{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-316","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-316","heading":"Effect of change in governing law","body":"EFFECT OF CHANGE IN GOVERNING LAW\n\n(a) A security interest perfected pursuant to the law of the\n\njurisdiction designated in paragraph (1) of Section 1-9-301,\n\nsubsection (c) of Section 1-9-305, subsection (d) of Section 1-9-\n\n306A, or subsection (b) of Section 1-9-306B of this title remains\n\nperfected until the earliest of:\n\n(1) the time perfection would have ceased under the law of that\n\njurisdiction;\n\n(2) the expiration of four (4) months after a change of the\n\ndebtor's location to another jurisdiction; or\n\n(3) the expiration of one (1) year after a transfer of\n\ncollateral to a person that thereby becomes a debtor and is located\n\nin another jurisdiction.\n\n(b) If a security interest described in subsection (a) of this\n\nsection becomes perfected under the law of the other jurisdiction\n\nbefore the earliest time or event described in that subsection, it\n\nremains perfected thereafter. If the security interest does not\n\nbecome perfected under the law of the other jurisdiction before the\n\nearliest time or event, it becomes unperfected and is deemed never\n\nto have been perfected as against a purchaser of the collateral for\n\nvalue.\n\n(c) A possessory security interest in collateral, other than\n\ngoods covered by a certificate of title and as-extracted collateral\n\nconsisting of goods, remains continuously perfected if:\n\n(1) the collateral is located in one jurisdiction and subject\n\nto a security interest perfected under the law of that jurisdiction;\n\n(2) thereafter the collateral is brought into another\n\njurisdiction; and\n\n(3) upon entry into the other jurisdiction, the security\n\ninterest is perfected under the law of the other jurisdiction.\n\n(d) Except as otherwise provided in subsection (e) of this\n\nsection, a security interest in goods covered by a certificate of\n\ntitle which is perfected by any method under the law of another\n\njurisdiction when the goods become covered by a certificate of title\n\nfrom this state remains perfected until the security interest would\n\nhave become unperfected under the law of the other jurisdiction had\n\nthe goods not become so covered.\n\n(e) A security interest described in subsection (d) of this\n\nsection becomes unperfected as against a purchaser of the goods for\n\nvalue and is deemed never to have been perfected as against a\n\npurchaser of the goods for value if the applicable requirements for\n\nperfection under subsection (b) of Section 1-9-311 or Section 1-9-\n\n313 of this title are not satisfied before the earlier of:\n\n(1) the time the security interest would have become\n\nunperfected under the law of the other jurisdiction had the goods\n\nnot become covered by a certificate of title from this state; or\n\n(2) the expiration of four (4) months after the goods had\n\nbecome so covered.\n\n(f) A security interest in chattel paper, controllable\n\naccounts, controllable electronic records, controllable payment\n\nintangibles, deposit accounts, letter-of-credit rights, or\n\ninvestment property which is perfected under the law of the chattel\n\npaper's jurisdiction, the controllable electronic records'\n\njurisdiction, the bank's jurisdiction, the issuer's jurisdiction, a\n\nnominated person's jurisdiction, the securities intermediary's\n\njurisdiction, or the commodity intermediary's jurisdiction, as\n\napplicable, remains perfected until the earlier of:\n\n(1) the time the security interest would have become\n\nunperfected under the law of that jurisdiction; or\n\n(2) the expiration of four (4) months after a change of the\n\napplicable jurisdiction to another jurisdiction.\na\n\nnominated person's jurisdiction, the securities intermediary's\n\njurisdiction, or the commodity intermediary's jurisdiction, as\n\napplicable, remains perfected until the earlier of:\n\n(1) the time the security interest would have become\n\nunperfected under the law of that jurisdiction; or\n\n(2) the expiration of four (4) months after a change of the\n\napplicable jurisdiction to another jurisdiction.\n\n(g) If a security interest described in subsection (f) of this\n\nsection becomes perfected under the law of the other jurisdiction\n\nbefore the earlier of the time or the end of the period described in\n\nthat subsection, it remains perfected thereafter. If the security\n\ninterest does not become perfected under the law of the other\n\njurisdiction before the earlier of that time or the end of that\n\nperiod, it becomes unperfected and is deemed never to have been\n\nperfected as against a purchaser of the collateral for value.\n\n(h) The following rules apply to collateral to which a security\n\ninterest attaches within four (4) months after the debtor changes\n\nits location to another jurisdiction:\n\n(1) a financing statement filed before the change pursuant to\n\nthe law of the jurisdiction designated in subsection (1) of Section\n\n1-9-301 of this title or subsection (c) of 1-9-305 of this title is\n\neffective to perfect a security interest in the collateral if the\n\nfinancing statement would have been effective to perfect a security\n\ninterest in the collateral if the debtor had not changed its\n\nlocation.\n\n(2) if a security interest that is perfected by a financing\n\nstatement that is effective under paragraph (1) of this subsection\n\nbecomes perfected under the law of the other jurisdiction before the\n\nearlier of the time the financing statement would have become\n\nineffective under the law of the jurisdiction designated in\n\nsubsection (1) of Section 1-9-301 of this title or subsection (c) of\n\nSection 1-9-305 of this title or the expiration of the four-month\n\nperiod, it remains perfected thereafter. If the security interest\n\ndoes not become perfected under the law of the other jurisdiction\n\nbefore the earlier time or event, it becomes unperfected and is\n\ndeemed never to have been perfected as against a purchaser of the\n\ncollateral for value.\n\n(i) If a financing statement naming an original debtor is filed\n\npursuant to the law of the jurisdiction designated in subsection (1)\n\nof Section 1-9-301 of this title or subsection (c) of Section 1-9-\n\n305 of this title and the new debtor is located in another\n\njurisdiction, the following rules apply:\n\n(1) the financing statement is effective to perfect a security\n\ninterest in collateral in which the new debtor has or acquires\n\nrights before or within four (4) months after the new debtor becomes\n\nbound under subsection (d) of Section 1-9-203 of this title, if the\n\nfinancing statement would have been effective to perfect a security\n\ninterest in the collateral if the collateral had been acquired by\n\nthe original debtor.\n\n(2) a security interest that is perfected by the financing\n\nstatement and which becomes perfected under the law of the other\n\njurisdiction before the earlier of the expiration of the four-month\n\nperiod or the time the financing statement would have become\n\nineffective under the law of the jurisdiction designated in\n\nsubsection (1) of Section 1-9-301 of this title or subsection (c) of\n\nSection 1-9-305 of this title remains perfected thereafter. A\n\nsecurity interest that is perfected by the financing statement but\n\nwhich does not become perfected under the law of the other\n\njurisdiction before the earlier time or event becomes unperfected\n\nand is deemed never to have been perfected as against a purchaser of\n\nthe collateral for value.","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":"f306c957ec3c19545e14f2e7156846ea599cb1f24c5a994b4f93b9e341dc8a5e","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-315","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-317"},"notice":"GroundRules: Original legal text. Not legal advice."}