§ 1-9-328. Priority of security interests in investment property
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 1-9-328
§ 1-9-328. Priority of security interests in investment property
Priority of security interests in investment property
The following rules govern priority among conflicting security interests in the same investment property:
(i) if the secured party obtained control under paragraph (1) of subsection (d) of Section 8-106 of this title, the secured party's becoming the person for which the securities account is maintained;
(ii) if the secured party obtained control under paragraph (2) of subsection (d) of Section 8-106 of this title, the securities intermediary's agreement to comply with the secured party's entitlement orders with respect to security entitlements carried or to be carried in the securities account; or
(iii) if the secured party obtained control through another person under paragraph (3) of subsection (d) of Section 8-106 of this title, the time on which priority would be based under this paragraph if the other person were the secured party; or
(C) if the collateral is a commodity contract carried with a commodity intermediary, the satisfaction of the requirement for control specified in paragraph (2) of subsection (b) of Section 1-9-106 of this title with respect to commodity contracts carried or to be carried with the commodity intermediary.
(5) A security interest in a certificated security in registered form which is perfected by taking delivery under subsection (a) of Section 1-9-313 of this title and not by control under Section 1-9-314 of this title has priority over a conflicting security interest perfected by a method other than control.
Credits
Laws 2000, c. 371, § 55, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-328, OK ST T. 12A § 1-9-328
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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