{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-8-102","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-8-102","heading":"Definitions","body":"Definitions.\n\n(a) In this article:\n\n(1) \"Adverse claim\" means a claim that a claimant has a\n\nproperty interest in a financial asset and that it is\n\na violation of the rights of the claimant for another\n\nperson to hold, transfer or deal with the financial\n\nasset;\n\n(2) \"Bearer form\", as applied to a certificated security,\n\nmeans a form in which the security is payable to the\n\nbearer of the security certificate according to its\n\nterm but not by reason of an indorsement;\n\n(3) \"Broker\" means a person defined as a broker or dealer\n\nunder the federal securities laws, but without\n\nexcluding a bank acting in that capacity;\n\n(4) \"Certificated security\" means a security that is\n\nrepresented by a certificate;\n\n(5) \"Clearing corporation\" means:\n\n(i) a person that is registered as a \"clearing\n\nagency\" under the federal securities laws;\n\n(ii) a federal reserve bank; or\n\n(iii) any other person that provides clearance or\n\nsettlement services with respect to financial\n\nassets that would require it to register as a\n\nclearing agency under the federal securities laws\n\nbut for an exclusion or exemption from the\n\nregistration requirement, if its activities as a\n\nclearing corporation, including promulgation of\n\nrules, are subject to regulation by a federal or\n\nstate governmental authority;\n\n(6) \"Communicate\" means to:\n\n(i) send a signed record; or\n\n(ii) transmit information by any mechanism agreed upon\n\nby the persons transmitting and receiving the\n\ninformation;\n\n(7) \"Entitlement holder\" means a person identified in the\n\nrecords of a securities intermediary as the person\n\nhaving a security entitlement against the securities\n\nintermediary. If a person acquires a security\n\nentitlement by virtue of paragraph (2) or (3) of\n\nsubsection (b) of Section 8-501 of this title, that\n\nperson is the entitlement holder;\n\n(8) \"Entitlement order\" means a notification communicated\n\nto a securities intermediary directing transfer or\n\nredemption of a financial asset to which the\n\nentitlement holder has a security entitlement;\n\n(9) \"Financial asset\", except as otherwise provided in\n\nSection 8-103 of this title, means:\n\n(i) a security;\n\n(ii) an obligation of a person or a share,\n\nparticipation or other interest in a person or in\n\nproperty or an enterprise of a person, which is,\n\nor is of a type, dealt in or traded on financial\n\nmarkets, or which is recognized in any area in\n\nwhich it is issued or dealt in as a medium for\n\ninvestment; or\n\n(iii) any property that is held by a securities\n\nintermediary for another person in a securities\n\naccount if the securities intermediary has\n\nexpressly agreed with the other person that the\n\nproperty is to be treated as a financial asset\n\nunder this article.\n\nAs context requires, the term means either the\n\ninterest itself or the means by which a person's claim\n\nto it is evidenced, including a certificated or\n\nuncertificated security, a security certificate, or a\n\nsecurity entitlement;\n\n(10) \"Good faith\", for purposes of the obligation of good\n\nfaith in the performance or enforcement of contracts\n\nor duties within this article, means honesty in fact\n\nand the observance of reasonable commercial standards\n\nof fair dealing;\n\n(11) \"Indorsement\" means a signature that alone or\n\naccompanied by other words is made on a security\n\ncertificate in registered form or on a separate\n\ndocument for the purpose of assigning, transferring or\n\nredeeming the security or granting a power to assign,\n\ntransfer, or redeem it;\n\n(12) \"Instruction\" means a notification communicated to the\n\nissuer of an uncertificated security which directs\n\nthat the transfer of the security be registered or\n\nthat the security be redeemed;\n\n(13) \"Registered form\", as applied to a certificate\n\nsecurity, means a form in which:\nurpose of assigning, transferring or\n\nredeeming the security or granting a power to assign,\n\ntransfer, or redeem it;\n\n(12) \"Instruction\" means a notification communicated to the\n\nissuer of an uncertificated security which directs\n\nthat the transfer of the security be registered or\n\nthat the security be redeemed;\n\n(13) \"Registered form\", as applied to a certificate\n\nsecurity, means a form in which:\n\n(i) the security certificate specifies a person\n\nentitled to the security; and\n\n(ii) a transfer of the security may be registered upon\n\nbooks maintained for that purpose by or on behalf\n\nof the issuer, or the security certificate so\n\nstates;\n\n(14) \"Securities intermediary\" means:\n\n(i) a clearing corporation; or\n\n(ii) a person, including a bank or broker, that in the\n\nordinary course of its business maintains\n\nsecurities accounts for others and is acting in\n\nthat capacity;\n\n(15) \"Security\", except as otherwise provided in Section 8-\n\n103 of this title, means an obligation of an issuer or\n\na share, participation, or other interest in an issuer\n\nor in property or an enterprise of an issuer:\n\n(i) which is represented by a security certificate in\n\nbearer or registered form, or the transfer of\n\nwhich may be registered upon books maintained for\n\nthat purpose by or on behalf of the issuer;\n\n(ii) which is one of a class or series or by its terms\n\nis divisible into a class or series of shares,\n\nparticipations, interests, or obligations; and\n\n(iii) which:\n\n(A) is, or is of a type, dealt in or traded on\n\nsecurities exchanges or securities markets;\n\nor\n\n(B) is a medium for investment and by its terms\n\nexpressly provides that it is a security\n\ngoverned by this article;\n\n(16) \"Security certificate\" means a certificate\n\nrepresenting a security;\n\n(17) \"Security entitlement\" means the rights and property\n\ninterest of an entitlement holder with respect to a\n\nfinancial asset specified in Part 5 of this article;\n\nand\n\n(18) \"Uncertificated security\" means a security that is not\n\nrepresented by a certificate.\n\n(b) The following definitions in this article and other\n\narticles apply to this article:\n\n\"Appropriate person\". Section 8-107.\n\n\"Control\". Section 8-106.\n\n\"Controllable account\". Section 1-9-102.\n\n\"Controllable electronic record\". Section 12-102.\n\n\"Controllable payment intangible\". Section 1-9-102.\n\n\"Delivery\". Section 8-301.\n\n\"Investment company security\". Section 8-103.\n\n\"Issuer\". Section 8-201.\n\n\"Overissue\". Section 8-210.\n\n\"Protected purchaser\". Section 8-303.\n\n\"Securities account\". Section 8-501.\n\n(c) In addition, Article 1 contains general definitions and\n\nprinciples of construction and interpretation applicable throughout\n\nthis article.\n\n(d) The characterization of a person, business, or transaction\n\nfor purposes of this article does not determine the characterization\n\nof the person, business, or transaction for purposes of any other\n\nlaw, regulation, or rule.","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":"239f827b41cd878bcca73f99209685ffd556d7407345ae04a504649b11f62e32","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-8-101","next":"us-ok/okla.-stat.-tit.-12a-12a-8-103"},"notice":"GroundRules: Original legal text. Not legal advice."}