{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-4-216","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-4-216","heading":"Insolvency and Preference","body":"INSOLVENCY AND PREFERENCE\n\n(a) If an item is in or comes into the possession of a payor or\n\ncollecting bank that suspends payment and the item has not been\n\nfinally paid, the item must be returned by the receiver, trustee, or\n\nagent in charge of the closed bank to the presenting bank or the\n\nclosed bank's customer.\n\n(b) If a payor bank finally pays an item and suspends payments\n\nwithout making a settlement for the item with its customer or the\n\npresenting bank which settlement is or becomes final, the owner of\n\nthe item has a preferred claim against the payor bank.\n\n(c) If a payor bank gives or a collecting bank gives or\n\nreceives a provisional settlement for an item and thereafter\n\nsuspends payments, the suspension does not prevent or interfere with\n\nthe settlement's becoming final if the finality occurs automatically\n\nupon the lapse of certain time or the happening of certain events.\n\n(d) If a collecting bank receives from subsequent parties\n\nsettlement for an item, which settlement is or becomes final and the\n\nbank suspends payments without making a settlement for the item with\n\nits customer which settlement is or becomes final, the owner of the\n\nitem has a preferred claim against the collecting bank.","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":"f7a37106f12eebe5e1514cb6b8dfcdc39e1b89f510827cce58cbcc3e1e88a4fe","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-4-215","next":"us-ok/okla.-stat.-tit.-12a-12a-4-301"},"notice":"GroundRules: Original legal text. Not legal advice."}