{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-1-9-105","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-1-9-105","heading":"Control of electronic copy of record evidencing","body":"chattel paper.\n\nCONTROL OF ELECTRONIC COPY OF RECORD EVIDENCING CHATTEL PAPER\n\n(a) A purchaser has control of an authoritative electronic copy\n\nof a record evidencing chattel paper if a system employed for\n\nevidencing the assignment of interests in the chattel paper reliably\n\nestablishes the purchaser as the person to which the authoritative\n\nelectronic copy was assigned.\n\n(b) A system satisfies subsection (a) of this section if the\n\nrecord or records evidencing the chattel paper are created, stored,\n\nand assigned in a manner that:\n\n(1) a single authoritative copy of the record or records exists\n\nwhich is unique, identifiable and, except as otherwise provided in\n\nparagraphs (4), (5), and (6) of this section, unalterable;\n\n(2) the authoritative copy identifies the purchaser as the\n\nassignee of the record or records;\n\n(3) the authoritative copy is communicated to and maintained by\n\nthe purchaser or its designated custodian;\n\n(4) copies or amendments that add or change an identified\n\nassignee of the authoritative copy can be made only with the consent\n\nof the purchaser;\n\n(5) each copy of the authoritative copy and any copy of a copy\n\nis readily identifiable as a copy that is not the authoritative\n\ncopy; and\n\n(6) any amendment of the authoritative copy is readily\n\nidentifiable as authorized or unauthorized.\n\n(c) A system satisfies subsection (a) of this section, and a\n\npurchaser has control of an authoritative electronic copy of a\n\nrecord evidencing chattel paper, if the electronic copy, a record\n\nattached to or logically associated with the electronic copy, or a\n\nsystem in which the electronic copy is recorded:\n\n(1) enables the purchaser readily to identify each electronic\n\ncopy as either an authoritative copy or a nonauthoritative copy;\n\n(2) enables the purchaser readily to identify itself in any\n\nway, including by name, identifying number, cryptographic key,\n\noffice, or account number, as the assignee of the authoritative\n\nelectronic copy; and\n\n(3) gives the purchaser exclusive power, subject to subsection\n\n(d) of this section, to:\n\n(A) prevent others from adding or changing an identified\n\nassignee of the authoritative electronic copy; and\n\n(B) transfer control of the authoritative electronic copy.\n\n(d) Subject to subsection (e) of this section, a power is\n\nexclusive under subparagraphs (A) and (B) of paragraph 3 of\n\nsubsection (c) of this section even if:\n\n(1) the authoritative electronic copy, a record attached to or\n\nlogically associated with the authoritative electronic copy, or a\n\nsystem in which the authoritative electronic copy is recorded limits\n\nthe use of the authoritative electronic copy or has a protocol\n\nprogrammed to cause a change, including a transfer or loss of\n\ncontrol; or\n\n(2) the power is shared with another person.\n\n(e) A power of a purchaser is not shared with another person\n\nunder paragraph 2 of subsection (d) of this section and the\n\npurchaser's power is not exclusive if:\n\n(1) the purchaser can exercise the power only if the power also\n\nis exercised by the other person; and\n\n(2) the other person:\n\n(A) can exercise the power without exercise of the power\n\nby the purchaser; or\n\n(B) is the transferor to the purchaser of an interest in\n\nthe chattel paper.\n\n(f) If a purchaser has the powers specified in subparagraphs\n\n(A) and (B) of paragraph (3) of subsection (c) of this section, the\n\npowers are presumed to be exclusive.\n\nr person:\n\n(A) can exercise the power without exercise of the power\n\nby the purchaser; or\n\n(B) is the transferor to the purchaser of an interest in\n\nthe chattel paper.\n\n(f) If a purchaser has the powers specified in subparagraphs\n\n(A) and (B) of paragraph (3) of subsection (c) of this section, the\n\npowers are presumed to be exclusive.\n\n(g) A purchaser has control of an authoritative electronic copy\n\nof a record evidencing chattel paper if another person, other than\n\nthe transferor to the purchaser of an interest in the chattel paper:\n\n(1) has control of the authoritative electronic copy and\n\nacknowledges that it has control on behalf of the purchaser; or\n\n(2) obtains control of the authoritative electronic copy after\n\nhaving acknowledged that it will obtain control of the electronic\n\ncopy on behalf of the purchaser.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"9165a48c6fd175ea9c489508b369f8c9eba6838e5484be7fbe37d702919d5584","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-1-9-104","next":"us-ok/okla.-stat.-tit.-12a-12a-1-9-106"},"notice":"GroundRules: Original legal text. Not legal advice."}