OK HB3549

Amends Oklahoma's Uniform Commercial Code (12A O.S. 2021, Sections 8-503 and 8-511) to strengthen protections for entitlement holders of securities held by intermediaries

Removes the exception allowing creditors of a securities intermediary who have "control" over a financial asset to claim priority over entitlement holders

Eliminates the provision giving clearing corporation creditors with security interests priority over entitlement holders' claims to financial assets

Establishes that entitlement holders' claims will have priority over creditors' security interests when a securities intermediary lacks sufficient assets to satisfy both obligations

Effective date: November 1, 2026