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§ 1-9-325. Priority of security interests in transferred collateral

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. § 1-9-325
§ 1-9-325. Priority of security interests in transferred collateral
Priority of security interests in transferred collateral
(a) Except as otherwise provided in subsection (b) of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if:
(1) the debtor acquired the collateral subject to the security interest created by the other person;
(2) the security interest created by the other person was perfected when the debtor acquired the collateral; and
(3) there is no period thereafter when the security interest is unperfected.
(b) Subsection (a) of this section subordinates a security interest only if the security interest:
(1) otherwise would have priority solely under subsection (a) of Section 1-9-322 or Section 1-9-324 of this title; or
(2) arose solely under paragraph (3) of Section 2-711 or paragraph (5) of Section 2A-508 of this title.

Credits

Laws 2000, c. 371, § 52, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-325, OK ST T. 12A § 1-9-325
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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