Okla. Stat. tit. 12A, § 12A-4-201

Status of Credits; Applicability of Article; Item Endorsed "Pay Any

Bank".

STATUS OF COLLECTING

BANK AS AGENT AND PROVISIONAL STATUS OF CREDITS;

APPLICABILITY OF ARTICLE; ITEM ENDORSED "PAY ANY BANK"

(a) Unless a contrary intent clearly appears and before the

time that a settlement given by a collecting bank for an item is or

becomes final, the bank, with respect to the item, is an agent or

subagent of the owner of the item and any settlement given for the

item is provisional. This provision applies regardless of the form

of indorsement or lack of indorsement and even though credit given

for the item is subject to immediate withdrawal as of right or is in

fact withdrawn; but the continuance of ownership of an item by its

owner and any rights of the owner to proceeds of the item are

subject to rights of a collecting bank, such as those resulting from

outstanding advances on the item and rights of recoupment or setoff.

If an item is handled by banks for purposes of presentment, payment,

collection, or return, the relevant provisions of this article apply

even though action of parties clearly establishes that a particular

bank has purchased the item and is the owner of it.

(b) After an item has been indorsed with the words "pay any

bank" or the like, only a bank may acquire the rights of a holder

until the item has been:

(1) returned to the customer initiating collection; or

(2) specially indorsed by bank to a person who is not

a bank.