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28	28	STATE OF OKLAHOMA
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30	30	1st Session of the 59th Legislature (2023)
31	31
32	32	HOUSE BILL 1848 By: Kerbs
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38	38	AS INTRODUCED
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40	40	An Act relating to the Uniform Commercial Code;
41	41	amending 12A O.S. 2021, Section 1 -9-320.6, as amended
42	42	by Section 1, Chapter 109, O.S.L. 20 22 (12A O.S.
43	43	Supp. 2022, Section 1-9-320.6) which relates to
44	44	central filing system for farm products; requiring
45	45	certain information related to identit y of debtors;
46	46	and providing an effective date .
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54	54	BE IT ENACTED BY THE PEOPLE OF THE STATE OF O KLAHOMA:
55	55	SECTION 1. AMENDATORY 12 A O.S. 2021, Section 1 -9-320.6,
56	56	as amended by Section 1, Chap ter 109, O.S.L. 2022 (12A O.S. Supp.
57	57	2022, Section 1-9-320.6), is amended to read as follows:
58	58	Section 1-9-320.6 CENTRAL FILING SYSTEM R ELATING TO FARM
59	59	PRODUCTS
60	60	(1) The Secretary of State shall be responsible for developing
61	61	and implementing the central filing system. This responsibility
62	62	shall include obtaining the necessary certification for the system
63	63	from the United States Department o f Agriculture ("USDA"). The
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90	90	effective date for the implementation of the central filing system
91	91	was October 24, 1988.
92	92	(2) The Secretary of State may promulgate, in accordance with
93	93	the applicable provisions of the Administrative Procedures Act,
94	94	appropriate rules for the implementation and operation of the
95	95	central filing system.
96	96	(3) The Office of Management and Enterprise Services shall
97	97	assist the Secretary of State in developing and implementing the
98	98	central filing system.
99	99	(4) The central filing system sha ll conform to the following
100	100	requirements:
101	101	(a) The Secretary of State shall record the date and hour
102	102	of the filing of each effective financing statement;
103	103	(b) The Secretary of State shall compile all effective
104	104	financing statements into a master list:
105	105	(i) organized according to farm products;
106	106	(ii) arranged within each such product:
107	107	(A) in alphabetical order according to the last
108	108	name of the individual debtors or, in the
109	109	case of debtors doing business other than as
110	110	individuals, the first word in the name of
111	111	the debtors;
112	112	(B) in numerical order according to the Social
113	113	Security number of the individual debtors
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140	140	or, in the case of debtors doing business
141	141	other than as individuals, the Internal
142	142	Revenue Service taxpayer identification
143	143	number of the debtors;
144	144	(C) geographically by county produced; and
145	145	(D) by crop year; and
146	146	(iii) containing the information provided for in
147	147	subparagraph (iv) of paragraph (d) of Section 1 -
148	148	9-320.2 of this title;
149	149	(iv) portions of the master list shall be available in
150	150	hard copy, electronic for mats, or via Internet
151	151	download, and may be organized by other sorting
152	152	methods in addition to the methods listed above.
153	153	The lien search database shall allow for the
154	154	search of at least the last six (6) digits of a
155	155	Social Security number or shall create a uni que
156	156	identifying number for individuals in the
157	157	database.
158	158	(c) The Secretary of State shall maintain records of all
159	159	buyers of farm products, commission merchants, selling
160	160	agents and others who register with the Secretary of
161	161	State, on a form containing:
162	162	(i) the name and address of each registrant;
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189	189	(ii) the information on the farm product or products
190	190	that the registrant is requesting;
191	191	(iii) the name of each county where the product is
192	192	produced or to be produced, or a blanket code
193	193	covering all seventy -seven (77) counties of this
194	194	state; and
195	195	(iv) an authorized signature.
196	196	(d) (i) A copy of those portions of the master list
197	197	covering the information requested by a
198	198	registrant shall be distributed to such
199	199	registrants by the Secretary of State on or
200	200	before the last busine ss day of each month and
201	201	shall be presumed to have been receiv ed by the
202	202	third business day of the following month.
