{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-324","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-324","heading":"Priority of purchase-money security interests","body":"PRIORITY OF PURCHASE-MONEY SECURITY INTERESTS\n\n(a) Except as otherwise provided in subsection (g) of this\n\nsection, a perfected purchase-money security interest in goods other\n\nthan inventory or livestock has priority over a conflicting security\n\ninterest in the same goods, and, except as otherwise provided in\n\nSection 1-9-327 of this title, a perfected security interest in its\n\nidentifiable proceeds also has priority, if the purchase-money\n\nsecurity interest is perfected when the debtor receives possession\n\nof the collateral or within twenty (20) days thereafter.\n\n(b) Subject to subsection (c) of this section and except as\n\notherwise provided in subsection (g) of this section, a perfected\n\npurchase-money security interest in inventory has priority over a\n\nconflicting security interest in the same inventory, has priority\n\nover a conflicting security interest in chattel paper or an\n\ninstrument constituting proceeds of the inventory and in proceeds of\n\nthe chattel paper, if so provided in Section 1-9-330 of this title,\n\nand, except as otherwise provided in Section 1-9-327 of this title,\n\nalso has priority in identifiable cash proceeds of the inventory to\n\nthe extent the identifiable cash proceeds are received on or before\n\nthe delivery of the inventory to a buyer, if:\n\n(1) the purchase-money security interest is perfected when the\n\ndebtor receives possession of the inventory;\n\n(2) the purchase-money secured party sends a signed\n\nnotification to the holder of the conflicting security interest;\n\n(3) the holder of the conflicting security interest receives\n\nthe notification within five (5) years before the debtor receives\n\npossession of the inventory; and\n\n(4) the notification states that the person sending the\n\nnotification has or expects to acquire a purchase-money security\n\ninterest in inventory of the debtor and describes the inventory.\n\n(c) Paragraphs (2) through (4) of subsection (b) of this\n\nsection apply only if the holder of the conflicting security\n\ninterest had filed a financing statement covering the same types of\n\ninventory:\n\n(1) if the purchase-money security interest is perfected by\n\nfiling, before the date of the filing; or\n\n(2) if the purchase-money security interest is temporarily\n\nperfected without filing or possession under subsection (f) of\n\nSection 1-9-312 of this title, before the beginning of the twenty-\n\nday period thereunder.\n\n(d) Subject to subsection (e) of this section and except as\n\notherwise provided in subsection (g) of this section, a perfected\n\npurchase-money security interest in livestock that are farm products\n\nhas priority over a conflicting security interest in the same\n\nlivestock, and, except as otherwise provided in Section 1-9-327 of\n\nthis title, a perfected security interest in their identifiable\n\nproceeds and identifiable products in their unmanufactured states\n\nalso has priority, if:\n\n(1) the purchase-money security interest is perfected when the\n\ndebtor receives possession of the livestock;\n\n(2) the purchase-money secured party sends a signed\n\nnotification to the holder of the conflicting security interest;\n\n(3) the holder of the conflicting security interest receives\n\nthe notification within six (6) months before the debtor receives\n\npossession of the livestock; and\n\n(4) the notification states that the person sending the\n\nnotification has or expects to acquire a purchase-money security\n\ninterest in livestock of the debtor and describes the livestock.\ntes - Title 12A. Uniform Commercial Code Page 85\n\n(3) the holder of the conflicting security interest receives\n\nthe notification within six (6) months before the debtor receives\n\npossession of the livestock; and\n\n(4) the notification states that the person sending the\n\nnotification has or expects to acquire a purchase-money security\n\ninterest in livestock of the debtor and describes the livestock.\n\n(e) Paragraphs (2) through (4) of subsection (d) of this\n\nsection applies only if the holder of the conflicting security\n\ninterest had filed a financing statement covering the same types of\n\nlivestock:\n\n(1) if the purchase-money security interest is perfected by\n\nfiling, before the date of the filing; or\n\n(2) if the purchase-money security interest is temporarily\n\nperfected without filing or possession under subsection (f) of\n\nSection 1-9-312 of this title, before the beginning of the twenty-\n\nday period thereunder.\n\n(f) Except as otherwise provided in subsection (g) of this\n\nsection, a perfected purchase-money security interest in software\n\nhas priority over a conflicting security interest in the same\n\ncollateral, and, except as otherwise provided in Section 1-9-327 of\n\nthis title, a perfected security interest in its identifiable\n\nproceeds also has priority, to the extent that the purchase-money\n\nsecurity interest in the goods in which the software was acquired\n\nfor use has priority in the goods and proceeds of the goods under\n\nthis section.\n\n(g) If more than one security interest qualifies for priority\n\nin the same collateral under subsection (a), (b), (d), or (f) of\n\nthis section:\n\n(1) a security interest securing an obligation incurred as all\n\nor part of the price of the collateral has priority over a security\n\ninterest securing an obligation incurred for value given to enable\n\nthe debtor to acquire rights in or the use of collateral; and\n\n(2) in all other cases, subsection (a) of Section 1-9-322 of\n\nthis title applies to the qualifying security interests.","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":"d24f92d248a8c0c3ae549a5daae03667d4bc48535cfa9af3fde88ffcd9b40183","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-323","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-325"},"notice":"GroundRules: Original legal text. Not legal advice."}