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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 12A, § 12A-1-9-321: Licensee of general intangible and lessee of goods in

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  1. OK Code
  2. Title 12A

ordinary course of business.

LICENSEE OF GENERAL INTANGIBLE AND LESSEE

OF GOODS IN ORDINARY COURSE OF BUSINESS

(a) In this section, “licensee in ordinary course of business”

means a person that becomes a licensee of a general intangible in

good faith, without knowledge that the license violates the rights

of another person in the general intangible, and in the ordinary

course from a person in the business of licensing general

intangibles of that kind. A person becomes a licensee in the

ordinary course if the license to the person comports with the usual

or customary practices in the kind of business in which the licensor

is engaged or with the licensor’s own usual or customary practices.

(b) A licensee in ordinary course of business takes its rights

under a nonexclusive license free of a security interest in the

general intangible created by the licensor, even if the security

interest is perfected and the licensee knows of its existence.

(c) A lessee in ordinary course of business takes its leasehold

interest free of a security interest in the goods created by the

lessor, even if the security interest is perfected and the lessee

knows of its existence.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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