{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-8-510","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-8-510","heading":"Rights of Purchaser of Security Entitlement from","body":"Entitlement Holder.\n\nRights of Purchaser of Security Entitlement from Entitlement\n\nHolder.\n\n(a) In a case not covered by the priority rules in Article 9 or\n\nthe rules stated in subsection (c), an action based on an adverse\n\nclaim to a financial asset or security entitlement, whether framed\n\nin conversion, replevin, constructive trust, equitable lien, or\n\nother theory, may not be asserted against a person who purchases a\n\nsecurity entitlement, or an interest therein, from an entitlement\n\nholder if the purchaser gave value, does not have notice of the\n\nadverse claim, and obtains control.\n\n(b) If an adverse claim could not have been asserted against an\n\nentitlement holder under Section 8-502 of this title, the adverse\n\nclaim cannot be asserted against a person who purchases a security\n\nentitlement, or an interest therein, from the entitlement holder.\n\n(c) In a case not covered by the priority rules in Article 9 of\n\nthis code, a purchaser for value of a security entitlement, or an\n\ninterest therein, who obtains control has priority over a purchaser\n\nof a security entitlement, or an interest therein, who does not\n\nobtain control. Except as otherwise provided in subsection (d) of\n\nthis section, purchasers who have control rank according to priority\n\nin time of:\n\n(1) the purchaser’s becoming the person for whom the securities\n\naccount, in which the security entitlement is carried, is\n\nmaintained, if the purchaser obtained control under paragraph (1) of\n\nsubsection (d) of Section 8-106 of this title;\n\n(2) the securities intermediary’s agreement to comply with the\n\npurchaser’s entitlement orders with respect to security entitlements\n\ncarried or to be carried in the securities account in which the\n\nsecurity entitlement is carried, if the purchaser obtained control\n\nunder paragraph (2) of subsection (d) of Section 8-106 of this\n\ntitle; or\n\n(3) if the purchaser obtained control through another person\n\nunder paragraph (3) of subsection (d) of Section 8-106 of this\n\ntitle, the time on which priority would be based under this\n\nsubsection if the other person were the secured party.\n\n(d) A securities intermediary as purchaser has priority over a\n\nconflicting purchaser who has control unless otherwise agreed by the\n\nsecurities intermediary.","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":"4ed318a2a244bbd151cf17c34b6261f7b1a8ec55d71b72fd7eed9ea64eab9cb7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-8-509","next":"us-ok/okla.-stat.-tit.-12a-12a-8-511"},"notice":"GroundRules: Original legal text. Not legal advice."}