Okla. Stat. tit. 12A, § 12A-1-9-107: Control of letter-of-credit right

CONTROL OF LETTER-OF-CREDIT RIGHT

A secured party has control of a letter-of-credit right to the

extent of any right to payment or performance by the issuer or any

nominated person if the issuer or nominated person has consented to

an assignment of proceeds of the letter of credit under subsection

(c) of Section 5-114 of this title or otherwise applicable law or

practice.