Okla. Stat. tit. 12A, § 12A-3-309
This is the official text of Okla. Stat. tit. 12A, § 12A-3-309, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Enforcement of Lost, Destroyed, or Stolen Instrument
Official statutory text
ENFORCEMENT OF LOST, DESTROYED, OR STOLEN INSTRUMENT
(a) A person not in possession of an instrument is entitled to
enforce the instrument if:
(1) the person seeking to enforce the instrument:
(A) was entitled to enforce the instrument when loss
of possession occurred; or
(B) has directly or indirectly acquired ownership of
the instrument from a person who was entitled to
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 302
enforce the instrument when loss of possession
occurred;
(2) the loss of possession was not the result of a
transfer by the person or a lawful seizure; and
(3) the person cannot reasonably obtain possession of the
instrument because the instrument was destroyed, its
whereabouts cannot be determined, or it is in the
wrongful possession of an unknown person or a person
that cannot be found or is not amenable to service of
process.
(b) A person seeking enforcement of an instrument under
subsection (a) of this section must prove the terms of the
instrument and the person's right to enforce the instrument. If
that proof is made, Section 3-308 of this title applies to the case
as if the person seeking enforcement had produced the instrument.
The court may not enter judgment in favor of the person seeking
enforcement unless it finds that the person required to pay the
instrument is adequately protected against loss that might occur by
reason of a claim by another person to enforce the instrument.
Adequate protection may be provided by any reasonable means.
(a) A person not in possession of an instrument is entitled to
enforce the instrument if:
(1) the person seeking to enforce the instrument:
(A) was entitled to enforce the instrument when loss
of possession occurred; or
(B) has directly or indirectly acquired ownership of
the instrument from a person who was entitled to
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 302
enforce the instrument when loss of possession
occurred;
(2) the loss of possession was not the result of a
transfer by the person or a lawful seizure; and
(3) the person cannot reasonably obtain possession of the
instrument because the instrument was destroyed, its
whereabouts cannot be determined, or it is in the
wrongful possession of an unknown person or a person
that cannot be found or is not amenable to service of
process.
(b) A person seeking enforcement of an instrument under
subsection (a) of this section must prove the terms of the
instrument and the person's right to enforce the instrument. If
that proof is made, Section 3-308 of this title applies to the case
as if the person seeking enforcement had produced the instrument.
The court may not enter judgment in favor of the person seeking
enforcement unless it finds that the person required to pay the
instrument is adequately protected against loss that might occur by
reason of a claim by another person to enforce the instrument.
Adequate protection may be provided by any reasonable means.
Status: in_force · Read it on the official government site
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