Okla. Stat. tit. 12A, § 8-403
Oklahoma Code Comment
This Section is new. It permits the registered owner, but not third parties, to demand that the issuer not register a transfer. It constitutes an exception to the normal requirements of obtaining legal process to prohibit transfers. See UCC § 8-404. The exception is intended to assist actual owners who have perhaps lost or misplaced their certificates or had them stolen. Consequently, the registered owner need not seek an indemnity bond or legal process prior to sending notification to the issuer not to register transfers. If, however, after prior notice by the registered owner not to transfer, the original certificate is presented for registration of transfer, then the issuer is required to notify the registered owner of that fact and defer registration for a period not exceeding 30 days. This provides the registered owner an opportunity to obtain the necessary legal process or post an indemnity bond to prevent the issuer from registering transfer. See UCC § 8-403(b). See also UCC § 8-404, Oklahoma Comment.
Prior Statutory Provisions:
Cf. pre-revision UCC § 8-403.