Okla. Stat. tit. 12A, § 12A-5-116: Choice of Law and Forum

Choice of Law and Forum.

(a) The liability of an issuer, nominated person, or adviser

for action or omission is governed by the law of the jurisdiction

chosen by an agreement in the form of a record signed by the

affected parties or by a provision in the person's letter of credit,

confirmation, or other undertaking. The jurisdiction whose law is

chosen need not bear any relation to the transaction.

(b) Unless subsection (a) of this section applies, the

liability of an issuer, nominated person, or adviser for action or

omission is governed by the law of the jurisdiction in which the

person is located. The person is considered to be located at the

address indicated in the person's undertaking. If more than one

address is indicated, the person is considered to be located at the

address from which the person's undertaking was issued.

(c) For the purpose of jurisdiction, choice of law, and

recognition of interbranch letters of credit, but not enforcement of

a judgment, all branches of a bank are considered separate juridical

entities and a bank is considered to be located at the place where

its relevant branch is considered to be located under subsection (d)

of this section.

(d) A branch of a bank is considered to be located at the

address indicated in the branch's undertaking. If more than one

address is indicated, the branch is considered to be located at the

address from which the undertaking was issued.

(e) Except as otherwise provided in this subsection, the

liability of an issuer, nominated person, or adviser is governed by

any rules of custom or practice, such as the Uniform Customs and

Practice for Documentary Credits, to which the letter of credit,

confirmation, or other undertaking is expressly made subject. If:

(1) This article would govern the liability of an issuer,

nominated person, or adviser under subsection (a) or

(b) of this section;

(2) The relevant undertaking incorporates rules of custom

or practice; and

(3) There is conflict between this article and those rules

as applied to that undertaking,

those rules govern except to the extent of any conflict with the

nonvariable provisions specified in subsection (c) of Section 5-103

of this title.

(f) If there is conflict between this article and Article 3, 4,

4A, or 9 of this title, this article governs.

(g) The forum for settling disputes arising out of an

undertaking within this article may be chosen in the manner and with

the binding effect that governing law may be chosen in accordance

with subsection (a) of this section.