{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-4a-502","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-4A-502","heading":"Creditor process served on receiving bank; setoff by","body":"beneficiary's bank.\n\nCREDITOR PROCESS SERVED ON RECEIVING BANK; SETOFF BY\n\nBENEFICIARY'S BANK\n\n(a) As used in this section, \"creditor process\" means levy,\n\nattachment, garnishment, notice of lien, sequestration, or similar\n\nprocess issued by or on behalf of a creditor or other claimant with\n\nrespect to an account.\n\n(b) This subsection applies to creditor process with respect to\n\nan authorized account of the sender of a payment order if the\n\ncreditor process is served on the receiving bank. For the purpose\n\nof determining rights with respect to the creditor process, if the\n\nreceiving bank accepts the payment order the balance in the\n\nauthorized account is deemed to be reduced by the amount of the\n\npayment order to the extent the bank did not otherwise receive\n\npayment of the order, unless the creditor process is served at a\n\ntime and in a manner affording the bank a reasonable opportunity to\n\nact on it before the bank accepts the payment order.\n\n(c) If a beneficiary's bank has received a payment order for\n\npayment to the beneficiary's account in the bank, the following\n\nrules apply:\n\n(1) The bank may credit the beneficiary's account. The amount\n\ncredited may be set off against an obligation owed by the\n\nbeneficiary to the bank or may be applied to satisfy creditor\n\nprocess served on the bank with respect to the account.\n\n(2) The bank may credit the beneficiary's account and allow\n\nwithdrawal of the amount credited unless creditor process with\n\nrespect to the account is served at a time and in a manner affording\n\nthe bank a reasonable opportunity to act to prevent withdrawal.\n\n(3) If creditor process with respect to the beneficiary's\n\naccount has been served and the bank has had a reasonable\n\nopportunity to act on it, the bank may not reject the payment order\n\nexcept for a reason unrelated to the service of process.\n\n(d) Creditor process with respect to a payment by the\n\noriginator to the beneficiary pursuant to a funds transfer may be\n\nserved only on the beneficiary's bank with respect to the debt owed\n\nby that bank to the beneficiary. Any other bank served with the\n\ncreditor process is not obliged to act with respect to the process.","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":"6ef6bd711c8919af7e654d7a3f3227be247ab79ce5ab22389915a021ad77e232","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-4a-501","next":"us-ok/okla.-stat.-tit.-12a-12a-4a-503"},"notice":"GroundRules: Original legal text. Not legal advice."}