{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-910.6","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-910.6","heading":"Payment to beneficiary by bank — Obligation — Discharge","body":"A. Unless the account agreement provides otherwise, the bank is\n\nobligated to pay a beneficiary if there are sufficient actually and\n\nfinally collected funds in the balance of the special deposit.\n\nB. Except as provided in subsection C of this section, the\n\nobligation to pay the beneficiary is excused if the funds available\n\nin the special deposit are insufficient to cover such payment.\n\nC. Unless the account agreement provides otherwise, if the\n\nfunds available in the special deposit are insufficient to cover an\n\nobligation to pay a beneficiary, a beneficiary may elect to be paid\n\nthe funds that are available or, if there is more than one\n\nbeneficiary, a pro rata share of the funds available. Payment to\n\nthe beneficiary making the election under this subsection discharges\n\nthe bank’s obligation to pay a beneficiary and does not constitute\n\nan accord and satisfaction with respect to another person obligated\n\nto the beneficiary.\n\nD. Unless the account agreement provides otherwise, the\n\nobligation of the bank obligated to pay a beneficiary is immediately\n\ndue and payable.\n\nE. The bank may discharge its obligation under this section by:\n\n1. Crediting another transaction account of the beneficiary; or\n\n2. Taking other action that:\n\na. is permitted under the account agreement for the bank\n\nto obtain a discharge, or\n\nb. otherwise would constitute a discharge under law.\n\nF. If the bank obligated to pay a beneficiary has incurred an\n\nobligation to discharge that obligation of another person, the\n\nobligation of the other person is discharged if action by the bank\n\nunder subsection E of this section would constitute a discharge of\n\nthe obligation of the other person under law that determined whether\n\nan obligation is satisfied.","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":"c91ede3aab3f841a2a02bfa35bcd452a2bc6a6271bc8d78a62803e0ea1534a28","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-910.5","next":"us-ok/okla.-stat.-tit.-6-6-910.7"},"notice":"GroundRules: Original legal text. Not legal advice."}