Okla. Stat. tit. 12A, § 12A-1-9-330: Priority of purchaser of chattel paper or instrument

PRIORITY OF PURCHASER OF CHATTEL PAPER OR INSTRUMENT

(a) A purchaser of chattel paper has priority over a security

interest in the chattel paper which is claimed merely as proceeds of

inventory subject to a security interest if:

(1) in good faith and in the ordinary course of the purchaser's

business, the purchaser gives new value, takes possession of each

authoritative tangible copy of the record evidencing the chattel

paper, and obtains control under Section 1-9-105 of this title of

each authoritative electronic copy of the record evidencing the

chattel paper; and

(2) the authoritative copies of the record evidencing the

chattel paper do not indicate that the chattel paper has been

assigned to an identified assignee other than the purchaser.

(b) A purchaser of chattel paper has priority over a security

interest in the chattel paper which is claimed other than merely as

proceeds of inventory subject to a security interest if the

purchaser gives new value, takes possession of each authoritative

tangible copy of the record evidencing the chattel paper, and

obtains control under Section 1-9-105 of this title of each

authoritative electronic copy of the record evidencing the chattel

paper in good faith, in the ordinary course of the purchaser's

business, and without knowledge that the purchase violates the

rights of the secured party.

(c) Except as otherwise provided in Section 1-9-327 of this

title, a purchaser having priority in chattel paper under subsection

(a) or (b) of this section also has priority in proceeds of the

chattel paper to the extent that:

(1) Section 1-9-322 of this title provides for priority in the

proceeds; or

(2) the proceeds consist of the specific goods covered by the

chattel paper or cash proceeds of the specific goods, even if the

purchaser's security interest in the proceeds is unperfected.

(d) Except as otherwise provided in subsection (a) of Section

1-9-331 of this title, a purchaser of an instrument has priority

over a security interest in the instrument perfected by a method

other than possession if the purchaser gives value and takes

possession of the instrument in good faith and without knowledge

that the purchase violates the rights of the secured party.

(e) For purposes of subsections (a) and (b) of this section,

the holder of a purchase-money security interest in inventory gives

new value for chattel paper constituting proceeds of the inventory.

(f) For purposes of subsections (b) and (d) of this section, if

the authoritative copies of the record evidencing chattel paper or

an instrument indicate that the chattel paper or instrument has been

assigned to an identified secured party other than the purchaser, a

purchaser of the chattel paper or instrument has knowledge that the

purchase violates the rights of the secured party.