Title 6. Banks and Trust Companies

§6-101. Short title.
§6-102. Definitions.
§6-104. Effect on existing banks and trust companies - Registration of bank or trust-related activities.
§6-201. Establishment - Officers and employees.
§6-201.1. Compensation of Commissioner.
§6-202. Board membership and meetings.
§6-203. Powers of Board.
§6-204. Powers of Commissioner – Review of orders.
§6-205. Access of Commissioner and Board to records of Department.
§6-206. Power to subpoena witnesses - Declaratory order - Good faith as a defense.
§6-207. Judicial review of orders of the Board or Commissioner.
§6-208. Records of Department - Public inspection – Confidentiality – Electronic storage.
§6-208.1. Availability of personnel data – Confidentiality - Definitions.
§6-209. Bank and trust companies - Examinations and reports.
§6-210. Removal of officer, director or employee of bank or trust company by Commissioner.
§6-211. Fees and assessments.
§6-211.1. Revolving fund - Creation.
§6-212. Commissioner's annual report.
§6-213. Interests of department officers or employees in banks or trust companies.
§6-214. Bank and trust company records - Preservation - Reproduction.
§6-215. Limitation of liability.
§6-216. Standards in regulations, orders and rules.
§6-218. Transfer of stock or controlling interest - Notice to and approval by Commissioner.
§6-219. Changes in chief executive officer and directors.
§6-220. Impairment of capital - Assessments - Limitations.
§6-301. Certificate of authority.
§6-303. Incorporators - Fee.
§6-303.1. Capital structure - Preferred stock.
§6-304. Expenses of organization.
§6-305. Application for authority to engage in banking or trust company business - Contents - Oath - Proposed certificate of incorporation.
§6-306.1. Commissioner – Certificate of authority – Recommendation of action.
§6-306.2. Acceptance of application for filing - Notice.
§6-307.1. Objectives of Commissioner and Banking Board - Comments or objections.
§6-308. Hearing before Commissioner.
§6-309. Public charter application file - Contents - Availability - Findings and conclusions - Objections.
§6-310. Board hearing on application - Condition - Approval - Notice.
§6-311. Appeal of Board's decision.
§6-311.1. Existing certificate of incorporation for which no certificate of authority is outstanding.
§6-312. Issuance of certificate of incorporation - Shareholders meeting – Filing of verified application for certificate - Contents.
§6-313. Return of defective application or documents - Approval or denial of application - Issuance of certificate of authority - Revocation of powers and cancellation of certificate of incorporation.
§6-401. Organization of new bank or trust company.
§6-402. Powers of banks and trust companies.
§6-402.1. Chartering of banker's bank.
§6-403.1. Membership in Federal Reserve System.
§6-404. Federal Deposit Insurance Corporation Act - Acts permitted for compliance therewith.
§6-405. Increase or decrease of capital stock - Procedure - Reduction of capital stock - Surrender of certificate.
§6-405.1. Authorized but unissued stock.
§6-405.2. Employee stock option and stock purchase plans.
§6-406. Amendments - Change of name - Change in location - Change in number and par value of shares - Bank's abandonment of trust powers - Right of dissent.
§6-407. Amendment - Trust powers.
§6-408. Amendment of existing articles of incorporation with certificate of incorporation.
§6-409. Dividends.
§6-410. Capital debentures - Rediscounting notes to Federal Reserve.
§6-411. Pledge of assets - Banks.
§6-412. Signature guaranty.
§6-414. Acquisition of real estate - Term held - Equipment, furniture and fixtures - Leases of real estate and equipment - Investment and loans to corporations holding premises - Conveyance of real estate.
§6-415. Drive-in or walk-up facilities.
§6-416. Bank service corporations.
§6-421. Military banking facilities.
§6-422. Consumer banking electronic facilities.
§6-423. Operations centers.
§6-424. Origination of loans at locations other than main office or branch office – Out-of-state banks – Loan and deposit production offices.
§6-425. Fiduciary relationships.
§6-426. Agency relationships between subsidiary banks.
§6-427. Bank or trust institution serving as trustee of certain bond issues - Representative trust office.
§6-501.1. Interstate mergers and acquisitions – De novo branches – Interstate reciprocity – Establishment and acquisition of branch banks.
§6-501.2. Certificate to establish and operate a branch or relocate a branch – Application – Existing branches and detached facilities – Temporary branches – Deposit limitations – Construction with Title 6, Sections 421 and 422.
§6-502. Bank holding companies.
§6-502.1. Interim state banks - Application - Prefiling meeting - Acceptance of application - Merger or consolidation.
§6-503. Trust companies - Branch offices.
§6-506. Out-of-state bank holding companies - Acquisitions.
§6-510. Short title.
