Oklahoma § 4-201.9 - Prohibition of waiver, relinquishment, or release of

§ 4-201.9. Prohibition of waiver, relinquishment, or release of

lien.

No livestock owner shall be required, as a condition or term of

an agreement to sell or otherwise, to waive, relinquish or release

any owner’s lien or any rights under this act other than upon

payment in full of the sales price or agree to any provision that

would apply the law of any state other than this state insofar as

the same relates to rights under this act, and any such purported

waiver, relinquishment, release, or provision shall be void as a

matter of the public policy of this state. Provided, however, any

livestock owner or sales agent acting on behalf of a livestock

owner, may waive, relinquish or release any owner’s lien or any

rights under this act or agree to a provision that would apply the

law of any state other than this state insofar as the same relates

to rights under this act provided the first purchaser either:

1. Posts a letter of credit in form and amount satisfactory to

the livestock owner or sales agent; or

2. Agrees to a binding contractual arrangement satisfactory in

form and substance to the livestock owner or sales agent to prepay

or escrow the sales price under an agreement to sell in form and

substance satisfactory to the livestock owner and performs all of

the first purchaser’s obligations thereunder.

Added by Laws 2011, c. 123, § 10, eff. Nov. 1, 2011.