Okla. Stat. tit. 6, § 6-910.6
This is the official text of Okla. Stat. tit. 6, § 6-910.6, part of Oklahoma’s Stat. tit. 6, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 6,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Payment to beneficiary by bank — Obligation — Discharge
Official statutory text
A. Unless the account agreement provides otherwise, the bank is
obligated to pay a beneficiary if there are sufficient actually and
finally collected funds in the balance of the special deposit.
B. Except as provided in subsection C of this section, the
obligation to pay the beneficiary is excused if the funds available
in the special deposit are insufficient to cover such payment.
C. Unless the account agreement provides otherwise, if the
funds available in the special deposit are insufficient to cover an
obligation to pay a beneficiary, a beneficiary may elect to be paid
the funds that are available or, if there is more than one
beneficiary, a pro rata share of the funds available. Payment to
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 118
the beneficiary making the election under this subsection discharges
the bank’s obligation to pay a beneficiary and does not constitute
an accord and satisfaction with respect to another person obligated
to the beneficiary.
D. Unless the account agreement provides otherwise, the
obligation of the bank obligated to pay a beneficiary is immediately
due and payable.
E. The bank may discharge its obligation under this section by:
1. Crediting another transaction account of the beneficiary; or
2. Taking other action that:
a. is permitted under the account agreement for the bank
to obtain a discharge, or
b. otherwise would constitute a discharge under law.
F. If the bank obligated to pay a beneficiary has incurred an
obligation to discharge that obligation of another person, the
obligation of the other person is discharged if action by the bank
under subsection E of this section would constitute a discharge of
the obligation of the other person under law that determined whether
an obligation is satisfied.
obligated to pay a beneficiary if there are sufficient actually and
finally collected funds in the balance of the special deposit.
B. Except as provided in subsection C of this section, the
obligation to pay the beneficiary is excused if the funds available
in the special deposit are insufficient to cover such payment.
C. Unless the account agreement provides otherwise, if the
funds available in the special deposit are insufficient to cover an
obligation to pay a beneficiary, a beneficiary may elect to be paid
the funds that are available or, if there is more than one
beneficiary, a pro rata share of the funds available. Payment to
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 118
the beneficiary making the election under this subsection discharges
the bank’s obligation to pay a beneficiary and does not constitute
an accord and satisfaction with respect to another person obligated
to the beneficiary.
D. Unless the account agreement provides otherwise, the
obligation of the bank obligated to pay a beneficiary is immediately
due and payable.
E. The bank may discharge its obligation under this section by:
1. Crediting another transaction account of the beneficiary; or
2. Taking other action that:
a. is permitted under the account agreement for the bank
to obtain a discharge, or
b. otherwise would constitute a discharge under law.
F. If the bank obligated to pay a beneficiary has incurred an
obligation to discharge that obligation of another person, the
obligation of the other person is discharged if action by the bank
under subsection E of this section would constitute a discharge of
the obligation of the other person under law that determined whether
an obligation is satisfied.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.