Okla. Stat. » Title 12A — UNIFORM COMMERCIAL CODE
Oklahoma Statutes

Okla. Stat. tit. 12A, § 9-306 (2026)

Repealed by Laws 2000, c. 371, § 185, eff. July 1,

✓ current as of July 2026
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2001.

Notes of Decisions
Cited in 21 cases, 1973–2016 · leading case: Shebester v. Triple Crown Insurers, 826 P.2d 603 (Okla. 1992).
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Shebester v. Triple Crown Insurers, 826 P.2d 603 (Okla. 1992). · cites it 4× “even though such insurance payments may be made by third party tortfeasors or their insurers, except to the extent that it is payable to a person other than a party to the security agreement.”
Fid. Fin. Servs. v. Blaser, 889 P.2d 268 (Okla. 1994). · cites it 12× “*270 Trader's noted that 12A O.S. 1991 § 9-306 [1] provides that insurance payments are "proceeds" and that the section provides only for continuance of a security interest in proceeds.”
North Texas Prod. Credit Ass'n v. McCurtain Cnty. Nat'l Bank, 222 F.3d 800 (10th Cir. 2000). · cites it 2× “Comment 2(c) to Okla. Stat. Ann. tit. 12A, § 9-306 provides that “[w]here cash proceeds are covered into the debtor’s checking account and paid out in the operation of the debtor’s business, recipients of the funds of course take free of any claim which the secured party may…”
The First Nat'l Bank & Trust Co. of Oklahoma City, Plaintiff v. Iowa Beef Processors, Inc., 626 F.2d 764 (1st Cir. 1980). · cites it 2× “It ruled the bank had given express consent to the sale, which cut off any continuing security interest in the collateral pursuant to Okla.Stat.Ann. tit. 12A, § 9-306(2) (West 1963).”
J.I. Case Credit Corp. v. Bobby Crites, & Rodney Timm, 851 F.2d 309 (10th Cir. 1988). · cites it 2× “” *314 See Okla.Stat.Ann. tit. 12A, § 9-306, UCC Comment 3.”
Anderson, Clayton & Co. v. First Am. Bank of Erick, 614 P.2d 1091 (Okla. 1980). · cites it 2× “The term also includes the account arising when the right to payment is earned under a contract right. Money, checks and the like are ‘cash proceeds’.”
Poteau State Bank v. Denwalt, 597 P.2d 756 (Okla. 1979). · cites it 2× “If so, then the security interest she had in that collateral as an individual did not survive the sale under 12A O.S.1971 § 9-306(2). We resolve the issue by an affirmative answer and hold the interest in question was released with the transfer as a matter of law.”
In Re Boyd, 658 P.2d 470 (Okla. 1983). · cites it 5× “00) payment made by Allstate Insurance Company to the debtors is proceeds as defined in 12A O.S. 1971, § 9-306 of the Oklahoma Uniform Commercial Code and subject to the defendant's security interest.”
First Bank of Okarche v. Lepak, 1998 OK 46 (Okla. 1998). · cites it 3× “is a strict liability statute that prevents any common law defenses from being raised, specifically the defense of waiver through implied authorization under 12A O.S. § 9-306(2). ¶ 2 We find that the federal Food Security Act did not preempt the common law *196 defenses and that…”
Fairview State Bank v. Edwards, 739 P.2d 994 (Okla. 1987). · cites it 3× “Under 12A O.S.Supp.1984 § 9-306(1), “proceeds” includes whatever is received upon the sale, exchange, collection or other disposition of collateral or proceeds.”
Fed. Deposit Ins. v. Hastie, 2 F.3d 1042 (10th Cir. 1993). · cites it 4× “The bankruptcy court granted summary judgment in favor of Mr. Hastie, holding FDIC’s security interest in the dividends was not perfected.”
Adams v. City Nat'l Bank &Trust Co. of Norman, 565 P.2d 26 (Okla. 1977). “Bank argues its security interest remained in the Ford despite its sale to Adams, pointing to 12A O.S.1971 §§ 9-306(2) and 9-307. § 9-306(2) states: “(2) Except where this Article otherwise provides, a security interest continues in collateral notwithstanding sale, exchange or…”
