Okla. Stat. tit. 6, § 6-1023: Deposit of securities in clearing corporation or Federal

Reserve Bank.

A. Notwithstanding any other provisions of law, any bank, trust

company, or national banking association holding securities in its

fiduciary capacity, any bank, trust company, or national banking

association holding securities as custodian or managing agent, and

any bank, trust company, or national banking association holding

securities as custodian for a fiduciary is authorized to deposit or

arrange for the deposit of securities in a clearing corporation, as

defined in paragraph (5) of subsection (a) of Section 8-102 of Title

12A of the Oklahoma Statutes, or where the securities are those of

the United States of America, to deposit or arrange for the deposit

of the securities at the Federal Reserve Bank under regulations

prescribed from time to time by the Comptroller of the Currency.

When securities are so deposited, certificates representing

securities of the same class of the same issuer may be merged and

held in bulk in the name of the nominee of the clearing corporation

with any other securities deposited in the clearing corporation by

any person regardless of the ownership of the securities, and

certificates of small denominations may be merged into one or more

certificates of larger denomination. The records of the fiduciary

and the records of the bank, trust company, or national banking

association acting as custodian, managing agent, or as custodian for

a fiduciary shall at all times show the name of the party for whose

account the securities have been deposited. Ownership of, and other

interest in, the securities may be transferred by bookkeeping entry

on the books of the clearing corporation without physical delivery

of certificates representing the securities. A bank, trust company,

or national banking association which deposits securities pursuant

to this section shall be subject to such rules and regulations as,

in the case of a state chartered institution, the Commissioner and,

in the case of a national banking association, the Comptroller of

the Currency, may from time to time issue. A bank, trust company,

or national banking association acting as custodian for a fiduciary

shall, on demand by the fiduciary, certify in writing to the

fiduciary the securities deposited by the bank, trust company, or

national banking association in the clearing corporation for the

account of the fiduciary. A fiduciary shall, on demand by any party

to a judicial proceeding for the settlement of the fiduciary's

account or on demand by the attorney for the party, certify in

writing to the party the securities deposited by the fiduciary in

the clearing corporation for its account as the fiduciary.

B. This section shall apply to any fiduciary holding securities

in its fiduciary capacity, and any bank, trust company, or national

banking association holding securities as a custodian, managing

agent, or custodian for a fiduciary, acting on the effective date of

this section or who thereafter may act regardless of the date of the

agreement, instrument, or court order by which it is appointed and

regardless of whether or not the fiduciary, custodian, managing

agent, or custodian for a fiduciary, owns capital stock of the

clearing corporation.