{"data":{"id":"us-ok/okla.-stat.-tit.-24-24-120","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 24, § 24-120","heading":"Voidable and nonvoidable transfers - Creditor's remedies","body":"and limitations thereon.\n\nA. A transfer or obligation is not voidable as provided for in\n\nparagraph 1 of subsection A of Section 5 of this act against a\n\nperson who took in good faith and for a reasonably equivalent value\n\nor against any subsequent transferee or obligee.\n\nB. Except as otherwise provided for in this section, to the\n\nextent a transfer is voidable in an action by a creditor pursuant to\n\nthe provisions of paragraph 1 of subsection A of Section 8 of this\n\nact, the creditor may recover judgment for the value of the asset\n\ntransferred, as adjusted in accordance with the provisions of\n\nsubsection C of this section, or the amount necessary to satisfy the\n\ncreditor's claim, whichever is less. The judgment may be entered\n\nagainst:\n\n1. The first transferee of the asset or the person for whose\n\nbenefit the transfer was made; or\n\n2. Any subsequent transferee other than a good faith transferee\n\nwho took for value or from any subsequent transferee.\n\nC. If the judgment provided for in subsection B of this section\n\nis based upon the value of the asset transferred, the judgment must\n\nbe for an amount equal to the value of the asset at the time of the\n\ntransfer, subject to adjustment as the equities may require.\n\nD. Notwithstanding voidability of a transfer or an obligation\n\npursuant to the provisions of the Uniform Fraudulent Transfer Act, a\n\ngood faith transferee or obligee is entitled, to the extent of the\n\nvalue given the debtor for the transfer or obligation, to:\n\n1. A lien on or a right to retain any interest in the asset\n\ntransferred;\n\n2. Enforcement of any obligation incurred; or\n\n3. A reduction in the amount of the liability on the judgment.E. A transfer is not voidable pursuant to the provisions of paragraph 2 of subsection A of Section 5 or Section 6 of this act if the transfer results\n\nfrom:\n\n1. Termination of a lease upon default by the debtor when the\n\ntermination is pursuant to the lease and applicable law; or\n\n2. Enforcement of a security interest in compliance with\n\nArticle 9 of the Uniform Commercial Code.\n\nF. A transfer is not voidable pursuant to the provisions of\n\nsubsection B of Section 6 of this act:\n\n1. To the extent the insider gave new value to or for the\n\nbenefit of the debtor after the transfer was made unless the new\n\nvalue was secured by a valid lien; or\n\n2. If made in the ordinary course of business or financial\n\naffairs of the debtor and the insider; or\n\n3. If made pursuant to a good-faith effort to rehabilitate the\n\ndebtor and the transfer secured present value given for that purpose\n\nas well as an antecedent debt of the debtor.","path":["OK Code","Title 24"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os24.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"2d66acf6608d19e0bd52450ea32486b91f00e2561fd835ef0a473e9f4a1bfc2e","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-24-24-12","next":"us-ok/okla.-stat.-tit.-24-24-121"},"notice":"GroundRules: Original legal text. Not legal advice."}