Oklahoma § 12A-1-9-201 General effectiveness of security agreement.

Oklahoma Statutes

§ 12A-1-9-201 — General effectiveness of security agreement.

Oklahoma·Title 12A Uniform Commercial Code

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

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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.

Oklahoma § 12A-1-9-201 (General effectiveness of security agreement.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.