Okla. Stat. tit. 12A, § 12A-8-501: Securities Account; Acquisition of Security Entitlement

from Securities Intermediary.

Securities Account; Acquisition of Security Entitlement from

Securities Intermediary.

(a) "Securities account" means an account to which a financial

asset is or may be credited in accordance with an agreement under

which the person maintaining the account undertakes to treat the

person for whom the account is maintained as entitled to exercise

the rights that comprise the financial asset.

(b) Except as otherwise provided in subsections (d) and (e) of

this section, a person acquires a security entitlement if a

securities intermediary:

(1) indicates by book entry that a financial asset has

been credited to the person's securities account;

(2) receives a financial asset from the person or acquires

a financial asset for the person and, in either case,

accepts it for credit to the person's securities

account; or

(3) becomes obligated under other law, regulation, or rule

to credit a financial asset to the person's securities

account.

(c) If a condition of subsection (b) of this section has been

met, a person has a security entitlement even though the securities

intermediary does not itself hold the financial asset.

(d) If a securities intermediary holds a financial asset for

another person, and the financial asset is registered in the name

of, payable to the order of, or specially indorsed to the other

person, and has not been indorsed to the securities intermediary or

in blank, the other person is treated as holding the financial asset

directly rather than as having a security entitlement with respect

to the financial asset.

(e) Issuance of a security is not establishment of a security

entitlement.