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2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-503. Property Interest of Entitlement Holder in Financial Asset Held by Securities Intermediary.

Property Interest of Entitlement Holder in Financial Asset Held by Securities Intermediary.
(a) To the extent necessary for a securities intermediary to satisfy all security entitlements with respect to a particular financial asset, all interests in that financial asset held by the securities intermediary are held by the securities intermediary for the entitlement holders, are not property of the securities intermediary, and are not subject to claims of creditors of the securities intermediary, except as otherwise provided in Section 8-511 of this title.
(b) An entitlement holder's property interest with respect to a particular financial asset under subsection (a) of this section is a pro rata property interest in all interests in that financial asset held by the securities intermediary, without regard to the time the entitlement holder acquired the security entitlement or the time the securities intermediary acquired the interest in that financial asset.
(c) An entitlement holder's property interest with respect to a particular financial asset under subsection (a) of this section may be enforced against the securities intermediary only by exercise of the entitlement holder's rights under Sections 8-505 through 8-508 of this title.
(d) An entitlement holder's property interest with respect to a particular financial asset under subsection (a) of this section may be enforced against a purchaser of the financial asset or interest therein only if:
(1)
insolvency proceedings have been initiated by or against the securities intermediary;
(2)
the securities intermediary does not have sufficient interests in the financial asset to satisfy the security entitlements of all of its entitlement holders to that financial asset;
(3)
the securities intermediary violated its obligations under Section 8-504 of this title by transferring the financial asset or interest therein to the purchaser; and
(4)
the purchaser is not protected under subsection (e) of this section.
The trustee or other liquidator, acting on behalf of all entitlement holders having security entitlements with respect to a particular financial asset, may recover the financial asset, or interest therein, from the purchaser. If the trustee or other liquidator elects not to pursue that right, an entitlement holder whose security entitlement remains unsatisfied has the right to recover its interest in the financial asset from the purchaser.
(e) An action based on the entitlement holder's property interest with respect to a particular financial asset under subsection (a) of this section, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against any purchaser of a financial asset or interest therein who gives value, obtains control, and does not act in collusion with the securities intermediary in violating the securities intermediary's obligations under Section 8-504 of this title.
Added by Laws 1995, c. 242, § 43, eff. Feb. 1, 1996.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-504. Duty of Securities Intermediary to Maintain Financial Asset.

Duty of Securities Intermediary to Maintain Financial Asset.
(a) A securities intermediary shall promptly obtain and thereafter maintain a financial asset in a quantity corresponding to the aggregate of all security entitlements it has established in favor of its entitlement holders with respect to that financial asset. The securities intermediary may maintain those financial assets directly or through one or more other securities intermediaries.
(b) Except to the extent otherwise agreed by its entitlement holder, a securities intermediary may not grant any security interests in a financial asset it is obligated to maintain pursuant to subsection (a) of this section.
(c) A securities intermediary satisfies the duty in subsection (a) of this section if:
(1)
the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or
(2)
in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to obtain and maintain the financial asset.
(d) This section does not apply to a clearing corporation that is itself the obligor of an option or similar obligation to which its entitlement holders have security entitlements.
Added by Laws 1995, c. 242, § 44, eff. Feb. 1, 1996.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-505. Duty of Securities Intermediary with Respect to Payments and Distributions.

Duty of Securities Intermediary with Respect to Payments and Distributions.
(a) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities intermediary satisfies the duty if:
(1)
the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or
(2)
in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to attempt to obtain the payment or distribution.
(b) A securities intermediary is obligated to its entitlement holder for a payment or distribution made by the issuer of a financial asset if the payment or distribution is received by the securities intermediary.
Added by Laws 1995, c. 242, § 45, eff. Feb. 1, 1996.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-506. Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder.

Duty of Securities Intermediary to Exercise Rights as Directed by Entitlement Holder.
A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. A securities intermediary satisfies the duty if:
(1)
the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or
(2)
in the absence of agreement, the securities intermediary either places the entitlement holder in a position to exercise the rights directly or exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.
Added by Laws 1995, c. 242, § 46, eff. Feb. 1, 1996.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-507. Duty of Securities Intermediary to Comply with Entitlement Order.

