Okla. Stat. tit. 12A, § 12A-8-105
This is the official text of Okla. Stat. tit. 12A, § 12A-8-105, 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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Notice of Adverse Claim
Official statutory text
Notice of Adverse Claim.
(a) A person has notice of an adverse claim if:
(1) the person knows of the adverse claim;
(2) the person is aware of facts sufficient to indicate
that there is a significant probability that the
adverse claim exists and deliberately avoids
information that would establish the existence of the
adverse claim; or
(3) the person has a duty, imposed by statute or
regulation, to investigate whether an adverse claim
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 425
exists, and the investigation so required would
establish the existence of the adverse claim.
(b) Having knowledge that a financial asset or interest therein
is or has been transferred by a representative imposes no duty of
inquiry into the rightfulness of a transaction and is not notice of
an adverse claim. However, a person who knows that a representative
has transferred a financial asset or interest therein in a
transaction that is, or whose proceeds are being used, for the
individual benefit of the representative or otherwise in breach of
duty has notice of an adverse claim.
(c) An act or event that creates a right to immediate
performance of the principal obligation represented by a security
certificate or sets a date on or after which the certificate is to
be presented or surrendered for redemption or exchange does not
itself constitute notice of an adverse claim except in the case of a
transfer more than:
(1) one (1) year after a date set for presentment or
surrender for redemption or exchange; or
(2) six (6) months after a date set for payment of money
against presentation or surrender of the certificate,
if money was available for payment on that date.
(d) A purchaser of a certificated security has notice of an
adverse claim if the security certificate:
(1) whether in bearer or registered form, has been
indorsed "for collection" or "for surrender" or for
some other purpose not involving transfer; or
(2) is in bearer form and has on it an unambiguous
statement that it is the property of a person other
than the transferor, but the mere writing of a name on
the certificate is not such a statement.
(e) Filing of a financing statement under Article 9 of this
code is not notice of an adverse claim to a financial asset.
(a) A person has notice of an adverse claim if:
(1) the person knows of the adverse claim;
(2) the person is aware of facts sufficient to indicate
that there is a significant probability that the
adverse claim exists and deliberately avoids
information that would establish the existence of the
adverse claim; or
(3) the person has a duty, imposed by statute or
regulation, to investigate whether an adverse claim
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 425
exists, and the investigation so required would
establish the existence of the adverse claim.
(b) Having knowledge that a financial asset or interest therein
is or has been transferred by a representative imposes no duty of
inquiry into the rightfulness of a transaction and is not notice of
an adverse claim. However, a person who knows that a representative
has transferred a financial asset or interest therein in a
transaction that is, or whose proceeds are being used, for the
individual benefit of the representative or otherwise in breach of
duty has notice of an adverse claim.
(c) An act or event that creates a right to immediate
performance of the principal obligation represented by a security
certificate or sets a date on or after which the certificate is to
be presented or surrendered for redemption or exchange does not
itself constitute notice of an adverse claim except in the case of a
transfer more than:
(1) one (1) year after a date set for presentment or
surrender for redemption or exchange; or
(2) six (6) months after a date set for payment of money
against presentation or surrender of the certificate,
if money was available for payment on that date.
(d) A purchaser of a certificated security has notice of an
adverse claim if the security certificate:
(1) whether in bearer or registered form, has been
indorsed "for collection" or "for surrender" or for
some other purpose not involving transfer; or
(2) is in bearer form and has on it an unambiguous
statement that it is the property of a person other
than the transferor, but the mere writing of a name on
the certificate is not such a statement.
(e) Filing of a financing statement under Article 9 of this
code is not notice of an adverse claim to a financial asset.
Status: in_force · Read it on the official government site
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