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§ 1-9-201. General effectiveness of security agreement

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 9. Secured Transactions (Refs & Annos)
Part 2. Effectiveness of Security Agreement; Attachment of Security Interest; Rights of Parties to Security Agreement (Refs & Annos)
12A Okl.St.Ann. § 1-9-201
§ 1-9-201. General effectiveness of security agreement
Currentness
General effectiveness of security agreement
(a) Except as otherwise provided in this title, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.
(b) A transaction subject to this article is subject to any applicable rule of law which establishes a different rule for consumers, and any other statute or regulation that regulates the rates, charges, agreements and practices for loans, credit sales or other extensions of credit.
(c) In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b) of this section, the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) of this section has only the effect the statute or regulation specifies.
(d) This article does not:
(1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b) of this section; or
(2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.

Credits

Laws 2000, c. 371, § 11, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-201, OK ST T. 12A § 1-9-201
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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