2016 Oklahoma Statutes
Title 12A. Commercial Code
§12A-1-9-806. When initial financing statement suffices to continue effectiveness of financing statement.
WHEN INITIAL FINANCING STATEMENT SUFFICES
TO CONTINUE EFFECTIVENESS OF FINANCING STATEMENT
(a) The filing of an initial financing statement in the office specified in Section 1-9-501 of Title 12A of the Oklahoma Statutes continues the effectiveness of a financing statement filed before this act takes effect if:
(1) the filing of an initial financing statement in that office would be effective to perfect a security interest under Article 9 of the Uniform Commercial Code as amended by this act;
(2) the pre-effective-date financing statement was filed in an office in another state; and
(3) the initial financing statement satisfies subsection (c) of this section.
(b) The filing of an initial financing statement under subsection (a) of this section continues the effectiveness of the pre-effective-date financing statement:
(1) if the initial financing statement is filed before this act takes effect, for the period provided in Section 1-9-515 of Title 12A of the Oklahoma Statutes as it existed before amendment by this act with respect to a financing statement; and
(2) if the initial financing statement is filed after this act takes effect, for the period provided in Section 1-9-515 of Title 12A of the Oklahoma Statutes as amended by this act with respect to an initial financing statement.
(c) To be effective for purposes of subsection (a) of this section, an initial financing statement must:
(1) satisfy the requirements of Part 5 of Article 9 of the Uniform Commercial Code as amended by this act for an initial financing statement;
(2) identify the pre-effective-date financing statement by indicating the office in which the financing statement was filed and providing the dates of filing and file numbers, if any, of the financing statement and of the most recent continuation statement filed with respect to the financing statement; and
(3) indicate that the pre-effective-date financing statement remains effective.
Added by Laws 2015, c. 374, § 22, eff. Nov. 1, 2015.
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