Okla. Stat. tit. 2, § 2-9-28.1
This is the official text of Okla. Stat. tit. 2, § 2-9-28.1, part of Oklahoma’s Stat. tit. 2, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 2,." Browse the sections below, each linked to its official government source.
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Electronic receipts and documents - Security interest -
Official statutory text
Rule making.
Notwithstanding any other provision of federal or state law:
1. Electronic receipts issued, and electronic documents
transferred, under this subsection with respect to an agricultural
product may be recorded in, and transferred under, a system
maintained in one or more locations and approved by the State Board
of Agriculture in accordance with rules issued under this act;
2. Any person designated as the holder of an electronic receipt
or other electronic document under this act shall, for the purpose
of perfecting the security interest of the person under federal or
state law and for all other purposes, be considered to be in
possession of the electronic receipt or other electronic document;
3. An electronic receipt issued, or other electronic document
transferred, in accordance with this act shall not be denied legal
effect, validity, or enforceability on the ground that the
information is generated, sent, received, or stored by electronic or
similar means;
4. A person shall not be required to issue in electronic form a
receipt or document with respect to an agricultural product;
5. The Board shall promulgate rules that authorize the
issuance, recording, and transfer of electronic receipts, and the
transfer of other electronic documents, in accordance with this
subsection; and
6. The Board shall promulgate rules governing one or more
electronic systems under which electronic receipts may be issued and
transferred and other electronic documents relating to the shipment,
payment, and financing of the sale of agricultural products may be
transferred.
Notwithstanding any other provision of federal or state law:
1. Electronic receipts issued, and electronic documents
transferred, under this subsection with respect to an agricultural
product may be recorded in, and transferred under, a system
maintained in one or more locations and approved by the State Board
of Agriculture in accordance with rules issued under this act;
2. Any person designated as the holder of an electronic receipt
or other electronic document under this act shall, for the purpose
of perfecting the security interest of the person under federal or
state law and for all other purposes, be considered to be in
possession of the electronic receipt or other electronic document;
3. An electronic receipt issued, or other electronic document
transferred, in accordance with this act shall not be denied legal
effect, validity, or enforceability on the ground that the
information is generated, sent, received, or stored by electronic or
similar means;
4. A person shall not be required to issue in electronic form a
receipt or document with respect to an agricultural product;
5. The Board shall promulgate rules that authorize the
issuance, recording, and transfer of electronic receipts, and the
transfer of other electronic documents, in accordance with this
subsection; and
6. The Board shall promulgate rules governing one or more
electronic systems under which electronic receipts may be issued and
transferred and other electronic documents relating to the shipment,
payment, and financing of the sale of agricultural products may be
transferred.
Status: in_force · Read it on the official government site
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