Okla. Stat. tit. 2, § 2-9-28.1: Electronic receipts and documents - Security interest -

Rule making.

Notwithstanding any other provision of federal or state law:

1. Electronic receipts issued, and electronic documents

transferred, under this subsection with respect to an agricultural

product may be recorded in, and transferred under, a system

maintained in one or more locations and approved by the State Board

of Agriculture in accordance with rules issued under this act;

2. Any person designated as the holder of an electronic receipt

or other electronic document under this act shall, for the purpose

of perfecting the security interest of the person under federal or

state law and for all other purposes, be considered to be in

possession of the electronic receipt or other electronic document;

3. An electronic receipt issued, or other electronic document

transferred, in accordance with this act shall not be denied legal

effect, validity, or enforceability on the ground that the

information is generated, sent, received, or stored by electronic or

similar means;

4. A person shall not be required to issue in electronic form a

receipt or document with respect to an agricultural product;

5. The Board shall promulgate rules that authorize the

issuance, recording, and transfer of electronic receipts, and the

transfer of other electronic documents, in accordance with this

subsection; and

6. The Board shall promulgate rules governing one or more

electronic systems under which electronic receipts may be issued and

transferred and other electronic documents relating to the shipment,

payment, and financing of the sale of agricultural products may be

transferred.