Duty of Securities Intermediary to Comply with Entitlement Order.
(a) A securities intermediary shall comply with an entitlement order if the entitlement order is originated by the appropriate person, the securities intermediary has had reasonable opportunity to assure itself that the entitlement order is genuine and authorized, and the securities intermediary has had reasonable opportunity to comply with the entitlement order. A securities intermediary satisfies the duty if:
(1)
the securities intermediary acts with respect to the duty as agreed upon by the entitlement holder and the securities intermediary; or
(2)
in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to comply with the entitlement order.
(b) If a securities intermediary transfers a financial asset pursuant to an ineffective entitlement order, the securities intermediary shall reestablish a security entitlement in favor of the person entitled to it, and pay or credit any payments or distributions that the person did not receive as a result of the wrongful transfer. If the securities intermediary does not reestablish a security entitlement, the securities intermediary is liable to the entitlement holder for damages.
Added by Laws 1995, c. 242, § 47, eff. Feb. 1, 1996.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-508. Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Forms of Security Holding.

Duty of Securities Intermediary to Change Entitlement Holder's Position to Other Forms of Security Holding.
A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding for which the entitlement holder is eligible, or to cause the financial asset to be transferred to a securities account of the entitlement holder with another securities intermediary. A securities intermediary satisfies the duty if:
(1)
the securities intermediary acts as agreed upon by the entitlement holder and the securities intermediary; or
(2)
in the absence of agreement, the securities intermediary exercises due care in accordance with reasonable commercial standards to follow the direction of the entitlement holder.
Added by Laws 1995, c. 242, § 48, eff. Feb. 1, 1996.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-509. Specification of Duties of Securities Intermediary by Other Statute or Regulation; Manner of Performance of Duties of Securities Intermediary and Exercise of Rights of Entitlement Holder.

Specification of Duties of Securities Intermediary by Other Statute or Regulation; Manner of Performance of Duties of Securities Intermediary and Exercise of Rights of Entitlement Holder.
(a) If the substance of a duty imposed upon a securities intermediary by Sections 8-504 through 8-508 of this title is the subject of other statute, regulation, or rule, compliance with that statute, regulation, or rule satisfies the duty.
(b) To the extent that specific standards for the performance of the duties of a securities intermediary or the exercise of the rights of an entitlement holder are not specified by other statute, regulation, or rule or by agreement between the securities intermediary and entitlement holder, the securities intermediary shall perform its duties and the entitlement holder shall exercise its rights in a commercially reasonable manner.
(c) The obligation of a securities intermediary to perform the duties imposed by Sections 8-504 through 8-508 of this title is subject to:
(1)
rights of the securities intermediary arising out of a security interest under a security agreement with the entitlement holder or otherwise; and
(2)
rights of the securities intermediary under other law, regulation, rule, or agreement to withhold performance of its duties as a result of unfulfilled obligations of the entitlement holder to the securities intermediary.
(d) Sections 8-504 through 8-508 of this title do not require a securities intermediary to take any action that is prohibited by other statute, regulation, or rule.
Added by Laws 1995, c. 242, § 49, eff. Feb. 1, 1996.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-510. Rights of Purchaser of Security Entitlement from Entitlement Holder.

Rights of Purchaser of Security Entitlement from Entitlement Holder.
(a) In a case not covered by the priority rules in Article 9 or the rules stated in subsection (c), an action based on an adverse claim to a financial asset or security entitlement, whether framed in conversion, replevin, constructive trust, equitable lien, or other theory, may not be asserted against a person who purchases a security entitlement, or an interest therein, from an entitlement holder if the purchaser gave value, does not have notice of the adverse claim, and obtains control.
(b) If an adverse claim could not have been asserted against an entitlement holder under Section 8-502 of this title, the adverse claim cannot be asserted against a person who purchases a security entitlement, or an interest therein, from the entitlement holder.
(c) In a case not covered by the priority rules in Article 9 of this code, a purchaser for value of a security entitlement, or an interest therein, who obtains control has priority over a purchaser of a security entitlement, or an interest therein, who does not obtain control. Except as otherwise provided in subsection (d) of this section, purchasers who have control rank according to priority in time of:
(1) the purchaser’s becoming the person for whom the securities account, in which the security entitlement is carried, is maintained, if the purchaser obtained control under paragraph (1) of subsection (d) of Section 8-106 of this title;
(2) the securities intermediary’s agreement to comply with the purchaser’s entitlement orders with respect to security entitlements carried or to be carried in the securities account in which the security entitlement is carried, if the purchaser obtained control under paragraph (2) of subsection (d) of Section 8-106 of this title; or
(3) if the purchaser obtained control through another person under paragraph (3) of subsection (d) of Section 8-106 of this title, the time on which priority would be based under this subsection if the other person were the secured party.
(d) A securities intermediary as purchaser has priority over a conflicting purchaser who has control unless otherwise agreed by the securities intermediary.
Added by Laws 1995, c. 242, § 50, eff. Feb. 1, 1996. Amended by Laws 2000, c. 371, § 166, eff. July 1, 2001.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-511. Priority Among Security Interests and Entitlement Holders.

