§12A-9-307.

§12A-9-307.
   
   (1) A buyer in the ordinary course of business other than a person
   buying livestock from a person engaged in farming or ranching
   operations, hereinafter referred to as the seller for thepurposes of
   this section, takes free of a security interest created by the seller
   even though the security interest is perfected and even though the
   buyer knows of its existence.
   
   (2) A buyer other than a buyer in the ordinary course of business
   takes free of a security interest to the extent that it secures future
   advances made after the secured party acquires knowledge of the
   purchase or more than forty-five (45) days after the purchase,
   whichever first occurs, unless made pursuant to a commitment entered
   into without knowledge of the purchase and before the expiration of
   the forty-five-day period.
   
   (3) (a) Before issuing an instrument in payment for farm products
   other than livestock, a merchant purchasing such products from a
   seller or a commission merchant selling such products as an agent for
   a seller shall require said seller to execute a certificate disclosing
   the names of all lenders, if any, to whom security interests have been
   given in such farm products. If no such security interests exist, the
   certificate shall so state. The certificate shall include a warning
   that any false statement as to the identity of the lenders is a felony
   and is punishable by imprisonment in the state penitentiary for a
   period not to exceed three (3) years or in the county jail for a
   period not to exceed one (1) year, or by a fine not to exceed Five
   Hundred Dollars ($500.00). The certificate shall be substantially in
   the following form:
   
   STATE OF ______________)
   
   ) SS:
   
   COUNTY OF _____________)
   
   The undersigned is the legal owner of the farm products being sold to
   (through)__________________________("Merchant") and hereby states that
   the following listed lender or lenders have been given a security
   interest(s) in such farm products:
   
   _____________________________________________________________
   
   _____________________________________________________________
   
   _____________________________________________________________
   
   WARNING: ANY UNTRUE STATEMENT AS TO THE IDENTIFICATION OF SUCH LENDERS
   IS A FELONY UNDER OKLAHOMA LAW AND IS PUNISHABLE BY IMPRISONMENT IN
   THE PENITENTIARY FOR A PERIOD NOT EXCEEDING THREE (3) YEARS OR IN THE
   COUNTY JAIL NOT EXCEEDING ONE (1) YEAR, OR BY A FINE NOT TO EXCEED
   FIVE HUNDRED DOLLARS ($500.00).
   
   This form may be witnessed by the merchant or an agent of the merchant
   or it must be notarized by a notary public.
   
   SELLER:____________________________
   
   Print Name:________________________
   
   Signature:_________________________
   
   WITNESS:________________________________________________________
   
   Print Name:_________________________
   
   Signature:__________________________ OR
   
   Subscribed and sworn to before me this _______ day
   
   of ______________, 19__.
   
   ____________________________
   
   Notary Public
   
   My Commission Expires:
   
   ______________________
   
   (b) The merchant shall enter the names of the lenders disclosed in the
   certificate on the instrument in payment for the farm products as
   joint payees. The endorsement of said lenders and the seller shall be
   required to negotiate said instrument. The instrument shall be issued
   as the net purchase price for payment for the farm products.
   
   (c) Any false statement as to the identity of the lenders shall be
   deemed to be a violation of Section 1834 of Title 21 of the Oklahoma
   Statutes.
   
   (d) The merchant shall retain the certificate for a period of at least
   three (3) years. Such certificates shall be made available to such
   lenders during the regular business hours of such merchant.
   
   (e) Any merchant purchasing farm products other than livestock from a
   seller, or selling such farm products for a fee or commission for a
   seller, who does not comply with the provisions of this section is
   liable to the secured party for any loss sustained by such party from
   the sale of the farm products when payment is made by the merchant to
   the seller. In such situation, the merchant takes the farm products
   subject to any perfected security interest which may exist in such
   farm products.