Okla. Stat. tit. 12A, § 12A-3-415: Obligation of Indorser

OBLIGATION OF INDORSER

(a) Subject to subsections (b), (c), (d), and (e) of this

section and to subsection (d) of Section 3-419 of this title, if an

instrument is dishonored, an indorser is obliged to pay the amount

due on the instrument (i) according to the terms of the instrument

at the time it was indorsed, or (ii) if the indorser indorsed an

incomplete instrument, according to its terms when completed, to the

extent stated in Section 3-115 and 3-407 of this title. The

obligation of the indorser is owed to a person entitled to enforce

the instrument or to a subsequent indorser who paid the instrument

under this section.

(b) If an indorsement states that it is made "without recourse"

or otherwise disclaims liability of the indorser, the indorser is

not liable under subsection (a) of this section to pay the

instrument.

(c) If notice of dishonor of an instrument is required by

Section 3-503 of this title and notice of dishonor complying with

that section is not given to an indorser, the liability of the

indorser under subsection (a) of this section is discharged.

(d) If a draft is accepted by a bank after an indorsement is

made, the liability of the indorser under subsection (a) of this

section is discharged.

(e) If an indorser of a check is liable under subsection (a) of

this section and the check is not presented for payment, or given to

a depositary bank for collection, within thirty (30) days after the

day the indorsement was made, the liability of the indorser under

subsection (a) of this section is discharged.