§12A-9-307.2.

§12A-9-307.2.
   
             Definitions; Requisites of an Effective Financing
                                      
                          Statement; Presumption.
                                      
   (1) As used in this section and Sections 3 through 8 of this act:
   
   (a) "Buyer in the ordinary course of business" means a person who, in
   the ordinary course of business, buys farm products from a person
   engaged in farming operations who is in the business of selling farm
   products.
   
   (b) "Central filing system" means a system for filing effective
   financing statements or notice of such financing statements on a
   statewide basis and which has been certified by the Secretary of the
   United States Department of Agriculture.
   
   (c) "Commission merchant" means any person engaged in the business of
   receiving any farm product for sale, on commission, or for or on
   behalf of another person.
   
   (d) "Effective financing statement" means a statement that:
   
   (i) is an original or reproduced copy thereof;
   
   (ii) is signed and filed with the Secretary of State by the secured
   party;
   
   (iii) is signed by the debtor;
   
   (iv) contains:
   
   (A) the name and address of the secured party,
   
   (B) the name and address of the person indebted to the secured party,
   
   (C) the social security number of the debtor or, in the case of a
   debtor doing business other than as an individual, the Internal
   Revenue Service taxpayer identification number of such debtor, and
   
   (D) a description of the farm products subject to the security
   interest created by the debtor, including the amount of such products
   where applicable; and a reasonable description of the property,
   including the name of the county in which the property is located and
   the crop year, if applicable;
   
   (v) must be amended in writing, within three (3) months, similarly
   signed and filed, to reflect material changes;
   
   (vi) remains effective for a period of five (5) years from the date of
   filing, subject to extensions for additional periods of five (5) years
   each by refiling or filing a continuation statement within six (6)
   months before the expiration of the initial five-year period;
   
   (vii) lapses on either the expiration of the effective period of the
   statement or the filing of a notice signed by the secured party that
   the statement has lapsed, whichever occurs first;
   
   (viii) is accompanied by the requisite filing fee provided for in
   Section 111 of Title 28 of the Oklahoma Statutes; and
   
   (ix) substantially complies with the requirements of this paragraph
   even though it contains minor errors that are not seriously
   misleading.
   
   An effective financing statement may reflect multiple products or
   products in multiple counties.
   
   (e) "Farm product" means an agricultural commodity such as wheat,
   corn, soybeans, or a species of livestock such as cattle, hogs, sheep,
   horses, or poultry used or produced in farming operations, or a
   product of such crop or livestock in its unmanufactured state (such as
   ginned cotton, wool-clip, maple syrup, milk, and eggs), that is in the
   possession of a person engaged in farming operations.
   
   (f) "Knows" or "knowledge" means actual knowledge.
   
   (g) "Person" means any individual, partnership, corporation, trust, or
   any other business entity.
   
   (h) "Security interest" means an interest in farm products that
   secures payment or performance of an obligation. (i) "Selling agent"
   means any person, other than a commission merchant, who is engaged in
   the business of negotiating the sale and purchase of any farm product
   on behalf of a person engaged in farming operations.
   
   (2) Unless otherwise provided for in this act, for purposes of this
   section and Sections 4 and 6 of this act, receipt of notice shall be
   presumed if notice is sent by first-class mail, postage prepaid.