{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-607","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-607","heading":"Collection and enforcement by secured party","body":"COLLECTION AND ENFORCEMENT BY SECURED PARTY\n\n(a) If so agreed, and in any event after default, a secured\n\nparty:\n\n(1) may notify an account debtor or other person obligated on\n\ncollateral to make payment or otherwise render performance to or for\n\nthe benefit of the secured party;\n\n(2) may take any proceeds to which the secured party is\n\nentitled under Section 1-9-315 of this title;\n\n(3) may enforce the obligations of an account debtor or other\n\nperson obligated on collateral and exercise the rights of the debtor\n\nwith respect to the obligation of the account debtor or other person\n\nobligated on collateral to make payment or otherwise render\n\nperformance to the debtor, and with respect to any property that\n\nsecures the obligations of the account debtor or other person\n\nobligated on the collateral;\n\n(4) if it holds a security interest in a deposit account\n\nperfected by control under paragraph (1) of subsection (a) of\n\nSection 1-9-104 of this title, may apply the balance of the deposit\n\naccount to the obligation secured by the deposit account; and\n\n(5) if it holds a security interest in a deposit account\n\nperfected by control under paragraph (2) or (3) of subsection (a)\n\nSection 1-9-104 of this title, may instruct the bank to pay the\n\nbalance of the deposit account to or for the benefit of the secured\n\nparty.\n\n(b) If necessary to enable a secured party to exercise under\n\nparagraph (3) of subsection (a) of this section the right of a\n\ndebtor to enforce a mortgage nonjudicially, the secured party may\n\nrecord in the office in which a record of the mortgage is recorded:\n\n(1) a copy of the security agreement that creates or provides\n\nfor a security interest in the obligation secured by the mortgage;\n\nand\n\n(2) the secured party's sworn affidavit in recordable form\n\nstating that:\n\n(A) a default has occurred with respect to the obligation\n\nsecured by the mortgage; and\n\n(B) the secured party is entitled to enforce the mortgage\n\nnonjudicially.\n\n(c) A secured party shall proceed in a commercially reasonable\n\nmanner if the secured party:\n\n(1) undertakes to collect from or enforce an obligation of an\n\naccount debtor or other person obligated on collateral; and\n\n(2) is entitled to charge back uncollected collateral or\n\notherwise to full or limited recourse against the debtor or a\n\nsecondary obligor.\n\n(d) A secured party may deduct from the collections made\n\npursuant to subsection (c) of this section reasonable expenses of\n\ncollection and enforcement, including reasonable attorney fees and\n\nlegal expenses incurred by the secured party.\n\n(e) This section does not determine whether an account debtor,\n\nbank, or other person obligated on collateral owes a duty to a\n\nsecured party.","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":"bc6ca9150dbbc8c7f401371d97edab907022df9e0638d250154c879dbdfd3b6e","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-606","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-608"},"notice":"GroundRules: Original legal text. Not legal advice."}