Okla. Stat. tit. 12A, § 12A-4A-502: Creditor process served on receiving bank; setoff by

beneficiary's bank.

CREDITOR PROCESS SERVED ON RECEIVING BANK; SETOFF BY

BENEFICIARY'S BANK

(a) As used in this section, "creditor process" means levy,

attachment, garnishment, notice of lien, sequestration, or similar

process issued by or on behalf of a creditor or other claimant with

respect to an account.

(b) This subsection applies to creditor process with respect to

an authorized account of the sender of a payment order if the

creditor process is served on the receiving bank. For the purpose

of determining rights with respect to the creditor process, if the

receiving bank accepts the payment order the balance in the

authorized account is deemed to be reduced by the amount of the

payment order to the extent the bank did not otherwise receive

payment of the order, unless the creditor process is served at a

time and in a manner affording the bank a reasonable opportunity to

act on it before the bank accepts the payment order.

(c) If a beneficiary's bank has received a payment order for

payment to the beneficiary's account in the bank, the following

rules apply:

(1) The bank may credit the beneficiary's account. The amount

credited may be set off against an obligation owed by the

beneficiary to the bank or may be applied to satisfy creditor

process served on the bank with respect to the account.

(2) The bank may credit the beneficiary's account and allow

withdrawal of the amount credited unless creditor process with

respect to the account is served at a time and in a manner affording

the bank a reasonable opportunity to act to prevent withdrawal.

(3) If creditor process with respect to the beneficiary's

account has been served and the bank has had a reasonable

opportunity to act on it, the bank may not reject the payment order

except for a reason unrelated to the service of process.

(d) Creditor process with respect to a payment by the

originator to the beneficiary pursuant to a funds transfer may be

served only on the beneficiary's bank with respect to the debt owed

by that bank to the beneficiary. Any other bank served with the

creditor process is not obliged to act with respect to the process.