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§ 1-9-318. Rights and title of seller of account or chattel paper with respect to creditors and...

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 9. Secured Transactions (Refs & Annos)
Part 3. Perfection and Priority (Refs & Annos)
12A Okl.St.Ann. § 1-9-318
§ 1-9-318. Rights and title of seller of account or chattel paper with respect to creditors and purchasers
Rights and title of seller of account or chattel paper with respect to creditors and purchasers
(a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the collateral sold.
(b) For purposes of determining the rights of creditors of, and purchasers for value of an account or chattel paper from, a debtor that has sold an account or chattel paper, while the buyer's security interest is unperfected, the debtor is deemed to have rights and title to the account or chattel paper identical to those the debtor sold.

Credits

Laws 2000, c. 371, § 38, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-318, OK ST T. 12A § 1-9-318
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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