USE OR DISPOSITION OF COLLATERAL PERMISSIBLE (a) A security interest is not invalid or fraudulent against creditors solely because:(1) the debtor has the right or ability to:(A)use, commingle, or dispose of all or part of the collateral, including returned or repossessed goods;(B)collect, compromise, enforce, or otherwise deal with collateral;(C)accept the return of collateral or make repossessions; or(D)use, commingle, or dispose of proceeds; or(2) the secured party fails to require the debtor to account for proceeds or replace collateral.(b) This section does not relax the requirements of possession if attachment, perfection, or enforcement of a security interest depends upon possession of the collateral by the secured party.Added by Laws 2000, c. 371, § 15, eff. July 1, 2001.
Oklahoma Legal Code