Okla. Stat. tit. 12A, § 12A-5-112: Transfer of Letter of Credit

Transfer of Letter of Credit.

(a) Except as otherwise provided in Section 5-113 of this

title, unless a letter of credit provides that it is transferable,

the right of a beneficiary to draw or otherwise demand performance

under a letter of credit may not be transferred.

(b) Even if a letter of credit provides that it is

transferable, the issuer may refuse to recognize or carry out a

transfer if:

(1) The transfer would violate applicable law; or

(2) The transferor or transferee has failed to comply with

any requirement stated in the letter of credit or any

other requirement relating to transfer imposed by the

issuer which is within the standard practice referred

to in subsection (e) of Section 5-108 of this title or

is otherwise reasonable under the circumstances.