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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 12A. UNIFORM COMMERCIAL CODE

  § 12A-1-9-507. Effect of certain events on effectiveness of financing statement.  

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  • EFFECT OF CERTAIN EVENTS ON

    EFFECTIVENESS OF FINANCING STATEMENT

    (a)  A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and in which a security interest or agricultural lien continues, even if the secured party knows of or consents to the disposition.

    (b)  Except as otherwise provided in subsection (c) of this section and Section 1-9-508 of this title, a financing statement is not rendered ineffective if, after the financing statement is filed, the information provided in the financing statement becomes seriously misleading under Section 1-9-506 of this title.

    (c)  If a debtor so changes its name that a filed financing statement becomes seriously misleading under Section 1-9-506 of this title:

    (1)  the financing statement is effective to perfect a security interest in collateral acquired by the debtor before, or within four (4) months after, the change; and

    (2)  the financing statement is not effective to perfect a security interest in collateral acquired by the debtor more than four (4) months after the change, unless an amendment to the financing statement which renders the financing statement not seriously misleading is filed within four (4) months after the change.

Added by Laws 2000, c. 371, § 85, eff. July 1, 2001.