Okla. Stat. tit. 12A, § 12A-2-505: Seller's shipment under reservation

Seller's Shipment Under Reservation.

(1) Where the seller has identified goods to the contract by or

before shipment:

(a) his procurement of a negotiable bill of lading to his own

order or otherwise reserves in him a security interest in the goods.

His procurement of the bill to the order of a financing agency or of

the buyer indicates in addition only the seller's expectation of

transferring that interest to the person named.

(b) a nonnegotiable bill of lading to himself or his nominee

reserves possession of the goods as security but except in a case of

conditional delivery (subsection (2) of Section 2-507) a

nonnegotiable bill of lading naming the buyer as consignee reserves

no security interest even though the seller retains possession or

control of the bill of lading.

(2) When shipment by the seller with reservation of a security

interest is in violation of the contract for sale it constitutes an

improper contract for transportation within the preceding section

but impairs neither the rights given to the buyer by shipment and

identification of the goods to the contract nor the seller's powers

as a holder of a negotiable document of title.