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§12A-1-9-325. Priority of security interests in transferred collateral.

12A OK Stat § 12A-1-9-325 (2019) (N/A)
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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.

Added by Laws 2000, c. 371, § 52, eff. July 1, 2001.

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