Okla. Stat. tit. 12A, § 12A-8-511: Priority Among Security Interests and Entitlement

Holders.

Priority Among Security Interests and Entitlement Holders.

(a) Except as otherwise provided in subsections (b) and (c) of

this section, if a securities intermediary does not have sufficient

interests in a particular financial asset to satisfy both its

obligations to entitlement holders who have security entitlements to

that financial asset and its obligation to a creditor of the

securities intermediary who has a security interest in that

financial asset, the claims of entitlement holders, other than the

creditor, have priority over the claim of the creditor.

(b) A claim of a creditor of a securities intermediary who has

a security interest in a financial asset held by a securities

intermediary has priority over claims of the securities

intermediary's entitlement holders who have security entitlements

with respect to that financial asset if the creditor has control

over the financial asset.

(c) If a clearing corporation does not have sufficient

financial assets to satisfy both its obligations to entitlement

holders who have security entitlements with respect to a financial

asset and its obligation to a creditor of the clearing corporation

who has a security interest in that financial asset, the claim of

the creditor has priority over the claims of entitlement holders.