The following security interests are perfected when they attach:
Okla. Stat. tit. 12A, § 1-9-309
Oklahoma Code Comment
Sales of payment intangibles and promissory notes are now covered by article 9, in addition to sales of accounts and chattel paper (which were covered by old article 9 section 9-102 ) , under revised section 9-109(a) . Sales of payment intangibles and promissory notes (but not accounts or chattel paper) are automatically perfected under revised section 9-309(3) and (4) . Security interests in payment intangibles, and promissory notes, accounts and chattel paper are subject to Article 9, but are treated differently from sales. See sections 9-109(a) (1) and 9-310 . Thus the distinction between a sale and a security interest is important. "Security interest" is defined at UCC section 1-201(37) but "sale" is not defined in the UCC, except for purposes of a sale of goods at section 2-106(1) (sale consists of passing title for a price). But see revised section 9-202 ("Title to Collateral Immaterial"). See generally Craig H. Ulman, Scope of Revised Article 9: The Effects of Inclusions and Exclusions, 54 Consumer Fin. L.Q. Rep. 156 (2000); Alvin C. Harrell, Drafting Contracts Under Revised Article 9, 53 Consumer Fin. L.Q. Rep. 138 (1999). Clearly sections 9-109 and 9-309(3) and (4) represent an expansion of the scope of Article 9 to cover new ranges of genuine sales transactions, potentially triggering new Octagon-like surprises for parties unaware of this expanded scope. See Harrell, supra, at 167 and 180; Octagon Gas Systems, Inc. v. Rimmer, 995 F.2d 948 (10th Cir. 1993).