Okla. Stat. tit. 12A, § 12A-12-107

Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 469

GOVERNING LAW

(a) Except as provided in subsection (b) of this section, the

local law of a controllable electronic record's jurisdiction governs

a matter covered by this article.

(b) For a controllable electronic record that evidences a

controllable account or controllable payment intangible, the local

law of the controllable electronic record's jurisdiction governs a

matter covered by Section 12-106 of this title unless an effective

agreement determines that the local law of another jurisdiction

governs.

(c) The following rules determine a controllable electronic

record's jurisdiction under this section:

(1) If the controllable electronic record, or a record attached

to or logically associated with the controllable electronic record

and readily available for review, expressly provides that a

particular jurisdiction is the controllable electronic record's

jurisdiction for purposes of this article or the Uniform Commercial

Code, that jurisdiction is the controllable electronic record's

jurisdiction.

(2) If paragraph (1) of this subsection does not apply and the

rules of the system in which the controllable electronic record is

recorded are readily available for review and expressly provide that

a particular jurisdiction is the controllable electronic record's

jurisdiction for purposes of this article or the Uniform Commercial

Code, that jurisdiction is the controllable electronic record's

jurisdiction.

(3) If paragraphs (1) and (2) of this subsection do not apply

and the controllable electronic record, or a record attached to or

logically associated with the controllable electronic record and

readily available for review, expressly provides that the

controllable electronic record is governed by the law of a

particular jurisdiction, that jurisdiction is the controllable

electronic record's jurisdiction.

(4) If paragraphs (1), (2), and (3) of this subsection do not

apply and the rules of the system in which the controllable

electronic record is recorded are readily available for review and

expressly provide that the controllable electronic record or the

system is governed by the law of a particular jurisdiction, that

jurisdiction is the controllable electronic record's jurisdiction.

(5) If paragraphs (1) through (4) of this subsection do not

apply, the controllable electronic record's jurisdiction is the

District of Columbia.

(d) If paragraph (5) of subsection (c) of this section applies

and Article 12 is not in effect in the District of Columbia without

material modification, the governing law for a matter covered by

this article is the law of the District of Columbia as though

Article 12 were in effect in the District of Columbia without

Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 470

material modification. In this subsection, "Article 12" means

Article 12 of Uniform Commercial Code Amendments (2022).

(e) To the extent subsections (a) and (b) of this section

provide that the local law of the controllable electronic record's

jurisdiction governs a matter covered by this article, that law

governs even if the matter or a transaction to which the matter

relates does not bear any relation to the controllable electronic

record's jurisdiction.

(f) The rights acquired under Section 12-104 of this title by a

purchaser or qualifying purchaser are governed by the law applicable

under this section at the time of purchase.