421 N.W. 13
ST., SUITE 210, OKLAHOMA CITY, OK 73103 • (405) 521-3912
Section 1-9-320.6 of Title 12A of the Oklahoma Statutes states:
(8) The secured party shall file a termination statement within twenty (20) days after there is no
outstanding secured obligation or commitment to make advances, incur obligations or otherwise give
value. The secured party shall not be required to file a termination statement if the debtor, in writing,
addressed to the secured party, requests that a termination statement not be filed. The request shall
be signed by the debtor or an authorized representative and the request may be made at any time
prior to the expiration date of an effective financing statement set forth herein. If the affected secured
party fails to file a termination statement as required by this subsection, the party shall be liable to
the Secretary of State for Five Hundred Dollars ($500.00). In addition the affected secured party
shall be liable to the debtor for any loss caused to the debtor by failure to terminate the effective
financing statement.
(9) The Attorney General shall be responsible for enforcing the provisions of subsection (8) of this
section on behalf of the Secretary of State and is authorized to take appropriate actions to collect any
penalties owed to the Secretary of State pursuant to subsection (8) of this section. When collected, the
Attorney General shall cause the penalty to be deposited into the Central Filing System Revolving
Fund created pursuant to Section 276.3 of Title 62 of the Oklahoma Statutes.
As a debtor affected by the above statute, I did not knowingly submit a request in writing to the
secured party that a termination not be filed when my agricultural lien was repaid. I have repaid
all liens secured with agricultural products more than 20 days ago. I would like to request the
enforcement of 12A O.S., §1-9-320.6 sanctions against the secured party.
Signed: ___________________________________________________ Date: __________________
Debtor: Name: _____________________________________________________________
Address: _____________________________________________________________
City: _____________________________________________________________
State: _____________________________________________________________
Phone: _____________________________________________________________
Description of Collateral: _____________________________________________________________
Secured Party: Name: _____________________________________________________________
Address: _____________________________________________________________
City: _____________________________________________________________
State: _____________________________________________________________
Phone: _____________________________________________________________