§ 1-9-334. Priority of security interests in fixtures and crops
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 1-9-334
§ 1-9-334. Priority of security interests in fixtures and crops
Priority of security interests in fixtures and crops
(h) A mortgage is a construction mortgage to the extent that it secures an obligation incurred for the construction of an improvement on land, including the acquisition cost of the land, if a recorded record of the mortgage so indicates. Except as otherwise provided in subsections (e) and (f) of this section, a security interest in fixtures is subordinate to a construction mortgage if a record of the mortgage is recorded before the goods become fixtures and the goods become fixtures before the completion of the construction. A mortgage has this priority to the same extent as a construction mortgage to the extent that it is given to refinance a construction mortgage.
Credits
Laws 2000, c. 371, § 61, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-334, OK ST T. 12A § 1-9-334
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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