{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-7-106","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-7-106","heading":"Control of electronic document of title","body":"Control of Electronic Document of Title.\n\n(a) A person has control of an electronic document of title if\n\na system employed for evidencing the transfer of interests in the\n\nelectronic document reliably establishes that person as the person\n\nto which the electronic document was issued or transferred.\n\n(b) A system satisfies subsection (a) of this section, and a\n\nperson has control of an electronic document of title, if the\n\ndocument is created, stored, and transferred in a manner that:\n\n(1) a single authoritative copy of the document exists which\n\nis unique, identifiable, and, except as otherwise provided in\n\nparagraphs (4), (5), and (6) of this subsection, unalterable;\n\n(2) the authoritative copy identifies the person asserting\n\ncontrol as:\n\n(A) the person to which the document was issued; or\n\n(B) if the authoritative copy indicates that the document\n\nhas been transferred, the person to which the document\n\nwas most recently transferred;\n\n(3) the authoritative copy is communicated to and maintained by\n\nthe person asserting control or its designated custodian;\n\n(4) copies or amendments that add or change an identified\n\ntransferee of the authoritative copy can be made only with the\n\nconsent of the person asserting control;\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\nperson has control of an electronic document of title, if an\n\nauthoritative electronic copy of the document, a record attached to\n\nor logically associated with the electronic copy, or a system in\n\nwhich the electronic copy is recorded:\n\n(1) enables the person readily to identify each electronic copy\n\nas either an authoritative copy or a nonauthoritative copy;\n\n(2) enables the person readily to identify itself in any way,\n\nincluding by name, identifying number, cryptographic key, office, or\n\naccount number, as the person to which each authoritative electronic\n\ncopy was issued or transferred; and\n\n(3) gives the person exclusive power, subject to subsection (d)\n\nof this section, to:\n\n(A) prevent others from adding or changing the person to\n\nwhich each authoritative electronic copy has been\n\nissued or transferred; and\n\n(B) transfer control of each authoritative electronic\n\ncopy.\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 document of title or has a protocol that is\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 person is not shared with another person under\n\nparagraph (2) of subsection (d) of this section and the person's\n\npower is not exclusive if:\n\n(1) the person can exercise the power only if the power also is\n\nexercised 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 person; or\n\n(B) is the transferor to the person of an interest in the\n\ndocument of title.\n\n(f) If a person has the powers specified in subparagraphs (A)\n\nand (B) of paragraph (3) of subsection (c) of this section, the\n\npowers are presumed to be exclusive.\nf the power also is\n\nexercised 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 person; or\n\n(B) is the transferor to the person of an interest in the\n\ndocument of title.\n\n(f) If a person has the powers specified in subparagraphs (A)\n\nand (B) of paragraph (3) of subsection (c) of this section, the\n\npowers are presumed to be exclusive.\n\n(g) A person has control of an electronic document of title if\n\nanother person, other than the transferor to the person of an\n\ninterest in the document:\n\n(1) has control of the document and acknowledges that it has\n\ncontrol on behalf of the person; or\n\n(2) obtains control of the document after having acknowledged\n\nthat it will obtain control of the document on behalf of the person.\n\n(h) A person that has control under this section is not\n\nrequired to acknowledge that it has control on behalf of another\n\nperson.\n\n(i) If a person acknowledges that it has or will obtain control\n\non behalf of another person, unless the person otherwise agrees or\n\nlaw other than this article or Article 9 of this title otherwise\n\nprovides, the person does not owe any duty to the other person and\n\nis not required to confirm the acknowledgment to any other person.","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":"0b186978b6955f911dbea5ab5e0b8a60fb35a8b0f818f06b844eeb4179685bf6","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-7-105.1","next":"us-ok/okla.-stat.-tit.-12a-12a-7-201"},"notice":"GroundRules: Original legal text. Not legal advice."}