Priority Among Security Interests and Entitlement Holders.
(a) Except as otherwise provided in subsections (b) and (c) of this section, if a securities intermediary does not have sufficient interests in a particular financial asset to satisfy both its obligations to entitlement holders who have security entitlements to that financial asset and its obligation to a creditor of the securities intermediary who has a security interest in that financial asset, the claims of entitlement holders, other than the creditor, have priority over the claim of the creditor.
(b) A claim of a creditor of a securities intermediary who has a security interest in a financial asset held by a securities intermediary has priority over claims of the securities intermediary's entitlement holders who have security entitlements with respect to that financial asset if the creditor has control over the financial asset.
(c) If a clearing corporation does not have sufficient financial assets to satisfy both its obligations to entitlement holders who have security entitlements with respect to a financial asset and its obligation to a creditor of the clearing corporation who has a security interest in that financial asset, the claim of the creditor has priority over the claims of entitlement holders.
Added by Laws 1995, c. 242, § 51, eff. Feb. 1, 1996.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-8-603. Savings clause.

A. This act does not affect an action or proceeding commenced before this act takes effect.
B. If a security interest in a security is perfected before this act takes effect, and the action by which the security interest was perfected would suffice to perfect a security interest under this act, no further action is required to continue perfection. If a security interest in a security is perfected before this act takes effect but the action by which the security interest was perfected would not suffice to perfect a security interest under this act, the security interest remains perfected for a period of four months after the effective date and continues perfected thereafter if appropriate action to perfect under this act is taken within that period. If a security interest is perfected before this act takes effect and the security interest can be perfected by filing under this act, a financing statement signed by the secured party instead of the debtor may be filed within that period to continue perfection or thereafter to perfect.
Added by Laws 1995, c. 242, § 69, eff. Feb. 1, 1996.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-11-101. Preservation of Old Transition Provision.

Preservation of Old Transition Provision. - The provisions of Section 10-103 of this title shall continue to apply to this act, and for this purpose, the U.C.C. prior to this act and after this act shall be considered one continuous statute.
Laws 1981, c. 194, § 39.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-11-102. Transition to This Act; General Rule.

Transition to This Act; General Rule. - Transactions validly entered into after December 31, 1962, and before October 1, 1981 and which were subject to the provisions of the U.C.C. prior to this act, and which would be subject to this act, as amended if they had been entered into after the effective date of this act and the rights, duties and interests flowing from such transactions remain valid after the latter date and may be terminated, completed, consummated or enforced as required or permitted by this act. Security interests arising out of such transactions which are perfected when this act becomes effective shall remain perfected until they lapse as provided herein, and may be continued as permitted by this act, except as stated in Section 11-104.
Laws 1981, c. 194, § 40.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-11-103. Transition Provision on Change of Requirement of Filing.

Transition Provision on Change of Requirement of Filing. - A security interest for the perfection of which filing or the taking of possession was required under the U.C.C. prior to this act and which attached prior to the effective date of this act but was not perfected shall be deemed perfected on the effective date of this act if this act permits perfection without filing or authorizes filing in the office or offices where a prior ineffective filing was made.
Laws 1981, c. 194, § 41.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-11-104. Transition Provision on Change of Place of Filing.

Transition Provision on Change of Place of Filing. -
(1) A financing statement or continuation statement filed prior to October 1, 1981, which shall not have lapsed prior to that date shall remain effective for the period provided in the unamended version of the U.C.C., but for not less than five (5) years after the filing.
(2) With respect to any collateral acquired by the debtor subsequent to the effective date of this act, any effective financing statement or continuation statement described in this section shall apply only if the filing or filings are in the office or offices that would be appropriate to perfect the security interests in the new collateral under the provisions of this act.
(3) The effectiveness of any financing statement or continuation statement filed prior to the effective date of this act may be continued by a continuation statement as permitted by this act, except that if this act requires a filing in an office where there was no previous financing statement, a new financing statement conforming to Section 11-105 shall be filed in that office.
(4) If the record of a mortgage of real estate would have been effective as a fixture filing of goods described therein if this act had been in effect on the date of recording the mortgage, the mortgage shall be deemed effective as a fixture filing as to such goods under subsection (6) of Section 9-402 of this act on October 1, 1981.
Laws 1981, c. 194, § 42.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-11-105. Required Refilings.

