§ 8-501. Securities Account; Acquisition of Security Entitlement from Securities Intermediary
Oklahoma Statutes AnnotatedTitle 12A. Commercial Code
12A Okl.St.Ann. § 8-501
§ 8-501. Securities Account; Acquisition of Security Entitlement from Securities Intermediary
Securities Account; Acquisition of Security Entitlement from Securities Intermediary.
(a) “Securities account” means an account to which a financial asset is or may be credited in accordance with an agreement under which the person maintaining the account undertakes to treat the person for whom the account is maintained as entitled to exercise the rights that comprise the financial asset.
(d) If a securities intermediary holds a financial asset for another person, and the financial asset is registered in the name of, payable to the order of, or specially indorsed to the other person, and has not been indorsed to the securities intermediary or in blank, the other person is treated as holding the financial asset directly rather than as having a security entitlement with respect to the financial asset.
Credits
Laws 1995, c. 242, § 41, eff. Feb. 1, 1996.
12A Okl. St. Ann. § 8-501, OK ST T. 12A § 8-501
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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