203	203	(ii) Registrants shall be deemed to be registered only
204	204	as to those portions of the master list for which
205	205	they register, and shall be deemed to h ave failed
206	206	to register and shall not be considered to be
207	207	registrants as to those portions for which they
208	208	do not register.
209	209	(iii) Registrants are subject only to se curity
210	210	interests shown on the portions of the master
211	211	list which they receive as a consequence of
212	212	registration with the Secretary of State.
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239	239	(iv) If a particular security interest is shown on the
240	240	master list, but was included since the last
241	241	regular distribution of portions of the master
242	242	list to registrants, registrants shall not be
243	243	subject to that security interest;
244	244	(e) The duration of the registration with the Secretary of
245	245	State of a buyer of farm products, commission
246	246	merchant, selling agent or other registr ant shall be
247	247	one (1) year from the effective date of the
248	248	registration with the Secretary of St ate.
249	249	(f) (i) Upon request, within twenty -four (24) hours of
250	250	any inquiry, for information, the Secretary of
251	251	State shall provide verbal confirmation of the
252	252	existence or nonexistence of any effective
253	253	financing statement on file. By the close of the
254	254	business day following the day on which the
255	255	request was received, wr itten confirmation of the
256	256	existence of an effective financing statement
257	257	will be provided to buyers of f arm products,
258	258	commission merchants, and selling agents who have
259	259	not registered, and others who request it.
260	260	(ii) The state or political subdivision shall not be
261	261	liable if a loss or claim results from any
262	262	confirmation of the existence or nonexistence of
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289	289	any effective financing statement on file in the
290	290	Office of the Secretary of State made in good
291	291	faith by an employee of the Office of the
292	292	Secretary of State a s required by the provisions
293	293	of this section.
294	294	(5) The filing in the office of the Secretary of State u nder
295	295	this section shall be in addition to the filing requirements
296	296	provided for in this article .
297	297	(6) A financing or continuation statement covering farm
298	298	products that has not lapsed and which was filed pursuant to this
299	299	title between December 23, 1986, and October 24, 1988, inclusive,
300	300	and for which no written notice was furnished as provided in Sect ion
301	301	1-9-320.7 of this title, shall become ineffective as to a buyer of
302	302	farm products, commission merchant or selling agent, unless the
303	303	secured party files an effe ctive financing statement in the office
304	304	of the Secretary of State.
305	305	(7) An effective financing statement shall not be deemed filed
306	306	in accordance with the provisions of this section until all fees
307	307	authorized by Section 111 of Title 28 of the Oklahoma Statut es
308	308	relating to the filing of the statement are tendered to the
309	309	Secretary of State.
310	310	(8) The secured party shall file a termination statement within
311	311	twenty (20) days after there is no outstanding secured obligation
312	312	or commitment to make advances, incur obl igations or otherwise give
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339	339	value. The secured party shall not be required to file a
340	340	termination statement if the debtor, in writing, addressed to the
341	341	secured party, requests that a termination not be filed. The
342	342	request shall be signed by the debtor or an authorized
343	343	representative and the request may be made at any time prior to the
344	344	expiration date of an effective financing statement set forth
345	345	herein. If the affected secured party fails to file a termination
346	346	statement as required by this subsection, the p arty shall be liable
347	347	to the Secretary of State for Five Hundred Dollars ($500.00). In
348	348	addition the affected secured party shall be liable to the debtor
349	349	for any loss caused to the debtor by the failure to terminate the
350	350	effective financing statement.
351	351	(9) The Attorney General shall be responsible for enforcing the
352	352	provisions of subsection (8) of thi s section on behalf of the
353	353	Secretary of State and is author ized to take appropriate actions to
354	354	collect any penalties owed to the Secretary of State pursuant to
355	355	subsection (8) of this section. When collected, the Attorney
356	356	General shall cause the penalty to be deposited into the Central
357	357	Filing System Revolving Fund created pursuant to Section 276.3 of
358	358	Title 62 of the Oklahoma Statutes.
359	359	SECTION 2. This act shall become effective November 1, 2023.
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361	361	59-1-5723 MAH 01/12/23

Oklahoma 2023 Regular Session

Oklahoma House Bill HB1848 Compare Versions