{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-8-106","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-8-106","heading":"Control","body":"Control.\n\n(a) A purchaser has \"control\" of a certificated security in\n\nbearer form if the certificated security is delivered to the\n\npurchaser.\n\n(b) A purchaser has \"control\" of a certificated security in\n\nregistered form if the certificated security is delivered to the\n\npurchaser, and:\n\n(1) the certificate is indorsed to the purchaser or in\n\nblank by an effective endorsement; or\n\n(2) the certificate is registered in the name of the\n\npurchaser, upon original issue or registration of\n\ntransfer by the issuer.\n\n(c) A purchaser has \"control\" of an uncertificated security if:\n\n(1) the uncertificated security is delivered to the\n\npurchaser; or\n\n(2) the issuer has agreed that it will comply with\n\ninstructions originated by the purchaser without\n\nfurther consent by the registered owner.\n\n(d) A purchaser has \"control\" of a security entitlement if:\n\n(1) the purchaser becomes the entitlement holder;\n\n(2) the securities intermediary has agreed that it will\n\ncomply with entitlement orders originated by the\n\npurchaser without further consent by the entitlement\n\nholder; or\n\n(3) another person, other than the transferor to the\n\npurchaser of an interest in the security entitlement:\n\n(A) has control of the security entitlement and\n\nacknowledges that it has control on behalf of the\n\npurchaser; or\n\n(B) obtains control of the security entitlement after\n\nhaving acknowledged that it will obtain control\n\nof the security entitlement on behalf of the\n\npurchaser.\n\n(e) If an interest in a security entitlement is granted by the\n\nentitlement holder to the entitlement holder's own securities\n\nintermediary, the securities intermediary has control.\n\n(f) A purchaser who has satisfied the requirements of\n\nsubsection (c) or (d) of this section has control even if the\n\nregistered owner in the case of subsection (c) of this section or\n\nthe entitlement holder in the case of subsection (d) of this section\n\nretains the right to make substitutions for the uncertificated\n\nsecurity or security entitlement, to originate instructions or\n\nentitlement orders to the issuer or securities intermediary, or\n\notherwise to deal with the uncertificated security or security\n\nentitlement.\n\n(g) An issuer or a securities intermediary may not enter into\n\nan agreement of the kind described in paragraph (2) of subsection\n\n(c) or paragraph (2) of subsection (d) of this section without the\n\nconsent of the registered owner or entitlement holder, but an issuer\n\nor a securities intermediary is not required to enter into such an\n\nagreement even though the registered owner or entitlement holder so\n\ndirects. An issuer or securities intermediary that has entered into\n\nsuch an agreement is not required to confirm the existence of the\n\nagreement to another party unless requested to do so by the\n\nregistered owner or entitlement holder.\n\n(h) A person that has control under this section is not\n\nrequired to acknowledge that it has control on behalf of a\n\npurchaser.\n\n(i) If a person acknowledges that it has or will obtain control\n\non behalf of a purchaser, unless the person otherwise agrees or law\n\nother than this article or Article 9 of this title otherwise\n\nprovides, the person does not owe any duty to the purchaser and is\n\nnot 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":"58d4a7975dbc8e1c8031749322e40fa19eea2c4350e1d3b655c748ae8ec76012","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-8-105","next":"us-ok/okla.-stat.-tit.-12a-12a-8-107"},"notice":"GroundRules: Original legal text. Not legal advice."}