Okla. Stat. tit. 12A, § 12A-1-9-328

property.

PRIORITY OF SECURITY INTERESTS IN INVESTMENT PROPERTY

The following rules govern priority among conflicting security

interests in the same investment property:

(1) A security interest held by a secured party having control

of investment property under Section 1-9-106 of this title has

priority over a security interest held by a secured party that does

not have control of the investment property.

(2) Except as otherwise provided in paragraphs (3) and (4) of

this section, conflicting security interests held by secured parties

each of which has control under Section 1-9-106 of this title rank

according to priority in time of:

(A) if the collateral is a security, obtaining control;

(B) if the collateral is a security entitlement carried in

a securities account and:

(i) if the secured party obtained control under

paragraph (1) of subsection (d) of Section 8-106

of this title, the secured party’s becoming the

person for which the securities account is

maintained;

(ii) if the secured party obtained control under

paragraph (2) of subsection (d) of Section 8-106

of this title, the securities intermediary’s

agreement to comply with the secured party’s

entitlement orders with respect to security

Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 88

entitlements carried or to be carried in the

securities account; or

(iii) if the secured party 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

paragraph if the other person were the secured

party; or

(C) if the collateral is a commodity contract carried with

a commodity intermediary, the satisfaction of the

requirement for control specified in paragraph (2) of

subsection (b) of Section 1-9-106 of this title with

respect to commodity contracts carried or to be

carried with the commodity intermediary.

(3) A security interest held by a securities intermediary in a

security entitlement or a securities account maintained with the

securities intermediary has priority over a conflicting security

interest held by another secured party.

(4) A security interest held by a commodity intermediary in a

commodity contract or a commodity account maintained with the

commodity intermediary has priority over a conflicting security

interest held by another secured party.

(5) A security interest in a certificated security in

registered form which is perfected by taking delivery under

subsection (a) of Section 1-9-313 of this title and not by control

under Section 1-9-314 of this title has priority over a conflicting

security interest perfected by a method other than control.

(6) Conflicting security interests created by a broker,

securities intermediary, or commodity intermediary which are

perfected without control under Section 1-9-106 of this title rank

equally.

(7) In all other cases, priority among conflicting security

interests in investment property is governed by Sections 1-9-322 and

1-9-323 of this title.