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Part 3 PERFECTION AND PRIORITY

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Subpart 1 LAW GOVERNING PERFECTION AND PRIORITY
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Except as otherwise provided with respect to goods covered by a certificate of title (27A ONC § 9-303), the following rules determine the law governing perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:

A. Except as otherwise provided in this section, the law of this Osage Nation governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in collateral:

1. If the security interest is created pursuant to this Osage Nation Secured Transactions Act;

2. From the time that the debtor becomes subject to the jurisdiction of the Osage Nation (27A ONC § 9-316(D) and (E)); or

3. From the time that the collateral is transferred to a person that thereby becomes a debtor and is subject to the jurisdiction of the Osage Nation.

B. Except as provided in subsection (C) of this section, while goods are located in a jurisdiction, the local law of that jurisdiction governs:

1. Perfection of a security interest in the goods by filing a fixture filing; and

2. Perfection of a security interest in timber to be cut.

C. The local law of the jurisdiction in which the wellhead or mine head is located governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in as-extracted collateral.

D. This section does not determine the law governing matters not expressly referred to herein, including attachment, validity, characterization, and enforcement. ONCA 07-22, eff. June 18, 2007.