{"data":{"id":"us-ok/okla.-stat.-tit.-63-63-4013","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 63, § 63-4013","heading":"Perfection of security interest - Applicability of Title","body":"12A - Surrender of certificate or application to secured party -\n\nDelivery to Commission - Satisfaction and release - Penalty - New\n\ncertificate - Security interests perfected prior to effective date\n\nof act.\n\nA. 1. Except for a security interest in vessels or motors held\n\nby a dealer for sale or lease, a security interest, as defined in\n\nparagraph (35) of Section 1-201 of Title 12A of the Oklahoma\n\nStatutes, in a vessel or motor as to which a certificate of title\n\nmay be properly issued by Service Oklahoma shall be perfected only\n\nwhen a lien entry form prescribed by Service Oklahoma, and the\n\nexisting certificate of title, if any, or application for a\n\ncertificate of title and manufacturer's certificate of origin or\n\nother identification number containing the name and address of the\n\nsecured party and the date of the security agreement and the\n\nrequired fee are delivered to Service Oklahoma or to a licensed\n\noperator. The filing and duration of perfection of a security\n\ninterest, pursuant to the provisions of Title 12A of the Oklahoma\n\nStatutes, including, but not limited to, Section 1-9-311 of Title\n\n12A of the Oklahoma Statutes, shall not be applicable to perfection\n\nof security interests in vessels or motors as to which a certificate\n\nof title may be properly issued by Service Oklahoma, except as to\n\nvessels or motors held by a dealer for sale or lease and except as\n\nprovided in subsection D of this section. In all other respects\n\nTitle 12A of the Oklahoma Statutes shall be applicable to such\n\nsecurity interests in vessels or motors as to which a certificate of\n\ntitle may be properly issued by Service Oklahoma.\n\n2. Whenever a person creates a security interest in a vessel or\n\nmotor, such person shall surrender to the secured party the\n\ncertificate of title or the signed application for a new certificate\n\nof title, on the form prescribed by Service Oklahoma, and the\n\nmanufacturer's certificate of origin or other identification number.\n\nThe secured party shall deliver the lien entry form and the required\n\nlien filing fee within twenty-five (25) calendar days as provided\n\nhereafter with certificate of title or the application for\n\ncertificate of title, and the manufacturer's certificate of origin\n\nor other identification number to Service Oklahoma or to a licensed\n\noperator. Perfection of the security interest shall begin from the\n\ndate of the delivery to Service Oklahoma or to a licensed operator\n\nof (i) the lien entry form, (ii) the lien filing fee, and (iii) the\n\ncertificate of title or application for certificate of title and the\n\nmanufacturer's certificate of origin or other identification number.\n\nWhen a vessel or motor title is presented to a licensed operator for\n\ntransfer or registration and the documents reflect a lienholder, the\n\nlicensed operator shall perfect the lien as provided for in\n\nsubsection G of Section 1105 of Title 47 of the Oklahoma Statutes.\n\n3. Upon the receipt of the lien entry form and the required\n\nfees with either the certificate of title or an application for\n\ncertificate of title and manufacturer's certificate of origin or\n\nother identification number, a licensed operator shall, by placement\n\nof a clearly distinguishing mark, record the date and number shown\n\nin a conspicuous place, on each of these instruments.\n\n4. The certificate of title or the application for certificate\n\nof title and manufacturer's certificate of origin or other\n\nidentification number with the record of the date of receipt clearly\n\nmarked thereon shall be returned to the debtor together with a\n\nnotice that the debtor is required to register and pay all\n\nadditional fees and taxes due within thirty (30) calendar days from\n\nthe date of purchase of said vessel or motor.\n\n5. Any person creating a security interest in a vessel or motor\n\nthat has been previously registered in the debtor's name and on\nof the date of receipt clearly\n\nmarked thereon shall be returned to the debtor together with a\n\nnotice that the debtor is required to register and pay all\n\nadditional fees and taxes due within thirty (30) calendar days from\n\nthe date of purchase of said vessel or motor.\n\n5. Any person creating a security interest in a vessel or motor\n\nthat has been previously registered in the debtor's name and on\n\nwhich all taxes due the state have been paid shall surrender the\n\ncertificate of ownership to the secured party. The secured party\n\nshall have the duty to record the security interest as provided in\n\nthis section and shall, at the same time, obtain a new certificate\n\nof title which shall show the secured interest on the face of such\n\ncertificate of title.