Oklahoma Code § 12A-1-9-335

Title 12A. Uniform Commercial Code: Accessions
Open in Lexace · Ask the AI about this section
ACCESSIONS
(a)  A security interest may be created in an accession and
continues in collateral that becomes an accession.
(b)  If a security interest is perfected when the collateral
becomes an accession, the security interest remains perfected in the
collateral.
(c)  Except as otherwise provided in subsection (d) of this
section, the other provisions of this part determine the priority of
a security interest in an accession.
(d)  A security interest in an accession is subordinate to a
security interest in the whole which is perfected by compliance with
the requirements of a certificate-of-title statute under subsection
(b) of Section 1-9-311 of this title.
(e)  After default, subject to Part 6 of this article, a secured
party may remove an accession from other goods if the security
interest in the accession has priority over the claims of every
person having an interest in the whole.
(f)  A secured party that removes an accession from other goods
under subsection (e) of this section shall promptly reimburse any
holder of a security interest or other lien on, or owner of, the
whole or of the other goods, other than the debtor, for the cost of
repair of any physical injury to the whole or the other goods.  The
secured party need not reimburse the holder or owner for any
diminution in value of the whole or the other goods caused by the
absence of the accession removed or by any necessity for replacing
it.  A person entitled to reimbursement may refuse permission to
remove until the secured party gives adequate assurance for the
performance of the obligation to reimburse.

‹ Prev All Oklahoma sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.