Okla. Stat. tit. 12A § 1-9-333

Current through Laws 2024, c. 453.

Section 1-9-333 - Priority of certain liens arising by operation of law

(a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien:

(1) which secures payment or performance of an obligation for services or materials furnished with respect to goods by a person in the ordinary course of the person's business;

(2) which is created by statute or rule of law in favor of the person; and

(3) whose effectiveness depends on the person's possession of the goods.

(b) A possessory lien on goods has priority over a security interest in the goods unless the lien is created by a statute that expressly provides otherwise.

Okla. Stat. tit. 12A, § 1-9-333

Added by Laws 2000 , SB 1519, c. 371, § 60, eff. 7/1/2001.

Oklahoma Code Comment

Possessory liens typically retain their priority. Security National Bank & Trust Co. v. Reiginger, 610 P.2d 1222 (Okl. 1980). A surety who pays a contractor's claims has a right of subrogation to amounts due to the contractor under the contract. This equitable right will continue to be superior to the perfected security interest of a lender with a perfected security interest in the contractor's accounts. See Mid-Continent Cas. Co. v. First National Bank & Trust Co., 531 P.2d 1370 (Okl. 1975). Thus, prior Oklahoma law governing statutory or common law possessory liens is unchanged by revised Article 9.