\n\n6. The lien entry form with the date and assigned number\n\nthereof clearly marked thereon shall be returned to the secured\n\nparty. If the lien entry form is received and authenticated, as\n\nherein provided, by a licensed operator, such licensed operator\n\nshall make a report thereof to Service Oklahoma upon the forms and\n\nin the manner as may be prescribed by Service Oklahoma.\n\n7. Service Oklahoma shall have the duty to record the lien upon\n\nthe face of the certificate of title issued at the time of\n\nregistering and paying all fees and taxes due on such vessel or\n\nmotor.\n\nB. 1. A secured party shall, within seven (7) business days\n\nafter the satisfaction of such security interest, furnish directly\n\nor by mail a release of a security interest to Service Oklahoma and\n\nmail a copy thereof to the last-known address of the debtor. If the\n\nsecurity interest has been satisfied by payment from a licensed used\n\nboat dealer to whom the used vessel or motor has been transferred,\n\nthe secured party shall also, within seven (7) business days after\n\nsuch satisfaction, mail a certified copy of copy number one of the\n\nrelease of security interest to such dealer. If the secured party\n\nfails to furnish such release as herein required, the secured party\n\nshall be liable to the debtor for a penalty of One Hundred Dollars\n\n($100.00) and, in addition, any loss caused to the debtor by such\n\nfailure.\n\n2. Upon release of a security interest the owner may obtain a\n\nnew certificate of title omitting reference to the security\n\ninterest, by submitting to Service Oklahoma or to a licensed\n\noperator:\n\na. a release signed by the secured party, an application\n\nfor new certificate of title and the proper fees, or\n\nb. by submitting to Service Oklahoma or the licensed\n\noperator an affidavit, supported by such documentation\n\nas Service Oklahoma may require, by the owner on a\n\nform prescribed by Service Oklahoma stating that the\n\nsecurity interest has been satisfied and stating the\n\nreasons why a release cannot be obtained, an\n\napplication for a new certificate of title and the\n\nproper fees.\n\nUpon receiving such affidavit that the security interest has been\n\nsatisfied, Service Oklahoma shall issue a new certificate of title\n\neliminating the satisfied security interest and the name and address\n\nof the secured parties who have been paid and satisfied. Service\n\nOklahoma shall accept a release of a security interest in any form\n\nthat identifies the debtor, the secured party, and the vessel or\n\nmotor and contains the signature of the secured party. Service\n\nOklahoma shall not require any particular form for the release of a\n\nsecurity interest.\n\nThe words \"security interest\" when used in the Oklahoma Vessel\n\nand Motor Registration Act do not include liens dependent upon\n\npossession.\n\nC. Service Oklahoma shall file and index certificates of title\n\nso that at all times it will be possible to trace a certificate of\n\ntitle to the vessel or motor designated therein, identify the lien\n\nentry form, and the names and addresses of secured parties, or their\n\nassignees, so that all or any part of such information may be made\nistration Act do not include liens dependent upon\n\npossession.\n\nC. Service Oklahoma shall file and index certificates of title\n\nso that at all times it will be possible to trace a certificate of\n\ntitle to the vessel or motor designated therein, identify the lien\n\nentry form, and the names and addresses of secured parties, or their\n\nassignees, so that all or any part of such information may be made\n\nreadily available to those who make legitimate inquiry of Service\n\nOklahoma as to the existence or nonexistence of security interest in\n\nthe vessel or motor.\n\nD. 1. Any security interest in a vessel or motor properly\n\nperfected prior to January 1, 1990, may be continued as to its\n\neffectiveness or duration as provided by Section 1-9-515 of Title\n\n12A of the Oklahoma Statutes, or may be terminated, assigned or\n\nreleased as provided by Sections 1-9-513 and 1-9-514 of Title 12A of\n\nthe Oklahoma Statutes, as fully as if this section had not been\n\nenacted, or, at the option of the secured party, may also be\n\nperfected under this section, and, if so perfected, the time of\n\nperfection under this section shall be the date said security\n\ninterest was originally perfected under the prior law.\n\n2. Upon request of the secured party, the debtor or any other\n\nholder of the certificate of title shall surrender said certificate\n\nof title to the secured party and shall do such other acts as may be\n\nrequired to perfect said security interest under this section.","path":["OK Code","Title 63"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os63.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"1fa60d35327345d812f1b99ecdd36615b023985ee6c769026cc10d8ca91fb371","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-63-63-4012.1","next":"us-ok/okla.-stat.-tit.-63-63-4014"},"notice":"GroundRules: Original legal text. Not legal advice."}