Okla. Stat. tit. 12A, § 12A-8-504: Duty of Securities Intermediary to Maintain Financial

Asset.

Duty of Securities Intermediary to Maintain Financial Asset.

(a) A securities intermediary shall promptly obtain and

thereafter maintain a financial asset in a quantity corresponding to

the aggregate of all security entitlements it has established in

favor of its entitlement holders with respect to that financial

asset. The securities intermediary may maintain those financial

assets directly or through one or more other securities

intermediaries.

(b) Except to the extent otherwise agreed by its entitlement

holder, a securities intermediary may not grant any security

interests in a financial asset it is obligated to maintain pursuant

to subsection (a) of this section.

(c) A securities intermediary satisfies the duty in subsection

(a) of this section if:

(1) the securities intermediary acts with respect to the

duty as agreed upon by the entitlement holder and the

securities intermediary; or

(2) in the absence of agreement, the securities

intermediary exercises due care in accordance with

reasonable commercial standards to obtain and maintain

the financial asset.

(d) This section does not apply to a clearing corporation that

is itself the obligor of an option or similar obligation to which

its entitlement holders have security entitlements.