{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-315","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-315","heading":"Secured party’s rights on disposition of collateral","body":"and in proceeds.\n\nSECURED PARTY’S RIGHTS ON DISPOSITION\n\nOF COLLATERAL AND IN PROCEEDS\n\n(a) Except as otherwise provided in this article and in\n\nparagraph (2) of Section 2-403 of this title:\n\n(1) a security interest or agricultural lien continues in\n\ncollateral notwithstanding sale, lease, license, exchange, or other\n\ndisposition thereof unless the secured party authorized the\n\ndisposition free of the security interest or agricultural lien; and\n\n(2) a security interest attaches to any identifiable proceeds\n\nof collateral.\n\n(b) Proceeds that are commingled with other property are\n\nidentifiable proceeds:\n\n(1) if the proceeds are goods, to the extent provided by\n\nSection 1-9-336 of this title; and\n\n(2) if the proceeds are not goods, to the extent that the\n\nsecured party identifies the proceeds by a method of tracing,\n\nincluding application of equitable principles, that is permitted\n\nunder law other than this article with respect to commingled\n\nproperty of the type involved.\n\n(c) A security interest in proceeds is a perfected security\n\ninterest if the security interest in the original collateral was\n\nperfected.\n\n(d) A perfected security interest in proceeds becomes\n\nunperfected on the twenty-first day after the security interest\n\nattaches to the proceeds unless:\n\n(1) the following conditions are satisfied:\n\n(A) a filed financing statement covers the original\n\ncollateral;\n\n(B) the proceeds are collateral in which a security\n\ninterest may be perfected by filing in the office in\n\nwhich the financing statement has been filed; and\n\n(C) the proceeds are not acquired with cash proceeds;\n\n(2) the proceeds are identifiable cash proceeds; or\n\n(3) the security interest in the proceeds is perfected other\n\nthan under subsection (c) of this section when the security interest\n\nattaches to the proceeds or within twenty (20) days thereafter.\n\n(e) If a filed financing statement covers the original\n\ncollateral, a security interest in proceeds which remains perfected\n\nunder paragraph (1) of subsection (d) of this section becomes\n\nunperfected at the later of:\n\n(1) when the effectiveness of the filed financing statement\n\nlapses under Section 1-9-515 of this title or is terminated under\n\nSection 1-9-513 of this title; or\n\n(2) the twenty-first day after the security interest attaches\n\nto the proceeds.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5800cda536bf462c3d96bd067da1ebc566d4da1db76740ac183e9ba9721b27c5","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-314a","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-316"},"notice":"GroundRules: Original legal text. Not legal advice."}