§12A-9-403.

§12A-9-403.
   
   Acts Constituting Filing - Term of Filing - Effect - Continuation
   Statement - Duty of Filing Officer - Fees.
   
   (1) Presentation for filing of a financing statement and tender of the
   filing fee or acceptance of the statement by the filing officer
   constitutes filing under this article.
   
   (2) Except as provided in subsection (6) and the first two sentences
   of subsection (7) of this section, a filed financing statement is
   effective for a period of five (5) years from the date of filing. The
   effectiveness of a filed financing statement lapses on the expiration
   of the five-year period unless a continuation statement is filed prior
   to the lapse. If a security interest perfected by filing exists at the
   time insolvency proceedings are commenced by or against the debtor,
   the security interest remains perfected until termination of the
   insolvency proceedings and thereafter for a period of sixty (60) days
   or until expiration of the five-year period, whichever occurs later.
   Upon lapse the security interest becomes unperfected, unless it is
   perfected without filing. If the security interest becomes unperfected
   upon lapse, it is deemed to have been unperfected as against a person
   who became a purchaser or lien creditor before lapse.
   
   (3) A continuation statement may be filed by the secured party within
   six (6) months prior to the expiration of the five-year period
   specified in subsection (2) of this section. Any such continuation
   statement must be signed by the secured party, identify the original
   statement by file number and state that the original statement is
   still effective. A continuation statement signed by a person other
   than the secured party of record must be accompanied by a separate
   written statement of assignment signed by the secured party of record
   and complying with subsection (2) of Section 9-405 of this title,
   including payment of the required fee. Upon timely filing of the
   continuation statement, the effectiveness of the original statement is
   continued for five (5) years after the last date to which the filing
   was effective whereupon it lapses in the same manner as provided in
   subsection (2) of this section unless another continuation statement
   is filed prior to such lapse. Succeeding continuation statements may
   be filed in the same manner to continue the effectiveness of the
   original statement. Unless a statute on disposition of public records
   provides otherwise, the filing officer may remove a lapsed statement
   from the files and destroy it immediately if he has retained a
   microfilm or other photographic record, or in other cases after one
   (1) year after the lapse. The filing officer shall so arrange matters
   by physical annexation of financing statements to continuation
   statements or other related filings, or by other means, that if he
   physically destroys the financing statements of a period more than
   five (5) years past, those which have been continued by a continuation
   statement or which are still effective under subsection (6) of this
   section shall be retained.
   
   (4) Except as provided in subsection (7) of this section a filing
   officer shall mark each statement with a file number and with the date
   and hour of filing and shall hold the statement or a microfilm or
   other photographic copy thereof for public inspection. In addition the
   filing officer shall index the statements according to the name of the
   debtor and shall note in the index the file number and the address of
   the debtor given in the statement.
   
   (5) The uniform fee for the county clerk for filing and indexing and
   for stamping a copy furnished by the secured party to show the date
   and place of filing for an original financing statement or for a
   continuation statement shall be as provided in Section 32 of Title 28
   of the Oklahoma Statutes, which shall include the cost of filing a
   termination statement and a statement of release. The fees for the
   office of the Secretary of State for filing and processing an
   effective financing statement, and documents relating thereto, as
   provided for in Section 6 of this act, shall be as provided in Section
   111 of Title 28 of the Oklahoma Statutes.
   
   (6) If the debtor is a transmitting utility, subsection (5) of Section
   9-401 of this title, and a filed financing statement so states, it is
   effective until a termination statement is filed. A real estate
   mortgage which is effective as a fixture filing under subsection (6)
   of Section 9-402 of this title remains effective as a fixture filing
   until the mortgage is released or satisfied of record or its
   effectiveness otherwise terminates as to the real estate.
   
   (7) When a writing constituting a mortgage upon lands, or interests in
   lands such as oil and gas leasehold estates, also covers minerals to
   be severed from such lands, equipment used in mining, storing,
   treating and marketing such minerals and the accounts and proceeds to
   be derived from disposition of such minerals contains a legal
   description of such lands sufficient to comply with Sections 287, 291
   and 298 of Title 19 of the Oklahoma Statutes has been validly
   executed, acknowledged and recorded in the office of the county clerk
   for the county in which such lands are located, such mortgage shall
   constitute a financing statement covering such collateral and no other
   filing or recording shall be required to perfect the security
   interests in such collateral covered by the mortgage. The mortgage
   shall remain effective to perfect such security interests until it
   shall be released or satisfied of record or its effectiveness as to
   the lands or interests in lands described therein shall be otherwise
   effectively terminated. When a financing statement covers timber to be
   cut or covers minerals or the like, including oil and gas, or accounts
   subject to subsection (5) of Section 9-103.1 of this title, or is
   filed as a fixture filing, and is not a mortgage as set out in the
   first sentence of this subsection, it shall be filed as provided in
   subsection (2) of Section 9-401A of this title even though it does not
   comply with the execution and acknowledgement requirements of Sections
   15, 26, 93, 94, or 95 of Title 16 of the Oklahoma Statutes, as
   amended, or other statutes, if any, of like import that would impose
   requirements beyond those of the kind encompassed in this title.