Okla. Stat. tit. 12A, § 12A-3-602
This is the official text of Okla. Stat. tit. 12A, § 12A-3-602, 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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Payment
Official statutory text
PAYMENT
(a) Subject to subsection (e) of this section, an instrument is
paid to the extent payment is made by or on behalf of a party
obliged to pay the instrument, and to a person entitled to enforce
the instrument. To the extent of the payment, the obligation of the
party obliged to pay the instrument is discharged even though
payment is made with knowledge of a claim to the instrument under
Section 3-306 of this title by another person.
(b) Subject to subsection (e) of this section, a note is paid
to the extent payment is made by or on behalf of a party obliged to
pay the note to a person that formerly was entitled to enforce the
note only if at the time of the payment the party obliged to pay has
not received adequate notification that the note has been
transferred and that payment is to be made to the transferee. A
notification is adequate only if it is signed by the transferor or
the transferee, reasonably identifies the transferred note, and
provides an address at which payments subsequently are to be made.
Upon request, a transferee shall seasonably furnish reasonable proof
that the note has been transferred. Unless the transferee complies
with the request, a payment to the person that formerly was entitled
to enforce the note is effective for purposes of subsection (c) of
this section even if the party obliged to pay the note has received
a notification under this subsection.
(c) Subject to subsection (e) of this section, to the extent of
a payment under subsections (a) and (b) of this section, the
obligation of the party obliged to pay the instrument is discharged
even though payment is made with knowledge of a claim to the
instrument under Section 3-306 of this title by another person.
(d) Subject to subsection (e) of this section, a transferee, or
any party that has acquired rights in the instrument directly or
indirectly from a transferee, including any such party that has
rights as a holder in due course, is deemed to have notice of any
payment that is made under subsection (b) of this section after the
date that the note is transferred to the transferee but before the
party obliged to pay the note receives adequate notification of the
transfer.
(e) The obligation of a party to pay the instrument is not
discharged under subsections (a) through (d) of this section if:
(1) A claim to the instrument under Section 3-306 of this
title is enforceable against the party receiving
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 325
payment and (i) payment is made with knowledge by the
payor that payment is prohibited by injunction or
similar process of a court of competent jurisdiction,
or (ii) in the case of an instrument other than a
cashier's check, teller's check, or certified check,
the party making payment accepted, from the person
having a claim to the instrument, indemnity against
loss resulting from refusal to pay the person entitled
to enforce the instrument; or
(2) The person making payment knows that the instrument is
a stolen instrument and pays a person it knows is in
wrongful possession of the instrument.
(f) As used in this section, “signed”, with respect to a record
that is not a writing, includes the attachment to or logical
association with the record of an electronic symbol, sound, or
process with the present intent to adopt or accept the record.
(a) Subject to subsection (e) of this section, an instrument is
paid to the extent payment is made by or on behalf of a party
obliged to pay the instrument, and to a person entitled to enforce
the instrument. To the extent of the payment, the obligation of the
party obliged to pay the instrument is discharged even though
payment is made with knowledge of a claim to the instrument under
Section 3-306 of this title by another person.
(b) Subject to subsection (e) of this section, a note is paid
to the extent payment is made by or on behalf of a party obliged to
pay the note to a person that formerly was entitled to enforce the
note only if at the time of the payment the party obliged to pay has
not received adequate notification that the note has been
transferred and that payment is to be made to the transferee. A
notification is adequate only if it is signed by the transferor or
the transferee, reasonably identifies the transferred note, and
provides an address at which payments subsequently are to be made.
Upon request, a transferee shall seasonably furnish reasonable proof
that the note has been transferred. Unless the transferee complies
with the request, a payment to the person that formerly was entitled
to enforce the note is effective for purposes of subsection (c) of
this section even if the party obliged to pay the note has received
a notification under this subsection.
(c) Subject to subsection (e) of this section, to the extent of
a payment under subsections (a) and (b) of this section, the
obligation of the party obliged to pay the instrument is discharged
even though payment is made with knowledge of a claim to the
instrument under Section 3-306 of this title by another person.
(d) Subject to subsection (e) of this section, a transferee, or
any party that has acquired rights in the instrument directly or
indirectly from a transferee, including any such party that has
rights as a holder in due course, is deemed to have notice of any
payment that is made under subsection (b) of this section after the
date that the note is transferred to the transferee but before the
party obliged to pay the note receives adequate notification of the
transfer.
(e) The obligation of a party to pay the instrument is not
discharged under subsections (a) through (d) of this section if:
(1) A claim to the instrument under Section 3-306 of this
title is enforceable against the party receiving
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 325
payment and (i) payment is made with knowledge by the
payor that payment is prohibited by injunction or
similar process of a court of competent jurisdiction,
or (ii) in the case of an instrument other than a
cashier's check, teller's check, or certified check,
the party making payment accepted, from the person
having a claim to the instrument, indemnity against
loss resulting from refusal to pay the person entitled
to enforce the instrument; or
(2) The person making payment knows that the instrument is
a stolen instrument and pays a person it knows is in
wrongful possession of the instrument.
(f) As used in this section, “signed”, with respect to a record
that is not a writing, includes the attachment to or logical
association with the record of an electronic symbol, sound, or
process with the present intent to adopt or accept the record.
Status: in_force · Read it on the official government site
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