{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-3-420","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-3-420","heading":"Conversion of Instrument","body":"CONVERSION OF INSTRUMENT\n\n(a) The law applicable to conversion of personal property\n\napplies to instruments. An instrument is also converted if it is\n\ntaken by transfer, other than a negotiation, from a person not\n\nentitled to enforce the instrument or a bank makes or obtains\n\npayment with respect to the instrument for a person not entitled to\n\nenforce the instrument or receive payment. An action for conversion\n\nof an instrument may not be brought by (i) the issuer or acceptor of\n\nthe instrument or (ii) a payee or indorsee who did not receive\n\ndelivery of the instrument either directly or through delivery to an\n\nagent or a co-payee.\n\n(b) In an action under subsection (a) of this section, the\n\nmeasure of liability is presumed to be the amount payable on the\n\ninstrument, but recovery may not exceed the amount of the\n\nplaintiff's interest in the instrument.\n\n(c) A representative, other than a depositary bank, who has in\n\ngood faith dealt with an instrument or its proceeds on behalf of one\n\nwho was not the person entitled to enforce the instrument is not\n\nliable in conversion to that person beyond the amount of any\n\nproceeds that it has not paid out.","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":"218ce9ea6aa0a9916db0c9f27daa210ab1a9aef31e8e9feab008a9d68d9ae7c2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-3-419","next":"us-ok/okla.-stat.-tit.-12a-12a-3-501"},"notice":"GroundRules: Original legal text. Not legal advice."}