Okla. Stat. tit. 12A, § 12A-7-106

Control of Electronic Document of Title.

(a) A person has control of an electronic document of title if

a system employed for evidencing the transfer of interests in the

electronic document reliably establishes that person as the person

to which the electronic document was issued or transferred.

(b) A system satisfies subsection (a) of this section, and a

person has control of an electronic document of title, if the

document is created, stored, and transferred in a manner that:

(1) a single authoritative copy of the document exists which

is unique, identifiable, and, except as otherwise provided in

paragraphs (4), (5), and (6) of this subsection, unalterable;

(2) the authoritative copy identifies the person asserting

control as:

(A) the person to which the document was issued; or

(B) if the authoritative copy indicates that the document

has been transferred, the person to which the document

was most recently transferred;

(3) the authoritative copy is communicated to and maintained by

the person asserting control or its designated custodian;

(4) copies or amendments that add or change an identified

transferee of the authoritative copy can be made only with the

consent of the person asserting control;

(5) each copy of the authoritative copy and any copy of a copy

is readily identifiable as a copy that is not the authoritative

copy; and

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(6) any amendment of the authoritative copy is readily

identifiable as authorized or unauthorized.

(c) A system satisfies subsection (a) of this section, and a

person has control of an electronic document of title, if an

authoritative electronic copy of the document, a record attached to

or logically associated with the electronic copy, or a system in

which the electronic copy is recorded:

(1) enables the person readily to identify each electronic copy

as either an authoritative copy or a nonauthoritative copy;

(2) enables the person readily to identify itself in any way,

including by name, identifying number, cryptographic key, office, or

account number, as the person to which each authoritative electronic

copy was issued or transferred; and

(3) gives the person exclusive power, subject to subsection (d)

of this section, to:

(A) prevent others from adding or changing the person to

which each authoritative electronic copy has been

issued or transferred; and

(B) transfer control of each authoritative electronic

copy.

(d) Subject to subsection (e) of this section, a power is

exclusive under subparagraphs (A) and (B) of paragraph (3) of

subsection (c) of this section even if:

(1) the authoritative electronic copy, a record attached to or

logically associated with the authoritative electronic copy, or a

system in which the authoritative electronic copy is recorded limits

the use of the document of title or has a protocol that is

programmed to cause a change, including a transfer or loss of

control; or

(2) the power is shared with another person.

(e) A power of a person is not shared with another person under

paragraph (2) of subsection (d) of this section and the person's

power is not exclusive if:

(1) the person can exercise the power only if the power also is

exercised by the other person; and

(2) the other person:

(A) can exercise the power without exercise of the power

by the person; or

(B) is the transferor to the person of an interest in the

document of title.

(f) If a person has the powers specified in subparagraphs (A)

and (B) of paragraph (3) of subsection (c) of this section, the

powers are presumed to be exclusive.
f the power also is

exercised by the other person; and

(2) the other person:

(A) can exercise the power without exercise of the power

by the person; or

(B) is the transferor to the person of an interest in the

document of title.

(f) If a person has the powers specified in subparagraphs (A)

and (B) of paragraph (3) of subsection (c) of this section, the

powers are presumed to be exclusive.

(g) A person has control of an electronic document of title if

another person, other than the transferor to the person of an

interest in the document:

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(1) has control of the document and acknowledges that it has

control on behalf of the person; or

(2) obtains control of the document after having acknowledged

that it will obtain control of the document on behalf of the person.

(h) A person that has control under this section is not

required to acknowledge that it has control on behalf of another

person.

(i) If a person acknowledges that it has or will obtain control

on behalf of another person, unless the person otherwise agrees or

law other than this article or Article 9 of this title otherwise

provides, the person does not owe any duty to the other person and

is not required to confirm the acknowledgment to any other person.