{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-601","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-601","heading":"Rights after default - Judicial enforcement -","body":"Consignor or buyer of accounts, chattel paper, payment intangibles,\n\nor promissory notes.\n\nRIGHTS AFTER DEFAULT; JUDICIAL ENFORCEMENT;\n\nCONSIGNOR OR BUYER OF ACCOUNTS, CHATTEL PAPER,\n\nPAYMENT INTANGIBLES, OR PROMISSORY NOTES\n\n(a) After default, a secured party has the rights provided in\n\nthis part and, except as otherwise provided in Section 1-9-602 of\n\nthis title, those provided by agreement of the parties. A secured\n\nparty:\n\n(1) may reduce a claim to judgment, foreclose, or otherwise\n\nenforce the claim, security interest, or agricultural lien by any\n\navailable judicial procedure, but Section 686 of Title 12 of the\n\nOklahoma Statutes, shall not apply to the enforcement of a claim,\n\nsecurity interest, or agricultural lien under this article except as\n\nprovided in Section 1-9-604 of this title where the procedure is in\n\naccordance with the rights of the parties with respect to real\n\nproperty; and\n\n(2) if the collateral is documents, may proceed either as to\n\nthe documents or as to the goods they cover.\n\n(b) A secured party in possession of collateral or control of\n\ncollateral under Section 7-106, 1-9-104, 1-9-105, 1-9-106, 1-9-107,\n\nor 1-9-107A of this title has the rights and duties provided in\n\nSection 1-9-207 of this title.\n\n(c) The rights under subsections (a) and (b) of this section\n\nare cumulative and may be exercised simultaneously.\n\n(d) Except as otherwise provided in subsection (g) of this\n\nsection and Section 1-9-605 of this title, after default, a debtor\n\nand an obligor have the rights provided in this part and by\n\nagreement of the parties.\n\n(e) If a secured party has reduced its claim to judgment, the\n\nlien of any levy that may be made upon the collateral by virtue of\n\nan execution based upon the judgment relates back to the earliest\n\nof:\n\n(1) the date of perfection of the security interest or\n\nagricultural lien in the collateral;\n\n(2) the date of filing a financing statement covering the\n\ncollateral; or\n\n(3) any date specified in a statute under which the\n\nagricultural lien was created.\n\n(f) A sale pursuant to an execution is a foreclosure of the\n\nsecurity interest or agricultural lien by judicial procedure within\n\nthe meaning of this section. A secured party may purchase at the\n\nsale and thereafter hold the collateral free of any other\n\nrequirements of this article.\n\n(g) Except as otherwise provided in subsection (c) of Section\n\n1-9-607 of this title, this part imposes no duties upon a secured\n\nparty that is a consignor or is a buyer of accounts, chattel paper,\n\npayment intangibles, or promissory notes.","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":"aa44cd2ff9eec6eaedb7895835bf0f12ace359c08baf4375fb8ef03cae37401e","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-527","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-602"},"notice":"GroundRules: Original legal text. Not legal advice."}