Okla. Stat. tit. 12A, § 12A-7-501: Form of negotiation and requirements of due

negotiation.

Form of Negotiation and Requirements of Due Negotiation.

(a) The following rules apply to a negotiable tangible document

of title:

(1) If the document’s original terms run to the order of a

named person, the document is negotiated by the named person’s

endorsement and delivery. After the named person’s endorsement in

blank or to bearer, any person may negotiate the document by

delivery alone.

(2) If the document’s original terms run to bearer, it is

negotiated by delivery alone.

(3) If the document’s original terms run to the order of a

named person and it is delivered to the named person, the effect is

the same as if the document had been negotiated.

(4) Negotiation of the document after it has been endorsed to a

named person requires endorsement by the named person and delivery.

(5) A document is duly negotiated if it is negotiated in the

manner stated in this subsection to a holder that purchases it in

good faith, without notice of any defense against or claim to it on

the part of any person, and for value, unless it is established that

the negotiation is not in the regular course of business or

financing or involves receiving the document in settlement or

payment of a money obligation.

(b) The following rules apply to a negotiable electronic

document of title:

(1) If the document’s original terms run to the order of a

named person or to bearer, the document is negotiated by delivery of

the document to another person. Endorsement by the named person is

not required to negotiate the document.

(2) If the document’s original terms run to the order of a

named person and the named person has control of the document, the

effect is the same as if the document had been negotiated.

(3) A document is duly negotiated if it is negotiated in the

manner stated in this subsection to a holder that purchases it in

good faith, without notice of any defense against or claim to it on

the part of any person, and for value, unless it is established that

the negotiation is not in the regular course of business or

financing or involves taking delivery of the document in settlement

or payment of a monetary obligation.

(c) Endorsement of a nonnegotiable document of title neither

makes it negotiable nor adds to the transferee's rights.

(d) The naming in a negotiable bill of lading of a person to be

notified of the arrival of the goods does not limit the

negotiability of the bill nor constitute notice to a purchaser of

the bill of any interest of that person in the goods.