Okla. Stat. tit. 61, § 61-113.2: Withdrawal of retainage - Deposit of securities

The contractor may, from time to time, withdraw any part, or the

whole, of the amount which has been retained from partial payments

to the contractor pursuant to the terms of contract, upon depositing

with or delivery to the awarding public agency, or other appropriate

public official designated in the contract document: (1) United

States Treasury bonds, United States Treasury notes, United States

Treasury bills, or (2) general obligation bonds of the State of

Oklahoma, or (3) certificates of deposit from a state or national

bank having its principal office in the State of Oklahoma. No

retained amount shall be withdrawn which would represent an amount

in excess of the market value of the securities at the time of

deposit or of the par value of such securities, whichever is lower.

At the time of deposit of any securities the same shall be

endorsed, if necessary, and shall be accompanied by a conditional

assignment to the awarding public agency, or to the other public

body designated as "owner" in the contract documents, which will

empower the awarding public agency, or other appropriate public

official designated to have custody of same, to negotiate same at

any time to the extent necessary to cause the contract to be

fulfilled. The securities which remain on deposit at the time of

completion of any contract and observance by the parties to the

contract of any other statutory obligations relative thereto shall

be returned to the contractor.