Show all 21 citing cases →
— Okla. Stat. tit. 12A, § 9-306(1) — 6 cases
Fid. Fin. Servs. v. Blaser, 889 P.2d 268 (Okla. 1994). “*270 Trader's noted that 12A O.S. 1991 § 9-306 [1] provides that insurance payments are "proceeds" and that the section provides only for continuance of a security interest in proceeds.”
In Re Boyd, 658 P.2d 470 (Okla. 1983). “00) payment made by Allstate Insurance Company to the debtors is proceeds as defined in 12A O.S. 1971, § 9-306 of the Oklahoma Uniform Commercial Code and subject to the defendant's security interest.”
Fairview State Bank v. Edwards, 739 P.2d 994 (Okla. 1987). “Under 12A O.S.Supp.1984 § 9-306(1), “proceeds” includes whatever is received upon the sale, exchange, collection or other disposition of collateral or proceeds.”
Fed. Deposit Ins. v. Hastie, 2 F.3d 1042 (10th Cir. 1993). “The bankruptcy court granted summary judgment in favor of Mr. Hastie, holding FDIC’s security interest in the dividends was not perfected.”
Textron Fin. Corp. v. Rebel Rents, Inc. (In Re Rebel Rents, Inc.), 307 B.R. 171 (Bankr. C.D. Cal. 2004).
— Okla. Stat. tit. 12A, § 9-306(2) — 12 cases
Shebester v. Triple Crown Insurers, 826 P.2d 603 (Okla. 1992). “even though such insurance payments may be made by third party tortfeasors or their insurers, except to the extent that it is payable to a person other than a party to the security agreement.”
The First Nat'l Bank & Trust Co. of Oklahoma City, Plaintiff v. Iowa Beef Processors, Inc., 626 F.2d 764 (1st Cir. 1980). “It ruled the bank had given express consent to the sale, which cut off any continuing security interest in the collateral pursuant to Okla.Stat.Ann. tit. 12A, § 9-306(2) (West 1963).”
Poteau State Bank v. Denwalt, 597 P.2d 756 (Okla. 1979). “If so, then the security interest she had in that collateral as an individual did not survive the sale under 12A O.S.1971 § 9-306(2). We resolve the issue by an affirmative answer and hold the interest in question was released with the transfer as a matter of law.”
First Bank of Okarche v. Lepak, 1998 OK 46 (Okla. 1998). “is a strict liability statute that prevents any common law defenses from being raised, specifically the defense of waiver through implied authorization under 12A O.S. § 9-306(2). ¶ 2 We find that the federal Food Security Act did not preempt the common law *196 defenses and that…”
North Texas Prod. Credit Ass'n v. McCurtain Cnty. Nat'l Bank, 222 F.3d 800 (10th Cir. 2000). “Comment 2(c) to Okla. Stat. Ann. tit. 12A, § 9-306 provides that “[w]here cash proceeds are covered into the debtor’s checking account and paid out in the operation of the debtor’s business, recipients of the funds of course take free of any claim which the secured party may…”
— Okla. Stat. tit. 12A, § 9-306(3) — 3 cases
In Re Boyd, 658 P.2d 470 (Okla. 1983). “00) payment made by Allstate Insurance Company to the debtors is proceeds as defined in 12A O.S. 1971, § 9-306 of the Oklahoma Uniform Commercial Code and subject to the defendant's security interest.”
United States v. One 1982 Oldsmobile Cutlass VD 1GAM47A4CM453310, 709 F. Supp. 1542 (W.D. Okla. 1989).
Jarboe v. First Nat'l Bank of Pryor, 658 P.2d 470 (Okla. 1983).
— Okla. Stat. tit. 12A, § 9-306(4) — 1 case
Fed. Deposit Ins. v. Hastie, 2 F.3d 1042 (10th Cir. 1993). “The bankruptcy court granted summary judgment in favor of Mr. Hastie, holding FDIC’s security interest in the dividends was not perfected.”
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