Okla. Stat. tit. 12A, § 12A-1-9-805: Effectiveness of action taken before effective date

EFFECTIVENESS OF ACTION TAKEN

BEFORE EFFECTIVE DATE

(a) The filing of a financing statement before this act takes

effect is effective to perfect a security interest to the extent the

filing would satisfy the applicable requirements for perfection

under Article 9 of the Uniform Commercial Code as amended by this

act.

(b) This act does not render ineffective an effective financing

statement that, before this act takes effect, is filed and satisfies

the applicable requirements for perfection under the law of the

jurisdiction governing perfection as provided in Article 9 of the

Uniform Commercial Code as it existed before amendment. However,

except as otherwise provided in subsections (c) and (d) of this

section and Section 22 of this act, the financing statement ceases

to be effective:

(1) if the financing statement is filed in this state, at the

time the financing statement would have ceased to be effective had

this act not taken effect; or

(2) if the financing statement is filed in another

jurisdiction, at the earlier of:

(A) the time the financing statement would have ceased to

be effective under the law of that jurisdiction; or

(B) June 30, 2018.

(c) The filing of a continuation statement after this act takes

effect does not continue the effectiveness of the financing

statement filed before this act takes effect. However, upon the

timely filing of a continuation statement after this act takes

effect on November 1, 2015, and in accordance with the law of the

jurisdiction governing perfection as provided in Article 9 of the

Uniform Commercial Code as amended by this act, the effectiveness of

a financing statement filed in the same office in that jurisdiction

before this act takes effect continues for the period provided by

the law of that jurisdiction.

(d) Subparagraph (B) of paragraph (2) of subsection (b) of this

section applies to a financing statement that, before this act takes

effect, is filed against a transmitting utility and satisfies the

applicable requirements for perfection under the law of the

jurisdiction governing perfection as provided in Article 9 of the

Uniform Commercial Code as it existed before amendment only to the

extent Article 9 of the Uniform Commercial Code as amended by this

act provides that the law of a jurisdiction other than the

jurisdiction in which the financing statement is filed governs

perfection of a security interest in collateral covered by the

financing statement.

(e) A financing statement that includes a financing statement

filed before this act takes effect and a continuation statement

filed after this act takes effect is effective only to the extent

that it satisfies the requirements of Part 5 of Article 9 of the

Uniform Commercial Code as amended by this act for an initial

financing statement. A financing statement that indicates that the

debtor is a decedent's estate indicates that the collateral is being

administered by a personal representative within the meaning of

paragraph (2) of subsection (a) of Section 1-9-503 of Title 12A of

the Oklahoma Statutes as amended by this act. A financing statement

that indicates that the debtor is a trust or is a trustee acting

with respect to property held in trust indicates that the collateral

is held in a trust within the meaning of paragraph (3) of subsection

(a) of Section 1-9-503 of Title 12A of the Oklahoma Statutes as

amended by this act.