Okla. Stat. tit. 12A § 1-9-202
Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the provisions of this article with regard to rights and obligations apply whether title to collateral is in the secured party or the debtor.
Okla. Stat. tit. 12A, § 1-9-202
Oklahoma Code Comment
The revision to section 9-202 continues current law providing that the issue of in whom title to collateral is vested is generally irrelevant with respect to the rights, obligations and remedies afforded by Article 9, but adds two exceptions. Specifically, with respect to (i) consignments, or (ii) sales of accounts, chattel paper, payment intangibles, and promissory notes, treatment under Article 9 depends upon title and ownership in certain circumstances.
The revision (with the addition of such exceptions) is not intended to change existing law (except to the extent Article 9 applies to transactions for the first time), and the new section does not appear to affect the limited Oklahoma case law interpreting section 9-202. For example, Brunswick Corp. v. J & P, Inc., 296 F.Supp. 544 (D.C. Okla. 1969), aff'd, 424 F.2d 100, held that the provisions of Article 9 setting up simple methods of foreclosure and providing for the equity of redemption in a conditional sales contract vendee did not prohibit the use of that form of contract or change its retained title characteristics (subject to section 1-201(37) stating that a retention of title is limited to the reservation of a security interest), or alter the vendor's right of possession. It should be recognized that for purposes outside Article 9, whether title transfers may be important; that is, whether title has passed in a sale, or not, as in a loan. See revised section 9-318 and former Permanent Editorial Board Commentary No. 14, rejecting the analysis in Octagon Gas Systems, Inc. v. Rimmer, 995 F.2d 948 (10th Cir. 1993), cert. denied, 114 S.Ct. 554 (1993).