Okla. Stat. tit. 12A, § 12A-8-203
This is the official text of Okla. Stat. tit. 12A, § 12A-8-203, 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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Staleness as Notice of Defects or Defenses
Official statutory text
Staleness as Notice of Defects or Defenses.
After an act or event, other than a call that has been revoked,
creating a right to immediate performance of the principal
obligation represented by a certificated security or setting a date
on or after which the security is to be presented or surrendered for
redemption or exchange, a purchaser is charged with notice of any
defect in its issue or defense of the issuer, if the act or event:
(1) requires the payment of money, the delivery of a
certificated security, the registration of transfer of
an uncertificated security, or any of them on
presentation or surrender of the security certificate,
the money or security is available on the date set for
payment or exchange, and the purchaser takes the
security more than one (1) year after that date; or
(2) is not covered by paragraph (1) of this subsection and
the purchaser takes the security more than two (2)
years after the date set for surrender or presentation
or the date on which performance became due.
After an act or event, other than a call that has been revoked,
creating a right to immediate performance of the principal
obligation represented by a certificated security or setting a date
on or after which the security is to be presented or surrendered for
redemption or exchange, a purchaser is charged with notice of any
defect in its issue or defense of the issuer, if the act or event:
(1) requires the payment of money, the delivery of a
certificated security, the registration of transfer of
an uncertificated security, or any of them on
presentation or surrender of the security certificate,
the money or security is available on the date set for
payment or exchange, and the purchaser takes the
security more than one (1) year after that date; or
(2) is not covered by paragraph (1) of this subsection and
the purchaser takes the security more than two (2)
years after the date set for surrender or presentation
or the date on which performance became due.
Status: in_force · Read it on the official government site
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