{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-621","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-621","heading":"Notification of proposal to accept collateral","body":"NOTIFICATION OF PROPOSAL TO ACCEPT COLLATERAL\n\n(a) A secured party that desires to accept collateral in full\n\nor partial satisfaction of the obligation it secures shall send its\n\nproposal to:\n\n(1) any person from which the secured party has received,\n\nbefore the debtor consented to the acceptance, a signed notification\n\nof a claim of an interest in the collateral;\n\n(2) any other secured party or lienholder that, ten (10) days\n\nbefore the debtor consented to the acceptance, held a security\n\ninterest in or other lien on the collateral perfected by the filing\n\nof a financing statement that:\n\n(A) identified the collateral;\n\n(B) was indexed under the debtor's name as of that date;\n\nand\n\n(C) was filed in the office or offices in which a\n\nfinancing statement against the debtor covering the\n\ncollateral as of that date would have been filed; and\n\n(3) any other secured party that, ten (10) days before the\n\ndebtor consented to the acceptance, held a security interest in the\n\ncollateral perfected by compliance with a statute, regulation, or\n\ntreaty described in subsection (a) of Section 1-9-311 of this title.\n\n(b) A secured party that desires to accept collateral in\n\npartial satisfaction of the obligation it secures shall send its\n\nproposal to any secondary obligor in addition to the persons\n\ndescribed in subsection (a) of this section.","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":"07160cdf78ebd9661d07963ae13d5572776aa278c9bd55fb8f53d67b4143b692","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-620","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-622"},"notice":"GroundRules: Original legal text. Not legal advice."}