STATE OF OKLAHOMA

1st Session of the 52nd Legislature (2009)

SENATE BILL 1030	By:	Barrington

AS INTRODUCED

An Act relating to the Uniform Commercial Code; amending 12A O.S. 2001, Section 1-9-501, which relates to filing office; modifying certain filing requirement; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     AMENDATORY     12A O.S. 2001, Section 1-9-501, is amended to read as follows:
Section 1-9-501.
FILING OFFICE
(a)  Except as otherwise provided in subsection (b) of this section, if the local law of this state governs perfection of a security interest or agricultural lien, the office in which to file a financing statement to perfect the security interest or agricultural lien is:
(1)  the office designated for the filing or recording of a record of a mortgage on the related real property, if:
(A)	the collateral is as-extracted collateral or timber to be cut; or
(B)	the financing statement is filed as a fixture filing and the collateral is goods that are or are to become fixtures; or
(2)  the office of the county clerk of Oklahoma County Secretary of State, in all other cases, including a case in which the collateral is goods that are or are to become fixtures and the financing statement is not filed as a fixture filing.
(b)  The office in which to file a financing statement to perfect a security interest in collateral, including fixtures, of a transmitting utility is the office of the Secretary of State pursuant to Sections 17 and 18 of Title 46 of the Oklahoma Statutes.  The financing statement also constitutes a fixture filing as to the collateral indicated in the financing statement which is or is to become fixtures.
SECTION 2.  This act shall become effective November 1, 2009.

52-1-1531	TEK	1/15/2009 4:15:25 PM