Oklahoma § 6-910.3 Variation by agreement — When permitted.

Oklahoma Statutes

§ 6-910.3 — Variation by agreement — When permitted.

Oklahoma·Title 6 Banks And Trust Companies

A.The effect of Sections 2 through 6, 8 through 11, and Section 13 of this act may not be varied by agreement, except as provided in those sections. Subject to subsection B of this section, the effects of Sections 7, 12, and 13 of this act may be varied by agreement.

B.A provision in an account agreement or other record that substantially excuses liability or substantially limits remedies for failure to perform an obligation under this act is not sufficient to vary the effect of a provision of this act.

C.If a beneficiary is a party to an account agreement, the bank and the depositor may amend the agreement without the consent of the beneficiary only if the agreement expressly permits the amendment.

D.If a beneficiary is not a party to an agreement and the bank and the depositor know t

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A. The effect of Sections 2 through 6, 8 through 11, and Section 13 of this act may not be varied by agreement, except as provided in those sections. Subject to subsection B of this section, the effects of Sections 7, 12, and 13 of this act may be varied by agreement. B. A provision in an account agreement or other record that substantially excuses liability or substantially limits remedies for failure to perform an obligation under this act is not sufficient to vary the effect of a provision of this act. C. If a beneficiary is a party to an account agreement, the bank and the depositor may amend the agreement without the consent of the beneficiary only if the agreement expressly permits the amendment. D. If a beneficiary is not a party to an agreement and the bank and the depositor know the beneficiary has knowledge of the agreement’s terms, the bank and the depositor may amend the agreement without the consent of the beneficiary only if the amendment does not adversely and materially affect a payment right of the beneficiary. E. If a beneficiary is not a party to an account agreement and the bank and the depositor do not know whether the beneficiary has knowledge of the agreement’s terms, the bank and the depositor may amend the agreement without the consent of the beneficiary only if the amendment is made in good faith.

Oklahoma § 6-910.3 (Variation by agreement — When permitted.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.