Required Refilings. - (1) If a security interest is perfected or has priority when this act takes effect as to all persons or as to certain persons without any filing or recording, and if the filing of a financing statement would be required for the perfection or priority of the security interest against those persons under this act, the perfection and priority rights of the security interest continue until three (3) years after the effective date of this act. The perfection will then lapse unless a financing statement is filed as provided in subsection (4) of this section or unless the security interest is perfected otherwise than by filing.
(2) If a security interest is perfected when this act takes effect under a law other than the U.C.C. prior to this act which requires no further filing, refiling or recording to continue its perfection, perfection continues until and will lapse three (3) years after this act takes effect, unless a financing statement is filed as provided in subsection (4) of this section or unless the security interest is perfected otherwise than by filing, or unless under subsection (3) of Section 9-302, the other law continues to govern filing.
(3) If a security interest is perfected by a filing, refiling or recording under a law repealed by this act which required further filing, refiling or recording to continue its perfection, perfection continues and will lapse on the date provided by the law so repealed for such further filing, refiling or recording unless a financing statement is filed as provided in subsection (4) of this section or unless the security interest is perfected otherwise than by filing.
(4) A financing statement may be filed within six (6) months before the perfection of a security interest would otherwise lapse. Any such financing statement may be signed by either the debtor or the secured party. It must identify the security agreement, statement or notice, however denominated in any statute or other law repealed or modified by this act, state the office where and the date when the last filing, refiling or recording, if any, was made with respect thereto, and the filing number, if any, or book and page, if any, of recording and further state that the security agreement, statement or notice, however denominated in another filing office under the U.C.C. prior to this act, or under any statute or other law repealed or modified by this act is still effective. Section 9-401 and Section 7 of this act determine the proper place to file such a financing statement. Except as specified in this subsection, the provisions of Section 9-403(3) for continuation statements apply to such a financing statement.
Laws 1981, c. 194, § 43.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-11-106. Transition Provisions as to Priorities.

Transition Provisions as to Priorities. - Except as otherwise provided in this article, the U.C.C. prior to this act shall apply to any questions of priority if the positions of the parties were fixed prior to the effective date of this act. In other cases questions of priority shall be determined by this act.
Laws 1981, c. 194, § 44.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-11-107. Presumption that Rule of Law Continues Unchanged.

Presumption that Rule of Law Continues Unchanged. - Unless a change in law has clearly been made, the provisions of this act shall be deemed declaratory of the meaning of the U.C.C. prior to this act.
Laws 1981, c. 194, § 45.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-103. Scope.

SCOPE
(a) Except as provided in subsection (b) of this section or as otherwise provided by law, this act applies to electronic records and electronic signatures relating to a transaction.
(b) This act does not apply to a transaction to the extent it is governed by:
(1) a law governing the creation and execution of wills, codicils, or testamentary trusts;
(2) the Uniform Commercial Code, other than Sections 1-107 and 1-206 of Title 12A of the Oklahoma Statutes and Article 2, and Article 2A of Title 12A of the Oklahoma Statutes;
(3) the Uniform Computer Information Transactions Act; and
(4) a consumer protection law of this state to the extent specified by rule by the Administrator of the Department of Consumer Credit as necessary to conform to existing federal requirements or to preserve existing consumer protection requirements.
(c) This act applies to an electronic record or electronic signature otherwise excluded from the application of this act under subsection (b) of this section to the extent it is governed by a law other than those specified in subsection (b) of this section.
(d) A transaction subject to this act is also subject to other applicable substantive law.
Added by Laws 2000, c. 372, § 3, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-105. Use of electronic records and electronic signatures; variation by agreement.

