Okla. Stat. tit. 12A, § 12A-4A-305

execute payment order.

LIABILITY FOR LATE OR IMPROPER EXECUTION OR FAILURE TO

EXECUTE PAYMENT ORDER

(a) If a funds transfer is completed but execution of a payment

order by the receiving bank in breach of Section 22 of this act

results in delay in payment to the beneficiary, the bank is obliged

to pay interest to either the originator or the beneficiary of the

funds transfer for the period of delay caused by the improper

execution. Except as provided in subsection (c) of this section,

additional damages are not recoverable.

Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 371

(b) If execution of a payment order by a receiving bank in

breach of Section 22 of this act results in (i) noncompletion of the

funds transfer, (ii) failure to use an intermediary bank designated

by the originator, or (iii) issuance of a payment order that does

not comply with the terms of the payment order of the originator,

the bank is liable to the originator for its expenses in the funds

transfer and for incidental expenses and interest losses, to the

extent not covered by subsection (a) of this section, resulting from

the improper execution. Except as provided in subsection (c) of

this section, additional damages are not recoverable.

(c) In addition to the amounts payable under subsections (a)

and (b) of this section, damages, including consequential damages,

are recoverable to the extent provided in an express agreement of

the receiving bank, evidenced by a record.

(d) If a receiving bank fails to execute a payment order it was

obliged by express agreement to execute, the receiving bank is

liable to the sender for its expenses in the transaction and for

incidental expenses and interest losses resulting from the failure

to execute. Additional damages, including consequential damages,

are recoverable to the extent provided in an express agreement of

the receiving bank, evidenced by a record, but are not otherwise

recoverable.

(e) Reasonable attorney fees are recoverable if demand for

compensation under subsection (a) or (b) of this section is made and

refused before an action is brought on the claim. If a claim is

made for breach of an agreement under subsection (d) of this section

and the agreement does not provide for damages, reasonable attorney

fees are recoverable if demand for compensation under subsection (d)

of this section is made and refused before an action is brought on

the claim.

(f) Except as stated in this section, the liability of a

receiving bank under subsections (a) and (b) of this section may not

be varied by agreement.