{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-8-107","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-8-107","heading":"Whether Indorsement, Instruction, or Entitlement Order","body":"is Effective.\n\nWhether Indorsement, Instruction, or Entitlement Order is\n\nEffective.\n\n(a) \"Appropriate person\" means:\n\n(1) with respect to an indorsement, the person specified\n\nby a security certificate or by an effective special\n\nindorsement to be entitled to the security;\n\n(2) with respect to an instruction, the registered owner\n\nof an uncertificated security;\n\n(3) with respect to an entitlement order, the entitlement\n\nholder;\n\n(4) if the person designated in paragraph (1), (2) or (3)\n\nof this subsection is deceased, the designated\n\nperson's successor taking under other law or the\n\ndesignated person's personal representative acting for\n\nthe estate of the decedent; or\n\n(5) if the person designated in paragraph (1), (2) or (3)\n\nof this subsection lacks capacity, the designated\n\nperson's guardian, conservator, or other similar\n\nrepresentative who has power under other law to\n\ntransfer the security or financial asset.\n\n(b) An indorsement, instruction, or entitlement order is\n\neffective if:\n\n(1) it is made by the appropriate person;\n\n(2) it is made by a person who has power under the law of\n\nagency to transfer the security or financial asset on\n\nbehalf of the appropriate person, including, in the\n\ncase of an instruction or entitlement order, a person\n\nwho has control under paragraph (2) of subsection (c)\n\nor paragraph (2) of subsection (d) of Section 8-106 of\n\nthis title; or\n\n(3) the appropriate person has ratified it or is otherwise\n\nprecluded from asserting its ineffectiveness.\n\n(c) An indorsement, instruction, or entitlement order made by a\n\nrepresentative is effective even if:\n\n(1) the representative has failed to comply with a\n\ncontrolling instrument or with the law of the state\n\nhaving jurisdiction of the representative\n\nrelationship, including any law requiring the\n\nrepresentative to obtain court approval of the\n\ntransaction; or\n\n(2) the representative's action in making the indorsement,\n\ninstruction, or entitlement order or using the\n\nproceeds of the transaction is otherwise a breach of\n\nduty.\n\n(d) If a security is registered in the name of or specially\n\nindorsed to a person described as a representative, or if a\n\nsecurities account is maintained in the name of a person described\n\nas a representative, an indorsement, instruction, or entitlement\n\norder made by the person is effective even though the person is no\n\nlonger serving in the described capacity.\n\n(e) Effectiveness of an indorsement, instruction, or\n\nentitlement order is determined as of the date the indorsement,\n\ninstruction, or entitlement order is made, and an indorsement,\n\ninstruction, or entitlement order does not become ineffective by\n\nreason of any later change of circumstances.","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":"ac7a127bcb6557bf1acebe8f36256ec2cfe82f473b94af47d261f7ff065c199d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-8-106","next":"us-ok/okla.-stat.-tit.-12a-12a-8-108"},"notice":"GroundRules: Original legal text. Not legal advice."}