USE OF ELECTRONIC RECORDS AND ELECTRONIC SIGNATURES; VARIATION BY AGREEMENT
(a) This act does not require a record or signature to be created, generated, sent, communicated, received, stored, or otherwise processed or used by electronic means or in electronic form.
(b) This act applies only to transactions between parties each of which has agreed to conduct transactions by electronic means. Whether the parties agree to conduct a transaction by electronic means is determined from the context and surrounding circumstances, including the parties’ conduct.
(c) A party that agrees to conduct a transaction by electronic means may refuse to conduct other transactions by electronic means. The right granted by this subsection may not be waived by agreement.
(d) Except as otherwise provided in this act, the effect of any of its provisions may be varied by agreement. The presence in certain provisions of this act of the words “unless otherwise agreed”, or words of similar import, does not imply that the effect of other provisions may not be varied by agreement.
(e) Whether an electronic record or electronic signature has legal consequences is determined by this act and other applicable law.
Added by Laws 2000, c. 372, § 5, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-106. Construction and application

CONSTRUCTION AND APPLICATION
This act must be construed and applied:
(1) to facilitate electronic transactions consistent with other applicable law;
(2) to be consistent with reasonable practices concerning electronic transactions and with the continued expansion of those practices; and
(3) to effectuate its general purpose to make uniform the law with respect to the subject of this act among states enacting it.
Added by Laws 2000, c. 372, § 6, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-107. Legal recognition of electronic records, electronic signatures, and electronic contracts.

LEGAL RECOGNITION OF ELECTRONIC RECORDS, ELECTRONIC SIGNATURES, AND ELECTRONIC CONTRACTS
(a) A record or signature may not be denied legal effect or enforceability solely because it is in electronic form.
(b) A contract may not be denied legal effect or enforceability solely because an electronic record was used in its formation.
(c) If a law requires a record to be in writing, an electronic record satisfies the law.
(d) If a law requires a signature, an electronic signature satisfies the law.
Added by Laws 2000, c. 372, § 7, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-108. Provision of information in writing; presentation of records.

PROVISION OF INFORMATION IN WRITING; PRESENTATION OF RECORDS
(a) If parties have agreed to conduct a transaction by electronic means and a law requires a person to provide, send, or deliver information in writing to another person, the requirement is satisfied if the information is provided, sent, or delivered, as the case may be, in an electronic record capable of retention by the recipient at the time of receipt. An electronic record is not capable of retention by the recipient if the sender or its information processing system inhibits the ability of the recipient to print or store the electronic record.
(b) If a law other than this act requires a record (i) to be posted or displayed in a certain manner, (ii) to be sent, communicated, or transmitted by a specified method, or (iii) to contain information that is formatted in a certain manner, the following rules apply:
(1) The record must be posted or displayed in the manner specified in the other law;
(2) Except as otherwise provided in paragraph (2) of subsection (d) of this section, the record must be sent, communicated, or transmitted by the method specified in the other law; and
(3) The record must contain the information formatted in the manner specified in the other law.
(c) If a sender inhibits the ability of a recipient to store or print an electronic record, the electronic record is not enforceable against the recipient.
(d) The requirements of this section may not be varied by agreement, but:
(1) to the extent a law other than this act requires information to be provided, sent, or delivered in writing but permits that requirement to be varied by agreement, the requirement under subsection (a) of this section that the information be in the form of an electronic record capable of retention may also be varied by agreement; and
(2) a requirement under a law other than this act to send, communicate, or transmit a record by first-class mail, postage prepaid, or regular United States mail, may be varied by agreement to the extent permitted by the other law.
Added by Laws 2000, c. 372, § 8, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-109. Attribution and effect of electronic record and electronic signature.

ATTRIBUTION AND EFFECT OF ELECTRONIC RECORD AND ELECTRONIC SIGNATURE
(a) An electronic record or electronic signature is attributable to a person if it was the act of the person. The act of the person may be shown in any manner, including a showing of the efficacy of any security procedure applied to determine the person to which the electronic record or electronic signature was attributable.
(b) The effect of an electronic record or electronic signature attributed to a person under subsection (a) of this section is determined from the context and surrounding circumstances at the time of its creation, execution, or adoption, including the parties’ agreement, if any, and otherwise as provided by law.
Added by Laws 2000, c. 372, § 9, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-110. Effect of change or error.

EFFECT OF CHANGE OR ERROR
If a change or error in an electronic record occurs in a transmission between parties to a transaction, the following rules apply:
(1) If the parties have agreed to use a security procedure to detect changes or errors and one party has conformed to the procedure, but the other party has not, and the nonconforming party would have detected the change or error had that party also conformed, the conforming party may avoid the effect of the changed or erroneous electronic record.
(2) In an automated transaction involving an individual, the individual may avoid the effect of an electronic record that resulted from an error made by the individual in dealing with the electronic agent of another person if the electronic agent did not provide an opportunity for the prevention or correction of the error and, at the time the individual learns of the error, the individual:
(A) promptly notifies the other person of the error and that the individual did not intend to be bound by the electronic record received by the other person;
(B) takes reasonable steps, including steps that conform to the other person’s reasonable instructions, to return to the other person or, if instructed by the other person, to destroy the consideration received, if any, as a result of the erroneous electronic record; and
(C) has not used or received any benefit or value from the consideration, if any, received from the other person.
(3) If neither paragraph (1) nor paragraph (2) of this section applies, the change or error has the effect provided by other law, including the law of mistake, and the parties’ contract, if any.
(4) Paragraphs (2) and (3) of this section may not be varied by agreement.
Added by Laws 2000, c. 372, § 10, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-111. Notarization and acknowledgment.