§6-511. Industrial loan company - Industrial bank - Definition.
§6-512. Out-of-state companies or banks - Reciprocity requirement - Certificate for establishment or relocation of branch.
§6-513. Severability.
§6-601. Business days and hours.
§6-602.1. Detached facilities, branch offices, deposit production offices and loan production offices - Business days and hours.
§6-603. Emergency closing.
§6-702. Liability of fiduciaries owning stock.
§6-703. Liability of preferred shareholders.
§6-705. Transfer of shares - Law governing.
§6-706. Stock as personalty - Transfer on books - Shareholders indebted to bank or trust company - Lending on stock prohibited - Purchase of treasury stock.
§6-707. Issuance of preferred stock - Classes - Procedure - Reduction of common stock and issuance of preferred stock - One meeting - Preferred stock as capital.
§6-708. Common stock dividend on retirement of preferred stock.
§6-709. Rights of preferred shareholders - Dividends - Voting and conversion rights.
§6-710. Stockholders' meetings - Cumulative voting - Proxies - Voting trusts - Preemptive rights - Examination of stockbook.
§6-711. Directors and officers - Banks and trust companies.
§6-711.1. Transferred employees - Purchase of former residence by bank.
§6-712. Liability of directors, officers, and other persons - Overdrafts.
§6-712.1. Indemnification for defending suits - Directors' personal liability eliminated or limited.
§6-713. Fidelity bonds and other insurance.
§6-714. Directors - Meetings and duties.
§6-715. Applicability of Oklahoma General Corporation Act.
§6-801. Reserves.
§6-802. Limitations on maximum indebtedness to bank - Exceptions.
§6-803. Real estate loans.
§6-805. Prohibition on bank employing funds in trade or commerce - Sale of personal property - Leasing of personal property - Acquisition of leased personal property.
§6-806. Investments - Underwriting - Limitations.
§6-807. Sale and purchase of loans.
§6-808. Banks prohibited from making political contributions - Penalties.
§6-809. Prohibited acts - Penalties - Injunctions.
§6-901. Deposits in name of two or more persons – “Payable on Death” deposit accounts - Forms of deposit accounts included.
§6-902. Trustee deposit accounts.
§6-903.1. Deposit accounts for minors.
§6-904. Stockholder, director, officer or employee of bank as notary public - Administration of oaths - Protests - Notary fee.
§6-905. Adverse claims to deposits - Restraining order or injunction - Indemnity bond.
§6-906. Transfer to known heirs of deceased without designated beneficiary — Affidavit — Release and discharge — False affidavit.
§6-907. Husband and wife deposit for business purpose - Sole proprietorship account.
§6-1001. Powers of trust companies.
§6-1001.1. Temporary borrowing powers of trust companies.
§6-1002. Restrictions on acting in certain fiduciary capacities - Reciprocity.
§6-1003. Advertising performance of legal services prohibited.
§6-1004. Deposits of securities with Commissioner.
§6-1005. Banks having trust powers and trust companies not required to give security as trustee, etc.
§6-1006. Separation of books and accounts - Labeling securities - Prohibited operations of banks and trust companies having trust powers.
§6-1007. Lien and claim upon bank failure.
§6-1008. Investments - Acceptance as securities by public officials of this state.
§6-1009. Official's oath or affidavit.
§6-1010. Common trust funds.
§6-1011. Loans of trust funds to officers and employees prohibited.
§6-1012. Banks having trust powers and trust companies subject to examination and supervision of Commissioner.
§6-1013. Disclosure of communications and writings prohibited - Exceptions.
§6-1014. Closing of trust unduly delayed.
§6-1015. Banks authorized to engage in trust business - Powers - Restrictions.
§6-1016. Service charges not part of interest on loans.
§6-1017. Voluntary relinquishment of trust powers.
§6-1018. Voluntary or involuntary liquidation or receivership.
§6-1019. Merger, consolidation and sale of assets.
§6-1020. Existing trust powers of religious, charitable, etc. corporations not denied.
§6-1021. Liquidation, dissolution and reorganization of trust companies.
§6-1022. Banks, trust companies and national banking associations - Registration in name of nominee securities held in fiduciary capacity.
§6-1023. Deposit of securities in clearing corporation or Federal Reserve Bank.
§6-1024. Acquisition of control of trust company - Notice - Approval - Review - Penalties.
§6-1101. Merger or conversion.
§6-1102. Approval of merger by directors and merger agreement.
§6-1103. Approval by Board.
§6-1104. Stockholder approval - Notice requirements - Rights of dissenters - Appraisal expense - Valuation and payment of dissenting shares.
§6-1105. Effective date of merger, filing of approved agreement, certificate of merger as evidence.
§6-1106. