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§ 1-9-106. Control of investment property

Oklahoma Statutes AnnotatedTitle 12A. Commercial Code

Oklahoma Statutes Annotated
Title 12a. Commercial Code (Refs & Annos)
Article 9. Secured Transactions (Refs & Annos)
Part 1. General Provisions
12A Okl.St.Ann. § 1-9-106
§ 1-9-106. Control of investment property
Control of investment property
(a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8-106 of this title.
(b) A secured party has control of a commodity contract if:
(1) the secured party is the commodity intermediary with which the commodity contract is carried; or
(2) the commodity customer, secured party, and commodity intermediary have agreed that the commodity intermediary will apply any value distributed on account of the commodity contract as directed by the secured party without further consent by the commodity customer.
(c) A secured party having control of all security entitlements or commodity contracts carried in a securities account or commodity account has control over the securities account or commodity account.

Credits

Laws 2000, c. 371, § 6, eff. July 1, 2001.
12A Okl. St. Ann. § 1-9-106, OK ST T. 12A § 1-9-106
Current with emergency effective legislation through Chapter 378 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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