Okla. Stat. tit. 12A, § 12A-2-501: Insurable Interest in Goods; Manner of Identification

of Goods.

(1) The buyer obtains a special property and an insurable

interest in goods by identification of existing goods as goods to

which the contract refers even though the goods so identified are

nonconforming and he has an option to return or reject them. Such

identification can be made at any time and in any manner explicitly

agreed to by the parties. In the absence of explicit agreement

identification occurs

(a) when the contract is made if it is for the sale of

goods already existing and identified;

(b) if the contract is for the sale of future goods other

than those described in paragraph (c), when goods are shipped,

marked or otherwise designated by the seller as goods to which the

contract refers;

(c) when the crops are planted or otherwise become growing

crops or the young are conceived if the contract is for the sale of

unborn young to be born within twelve (12) months after contracting

or for the Sale of crops to be harvested within twelve (12) months

or the next normal harvest season after contracting whichever is

longer.

(2) The seller retains an insurable interest in goods so long

as title to or any security interest in the goods remains in him and

where the identification is by the seller alone he may until default

or insolvency or notification to the buyer that the identification

is final substitute other goods for those identified.

(3) Nothing in this section impairs any insurable interest

recognized under any other statute or rule of law.