Okla. Stat. tit. 12A, § 12A-12-104

electronic record, and controllable payment intangible.

RIGHTS IN CONTROLLABLE ACCOUNT, CONTROLLABLE ELECTRONIC RECORD, AND

CONTROLLABLE PAYMENT INTANGIBLE

(a) This section applies to the acquisition and purchase of

rights in a controllable account or controllable payment intangible,

including the rights and benefits under subsections (c), (d), (e),

(g), and (h) of this section of a purchaser and qualifying

Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 465

purchaser, in the same manner this section applies to a controllable

electronic record.

(b) To determine whether a purchaser of a controllable account

or a controllable payment intangible is a qualifying purchaser, the

purchaser obtains control of the account or payment intangible if it

obtains control of the controllable electronic record that evidences

the account or payment intangible.

(c) Except as provided in this section, law other than this

article determines whether a person acquires a right in a

controllable electronic record and the right the person acquires.

(d) A purchaser of a controllable electronic record acquires

all rights in the controllable electronic record that the transferor

had or had power to transfer, except that a purchaser of a limited

interest in a controllable electronic record acquires rights only to

the extent of the interest purchased.

(e) A qualifying purchaser acquires its rights in the

controllable electronic record free of a claim of a property right

in the controllable electronic record.

(f) Except as provided in subsections (a) and (e) of this

section for a controllable account and a controllable payment

intangible or law other than this article, a qualifying purchaser

takes a right to payment, right to performance, or other interest in

property evidenced by the controllable electronic record subject to

a claim of a property right in the right to payment, right to

performance, or other interest in property.

(g) An action may not be asserted against a qualifying

purchaser based on both a purchase by the qualifying purchaser of a

controllable electronic record and a claim of a property right in

another controllable electronic record, whether the action is framed

in conversion, replevin, constructive trust, equitable lien, or

other theory.

(h) Filing of a financing statement under Article 9 of this

title is not notice of a claim of a property right in a controllable

electronic record.