{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-12-104","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-12-104","heading":"Rights in controllable account, controllable","body":"electronic record, and controllable payment intangible.\n\nRIGHTS IN CONTROLLABLE ACCOUNT, CONTROLLABLE ELECTRONIC RECORD, AND\n\nCONTROLLABLE PAYMENT INTANGIBLE\n\n(a) This section applies to the acquisition and purchase of\n\nrights in a controllable account or controllable payment intangible,\n\nincluding the rights and benefits under subsections (c), (d), (e),\n\n(g), and (h) of this section of a purchaser and qualifying\n\npurchaser, in the same manner this section applies to a controllable\n\nelectronic record.\n\n(b) To determine whether a purchaser of a controllable account\n\nor a controllable payment intangible is a qualifying purchaser, the\n\npurchaser obtains control of the account or payment intangible if it\n\nobtains control of the controllable electronic record that evidences\n\nthe account or payment intangible.\n\n(c) Except as provided in this section, law other than this\n\narticle determines whether a person acquires a right in a\n\ncontrollable electronic record and the right the person acquires.\n\n(d) A purchaser of a controllable electronic record acquires\n\nall rights in the controllable electronic record that the transferor\n\nhad or had power to transfer, except that a purchaser of a limited\n\ninterest in a controllable electronic record acquires rights only to\n\nthe extent of the interest purchased.\n\n(e) A qualifying purchaser acquires its rights in the\n\ncontrollable electronic record free of a claim of a property right\n\nin the controllable electronic record.\n\n(f) Except as provided in subsections (a) and (e) of this\n\nsection for a controllable account and a controllable payment\n\nintangible or law other than this article, a qualifying purchaser\n\ntakes a right to payment, right to performance, or other interest in\n\nproperty evidenced by the controllable electronic record subject to\n\na claim of a property right in the right to payment, right to\n\nperformance, or other interest in property.\n\n(g) An action may not be asserted against a qualifying\n\npurchaser based on both a purchase by the qualifying purchaser of a\n\ncontrollable electronic record and a claim of a property right in\n\nanother controllable electronic record, whether the action is framed\n\nin conversion, replevin, constructive trust, equitable lien, or\n\nother theory.\n\n(h) Filing of a financing statement under Article 9 of this\n\ntitle is not notice of a claim of a property right in a controllable\n\nelectronic record.","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":"b992bde3e16dfe7ee0145c5f5f55672eb4e51a95abb3ff1f19846d1d956483dc","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-12-103","next":"us-ok/okla.-stat.-tit.-12a-12a-12-105"},"notice":"GroundRules: Original legal text. Not legal advice."}