NOTARIZATION AND ACKNOWLEDGMENT
If a law requires a signature or record to be notarized, acknowledged, verified, or made under oath, the requirement is satisfied if the electronic signature of the person authorized to perform those acts, together with all other information required to be included by other applicable law, is attached to or logically associated with the signature or record.
Added by Laws 2000, c. 372, § 11, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-112. Retention of electronic records; originals.

RETENTION OF ELECTRONIC RECORDS; ORIGINALS
(a) If a law requires that a record be retained, the requirement is satisfied by retaining an electronic record of the information in the record which:
(1) accurately reflects the information set forth in the record after it was first generated in its final form as an electronic record or otherwise; and
(2) remains accessible for later reference.
(b) A requirement to retain a record in accordance with subsection (a) of this section does not apply to any information the sole purpose of which is to enable the record to be sent, communicated, or received.
(c) A person may satisfy subsection (a) of this section by using the services of another person if the requirements of that subsection are satisfied.
(d) If a law requires a record to be presented or retained in its original form, or provides consequences if the record is not presented or retained in its original form, that law is satisfied by an electronic record retained in accordance with subsection (a) of this section.
(e) If a law requires retention of a check, that requirement is satisfied by retention of an electronic record of the information on the front and back of the check in accordance with subsection (a) of this section.
(f) A record retained as an electronic record in accordance with subsection (a) of this section satisfies a law requiring a person to retain a record for evidentiary, audit, or like purposes, unless a law enacted after the effective date of this act specifically prohibits the use of an electronic record for the specified purpose.
(g) This section does not preclude a governmental agency of this state from specifying additional requirements for the retention of a record subject to the agency’s jurisdiction.
Added by Laws 2000, c. 372, § 12, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-114. Automated transaction.

AUTOMATED TRANSACTION
In an automated transaction, the following rules apply:
(1) A contract may be formed by the interaction of electronic agents of the parties, even if no individual was aware of or reviewed the electronic agents’ actions or the resulting terms and agreements.
(2) A contract may be formed by the interaction of an electronic agent and an individual, acting on the individual’s own behalf or for another person, including by an interaction in which the individual performs actions that the individual is free to refuse to perform and which the individual knows or has reason to know will cause the electronic agent to complete the transaction or performance.
(3) The terms of the contract are determined by the substantive law applicable to it.
Added by Laws 2000, c. 372, § 14, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-115. Time and place of sending and receipt.

TIME AND PLACE OF SENDING AND RECEIPT
(a) Unless otherwise agreed between the sender and the recipient, an electronic record is sent when it:
(1) is addressed properly or otherwise directed properly to an information processing system that the recipient has designated or uses for the purpose of receiving electronic records or information of the type sent and from which the recipient is able to retrieve the electronic record;
(2) is in a form capable of being processed by that system; and
(3) enters an information processing system outside the control of the sender or of a person that sent the electronic record on behalf of the sender or enters a region of the information processing system designated or used by the recipient which is under the control of the recipient.
(b) Unless otherwise agreed between a sender and the recipient, an electronic record is received when:
(1) it enters an information processing system that the recipient has designated or uses for the purpose of receiving electronic records or information of the type sent and from which the recipient is able to retrieve the electronic record; and
(2) it is in a form capable of being processed by that system.
(c) Subsection (b) of this section applies even if the place the information processing system is located is different from the place the electronic record is deemed to be received under subsection (d) of this section.
(d) Unless otherwise expressly provided in the electronic record or agreed between the sender and the recipient, an electronic record is deemed to be sent from the sender’s place of business and to be received at the recipient’s place of business. For purposes of this subsection, the following rules apply:
(1) If the sender or recipient has more than one place of business, the place of business of that person is the place having the closest relationship to the underlying transaction.
(2) If the sender or the recipient does not have a place of business, the place of business is the sender’s or recipient’s residence, as the case may be.
(e) An electronic record is received under subsection (b) of this section even if no individual is aware of its receipt.
(f) Receipt of an electronic acknowledgment from an information processing system described in subsection (b) of this section establishes that a record was received but, by itself, does not establish that the content sent corresponds to the content received.
(g) If a person is aware that an electronic record purportedly sent under subsection (a) of this section, or purportedly received under subsection (b) of this section, was not actually sent or received, the legal effect of the sending or receipt is determined by other applicable law. Except to the extent permitted by the other law, the requirements of this subsection may not be varied by agreement.
Added by Laws 2000, c. 372, § 15, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-117. Creation and retention of electronic records and conversion of written records by governmental agencies.

