Oklahoma Statutes
§ 12A-1-9-617 — Rights of transferee of collateral.
Oklahoma·Title 12A Uniform Commercial Code
RIGHTS OF TRANSFEREE OF COLLATERAL (a) A secured party’s disposition of collateral after default:
(1)transfers to a transferee for value all of the debtor’s rights in the collateral;
(2)discharges the security interest under which the disposition is made; and (3) discharges any subordinate security interest or other subordinate lien.
(b)A transferee that acts in good faith takes free of the rights and interests described in subsection (a) of this section, even if the secured party fails to comply with this article or the requirements of any judicial proceeding.
(c)If a transferee does not take free of the rights and interests described in subsection (a) of this section, the transferee takes the collateral subject to:
(1)the debtor’s rights in the collateral;
(2)the security interest
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Oklahoma § 12A-1-9-617 (Rights of transferee of collateral.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Laws 2000, c. 371, § 124, eff. July 1, 2001.
Nearby Sections
15
§ 12A-1-101
Short titles.§ 12A-1-102
Scope of article.§ 12A-1-104
Construction against implicit repeal.§ 12A-1-106
Use of singular and plural - Gender.§ 12A-1-107
Section captions.§ 12A-1-108
Repealed§ 12A-1-108.1
Relationship to Electronic Signatures in Global and§ 12A-1-202
Notice - Knowledge.§ 12A-1-203
Lease distinguished from security interest.§ 12A-1-204
"Value".§ 12A-1-205
Reasonable time - Seasonableness.§ 12A-1-206
Presumptions.