respect to which the manufacturer voluntarily files a certification required by the United States Secretary of Housing and Urban Development and complies with the standards established under Title 42 of the United States Code.
(C) a record consisting of legislation enacted by the Legislature of a state or the Congress of the United States which forms or organizes an organization, any record amending the legislation, and any record filed with or issued by the state or United States which amends or restates the name of the organization.
(69) “Pursuant to commitment”, with respect to an advance made or other value given by a secured party, means pursuant to the secured party's obligation, whether or not a subsequent event of default or other event not within the secured party's control has relieved or may relieve the secured party from its obligation.
(71) “Registered organization” means an organization formed or organized solely under the law of a single state or the United States by the filing of a public organic record with, the issuance of a public organic record by, or the enactment of legislation by the state or United States. The term includes a business trust that is formed or organized under the law of a single state if a statute of the state governing business trusts requires that the business trusts' organic record be filed with the state.
“Applicant”--Section 5-102 of this title.
“Beneficiary”--Section 5-102 of this title.
“Broker”--Section 8-102 of this title.
“Certificated security”--Section 8-102 of this title.
“Check”--Section 3-104 of this title.
“Clearing corporation”--Section 8-102 of this title.
“Contract for sale”--Section 2-106 of this title.
“Customer”--Section 4-104 of this title.
“Entitlement holder”--Section 8-102 of this title.
“Financial asset”--Section 8-102 of this title.
“Holder in due course”--Section 3-302 of this title.
“Issuer” (with respect to a letter of credit or letter-of-credit right)--Section 5-102 of this title.
“Issuer”--(with respect to a security)--Section 8-201 of this title.
“Issuer”--(with respect to documents of title)--Section 7-102 of this title.
“Lease”--Section 2A-103 of this title.
“Lease agreement”--Section 2A-103 of this title.
“Lease contract”--Section 2A-103 of this title.
“Leasehold interest”--Section 2A-103 of this title.
“Lessee”--Section 2A-103 of this title.
“Lessee in ordinary course of business”--Section 2A-103 of this title.
“Lessor”--Section 2A-103 of this title.
“Lessor's residual interest”--Section 2A-103 of this title.
“Letter of credit”--Section 5-102 of this title.
“Merchant”--Section 2-104 of this title.
“Negotiable instrument”--Section 3-104 of this title.
“Nominated person”--Section 5-102 of this title.
“Note”--Section 3-104 of this title.
“Proceeds of a letter of credit”--Section 5-114 of this title.
“Prove”--Section 3-103 of this title.
“Sale”--Section 2-106 of this title.
“Securities account”--Section 8-501 of this title.
“Securities intermediary”--Section 8-102 of this title.
“Security”--Section 8-102 of this title.
“Security certificate”--Section 8-102 of this title.
“Security entitlement”--Section 8-102 of this title.
“Uncertificated security”--Section 8-102 of this title.
Credits
Laws 2000, c. 371, § 2, eff. July 1, 2001; Laws 2004, c. 153, § 1, eff. Nov. 1, 2004; Laws 2005, c. 140, § 59, eff. Jan. 1, 2006; Laws 2015, c. 374, § 1, eff. Nov. 1, 2015.
12A Okl. St. Ann. § 1-9-102, OK ST T. 12A § 1-9-102
Current with emergency effective legislation through Chapter 277 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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