CREATION AND RETENTION OF ELECTRONIC RECORDS AND CONVERSION OF WRITTEN RECORDS BY GOVERNMENTAL AGENCIES
Each governmental agency of this state, in cooperation with the Archives and Records Commission, shall determine whether, and the extent to which, it will create and retain electronic records and convert written records to electronic records.
Added by Laws 2000, c. 372, § 17, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-118. Acceptance and distribution of electronic records by governmental agencies.

ACCEPTANCE AND DISTRIBUTION OF ELECTRONIC RECORDS BY GOVERNMENTAL AGENCIES
(a) Except as otherwise provided in subsection (f) of Section 12 of this act, each governmental agency of this state shall determine whether, and the extent to which, it will send and accept electronic records and electronic signatures to and from other persons and otherwise create, generate, communicate, store, process, use, and rely upon electronic records and electronic signatures.
(b) To the extent that a governmental agency uses electronic records and electronic signatures under subsection (a) of this section, the governmental agency, giving due consideration to security, may specify:
(1) the manner and format in which the electronic records must be created, generated, sent, communicated, received, and stored and the systems established for those purposes;
(2) if electronic records must be signed by electronic means, the type of electronic signature required, the manner and format in which the electronic signature must be affixed to the electronic record, and the identity of, or criteria that must be met by, any third party used by a person filing a document to facilitate the process;
(3) control processes and procedures as appropriate to ensure adequate preservation, disposition, integrity, security, confidentiality, and auditability of electronic records; and
(4) any other required attributes for electronic records which are specified for corresponding nonelectronic records or reasonably necessary under the circumstances.
(c) Except as otherwise provided in subsection (f) of Section 12 of this act, this act does not require a governmental agency of this state to use or permit the use of electronic records or electronic signatures.
Added by Laws 2000, c. 372, § 18, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-119. Interoperability.

INTEROPERABILITY
A governmental agency of this state which adopts standards pursuant to Section 18 of this act may encourage and promote consistency and interoperability with similar requirements adopted by other governmental agencies of this and other states and the federal government and nongovernmental persons interacting with governmental agencies of this state. If appropriate, those standards may specify differing levels of standards from which governmental agencies of this state may choose in implementing the most appropriate standard for a particular application.
Added by Laws 2000, c. 372, § 19, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-120. Waiver of information transaction laws by governmental agencies.

WAIVER OF INFORMATION TRANSACTION LAWS BY GOVERNMENTAL AGENCIES
Notwithstanding subsections (b) and (d) of Section 8 of this act, a governmental agency may waive the requirements of state law governing (i) the method of posting or display of a record or information, (ii) the manner of communication or transmittal of a record or information, including but not limited to, first class or other United States mail requirements, or (iii) formatting requirements of a record or information, with respect to the matters over which the agency has jurisdiction.
Added by Laws 2000, c. 372, § 20, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 12A. Commercial Code › §12A-15-121. Registration of certification authorities.

