{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-910.11","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-910.11","heading":"Duties of bank","body":"A. A bank does not have a fiduciary duty to any person with\n\nrespect to a special deposit.\n\nB. When the bank holding a special deposit becomes obligated to\n\npay a beneficiary, a debtor-creditor relationship arises between the\n\nbank and beneficiary.\n\nC. The bank holding a special deposit has a duty to a\n\nbeneficiary to comply with the account agreement and this act.\n\nD. If the bank holding a special deposit does not comply with\n\nthe account agreement or this act, the bank is liable to a depositor\n\nor beneficiary only for damages proximately caused by the\n\nnoncompliance. Except as provided by other law of this state, the\n\nbank is not liable for consequential, special, or punitive damages.\n\nE. The bank holding a special deposit may rely on records\n\npresented in compliance with the account agreement to determine\n\nwhether the bank is obligated to pay a beneficiary.\n\nF. If the account agreement requires payment on presentation of\n\na record, the bank shall determine within a reasonable amount of\n\ntime whether the record is sufficient to require payment. If the\n\nagreement requires action by the bank on presentation of a record,\n\nthe bank is not liable for relying in good faith on the genuineness\n\nof the record if the record appears on its face to be genuine.\n\nG. Unless the account agreement provides otherwise, the bank is\n\nnot required to determine whether a permissible purpose stated in\n\nthe agreement continues to exist.","path":["OK Code","Title 6"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os6.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"a36e7b880da3166d224b5f46fb774bb2d4bfb686b094f65111e4579d7e1f4470","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-910.10","next":"us-ok/okla.-stat.-tit.-6-6-910.12"},"notice":"GroundRules: Original legal text. Not legal advice."}