Okla. Stat. tit. 15, § 15-798

A. A gift certificate or gift card constitutes value held in

trust by the issuer of the gift certificate or gift card on behalf

of the beneficiary of the gift certificate or gift card. The value

represented by the gift certificate or gift card belongs to the

beneficiary, or to the legal representative of the beneficiary to

the extent provided by law, and not to the issuer.

B. An issuer of a gift certificate or gift card or who is in

bankruptcy shall continue to honor a gift certificate or gift card

issued prior to the date of the bankruptcy filing on the grounds

that the value of the gift certificate or gift card constitutes

trust property of the beneficiary.

C. 1. This section does not alter the terms of a gift

certificate or gift card. The terms of a gift certificate or gift

card may not make its redemption or other use invalid in the event

of a bankruptcy.

2. This section does not require, unless otherwise required by

law, the issuer of a gift certificate or gift card to:

a. redeem a gift certificate or gift card for cash,

b. replace a gift certificate or gift card that has been

lost or stolen, or

c. maintain a separate account for the funds used to

purchase the gift certificate or gift card.

D. 1. This section does not create an interest in favor of the

beneficiary of the gift certificate or gift card in any specific

property of the issuer;

2. This section does not create a fiduciary or quasi-fiduciary

relationship between the beneficiary of the gift certificates or

gift cards and the issuer, unless otherwise provided by law; and

Oklahoma Statutes - Title 15. Contracts Page 202

3. The issuer of a gift certificate or gift card has no

obligation to pay interest on the value of the gift certificate or

gift card held in trust under this section, unless otherwise

provided by law.

Any waiver of the provisions of Title 15 of the Oklahoma

Statutes is contrary to public policy, and is void and

unenforceable.