(a) No person, other than a state agency, board, or commission, shall act as a registered certification authority in this state until such person:
(1) Registers with the Secretary on forms approved and provided by the Secretary;
(2) Files with the Secretary a good and sufficient surety bond, certificate of insurance, or other evidence of financial security in the amount of Two Hundred Fifty Thousand Dollars ($250,000.00); and
(3) Meets the requirements of any rules promulgated by the Secretary.
(b) District and appellate court filings shall not be subject to the rules and regulations promulgated by the Secretary of State, but shall require the use of a registered certification authority or electronic signature pursuant to rules adopted by the Supreme Court.
(c) If a registered certification authority fails to maintain any of the qualifications listed in subsection (a) of this section, the registration of the certification authority shall be deemed lapsed.
(d) Any person who knowingly acts as a registered certification authority who has not met the requirements set forth in subsection (a) of this section shall, upon conviction, be guilty of a misdemeanor and shall be punished by a fine of not more than One Thousand Dollars ($1,000.00) or up to thirty (30) days in a county jail, or both, for each violation. Each violation shall be a separate offense under this section.
(e) Notwithstanding any contractual provisions to the contrary, a certification authority shall be liable for damages suffered by any person injured as a result of the fraudulent or unauthorized acts of the certification authority.
(f) In addition to any civil or criminal actions, the Secretary or the Attorney General may apply to the district court in the county in which a violation of this section has allegedly occurred for an order enjoining or restraining the person from continuing the acts specified in the complaint. The court may grant a temporary or permanent injunction or restraining order, with or without bond, as it deems just and proper.
(g) The Secretary is authorized to adopt rules to implement the provisions of this section, and related provisions.
(h) The Secretary shall have the authority to establish reciprocity with other states and nations for purposes of this section, and related provisions.
Added by Laws 2001, c. 282, § 2, eff. July 1, 2001. Amended by Laws 2011, c. 57, § 1, eff. July 1, 2011; Laws 2012, c. 278, § 3, eff. Nov. 1, 2012.
2023 Oklahoma Statutes › Title 13. Common Carriers › §13-9. Railroad and express companies - Excessive rates.

All agents of railroad and express companies doing business in this state are hereby prohibited from knowingly charging, collecting or receiving pay for any goods, wares, packages, merchandise, or any article whatever that may be sent or received by or through their respective offices in excess of the regular rates charged for the same.
R.L. 1910, § 791.
2023 Oklahoma Statutes › Title 13. Common Carriers › §13-11. Rate schedules - Inspection.

In order to ascertain what the regular charges of such companies are, all railroad, express, telegraph, and telephone companies doing business in this state are hereby required to keep in all their offices in this state, a schedule of the regular rates charged by them, which shall be open to the inspection of any person interested therein.
R.L. 1910, § 793.
2023 Oklahoma Statutes › Title 13. Common Carriers › §13-12. Overcharges - Penalty.

Any person who shall violate the provisions of Sections 792 and 793 shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be fined in any sum not less than Twenty-five Dollars ($25.00) nor more than Two Hundred Dollars ($200.00).
R.L. 1910, § 794.
2023 Oklahoma Statutes › Title 13. Common Carriers › §13-13. Concealing rate schedules - Penalty.

Any agent of any railroad, express, telegraph, or telephone company who shall fail or refuse to show the schedule of rates of said company to any person or persons interested therein, and allow him or them to examine the same, shall be deemed guilty of a misdemeanor, and upon conviction thereof, shall be fined in any sum not less than One Hundred Dollars ($100.00) nor more than Five Hundred Dollars ($500.00).
R.L. 1910, § 795.
2023 Oklahoma Statutes › Title 13. Common Carriers › §13-16. Acceptance of ticket, etc., as assent to contract.

A passenger, consignor or consignee by accepting a ticket, bill of lading or written contract for carriage, with a knowledge of its terms, assents to the rate of hire, the time, place and manner of delivery therein stated. But his assent to any other modification of the carrier's rights or obligations contained in such instrument can only be manifested by his signature to the same.
R.L. 1910, § 798.
2023 Oklahoma Statutes › Title 13. Common Carriers › §13-37. Luggage - Duty to carry - Charges.

A common carrier of persons, unless his vehicle is fitted for the reception of passengers exclusively, must receive and carry a reasonable amount of luggage for each passenger, without any charge except for an excess of weight over one hundred and fifty (150) pounds to a passenger.
R.L. 1910, § 805.
2023 Oklahoma Statutes › Title 13. Common Carriers › §13-40. Carriage and delivery of luggage.

A common carrier must deliver every passenger's luggage, whether within the prescribed weight or not, immediately upon the arrival of the passenger at his destination; and unless the vehicle be overcrowded or overloaded thereby, must carry it on the same vehicle by which he carries the passenger to whom it belongs except that where luggage is transported by rail, it must be checked and carried in a regular baggage car; and whenever passengers neglect or refuse to have their luggage so checked and transported, it is carried at their risk.
R.L. 1910, § 808.
2023 Oklahoma Statutes › Title 13. Common Carriers › §13-45. Ejection of passengers.

A passenger who refuses to pay his fare, or to conform to any lawful regulation of the carrier, may be ejected from the vehicle by the carrier. But this must be done with as little violence as possible, and at any usual stopping place, or near some dwelling house. After having ejected a passenger, a carrier has no right to require the payment of any part of his fare.
R.L. 1910, § 813.