{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-705","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-705","heading":"Effectiveness of action taken before effective date","body":"of act.\n\nEFFECTIVENESS OF ACTION TAKEN\n\nBEFORE EFFECTIVE DATE OF ACT\n\n(a) If action, other than the filing of a financing statement,\n\nis taken before this act takes effect and the action would have\n\nresulted in priority of a security interest over the rights of a\n\nperson that becomes a lien creditor had the security interest become\n\nenforceable before this act takes effect, the action is effective to\n\nperfect a security interest that attaches under this act within one\n\n(1) year after this act takes effect. An attached security interest\n\nbecomes unperfected one (1) year after this act takes effect unless\n\nthe security interest becomes a perfected security interest under\n\nthis act before the expiration of that period.\n\n(b) The filing of a financing statement before this act takes\n\neffect is effective to perfect a security interest to the extent the\n\nfiling would satisfy the applicable requirements for perfection\n\nunder this act.\n\n(c) This act does not render ineffective an effective financing\n\nstatement that, before this act takes effect, is filed and satisfies\n\nthe applicable requirements for perfection under the law of the\n\njurisdiction governing perfection as provided in former Section 9-\n\n103.1 of this title. However, except as otherwise provided in\n\nsubsections (d) and (e) of this section and Section 1-9-706 of this\n\ntitle, the financing statement ceases to be effective at the earlier\n\nof:\n\n(1) the time the financing statement would have ceased to be\n\neffective under the law of the jurisdiction in which it is filed; or\n\n(2) June 30, 2006.\n\n(d) The filing of a continuation statement after this act takes\n\neffect does not continue the effectiveness of the financing\n\nstatement filed before this act takes effect. However, upon the\n\ntimely filing of a continuation statement after this act takes\n\neffect and in accordance with the law of the jurisdiction governing\n\nperfection as provided in Part 3 of this article, the effectiveness\n\nof a financing statement filed in the same office in that\n\njurisdiction before this act takes effect continues for the period\n\nprovided by the law of that jurisdiction.\n\n(e) Paragraph (2) of subsection (c) of this section applies to\n\na financing statement that, before this act takes effect, is filed\n\nagainst a transmitting utility and satisfies the applicable\n\nrequirements for perfection under the law of the jurisdiction\n\ngoverning perfection as provided in former Section 9-103.1 only to\n\nthe extent that Part 3 of this article provides that the law of a\n\njurisdiction other than the jurisdiction in which the financing\n\nstatement is filed governs perfection of a security interest in\n\ncollateral covered by the financing statement.\n\n(f) A financing statement that includes a financing statement\n\nfiled before this act takes effect and a continuation statement\n\nfiled after this act takes effect is effective only to the extent\n\nthat it satisfies the requirements of Part 5 of this article for an\n\ninitial financing statement.\n\n(g) If an effective financing statement was filed before July\n\n1, 2001, and that financing statement would otherwise cease to be\n\neffective on June 30, 2006, by operation of paragraph (2) of\n\nsubsection (c) of this section, a continuation statement permitted\n\nto be filed by the second sentence of subsection (d) of this section\n\nmay be filed between December 30, 2005, and June 30, 2006,\n\ninclusive, and will be timely, notwithstanding subsection (d) of\n\nSection 1-9-515 of this title. Without limitation, this provision\n\napplies to collateral, however described under former law, that\n\nmeets the definition of “as-extracted collateral” in Section 1-9-102\n\nof this title.","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":"e58344a827e25b0b8d51f17c915b794a4aaca0a1ab56d7d5fb5aab1aea32c185","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-704","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-706"},"notice":"GroundRules: Original legal text. Not legal advice."}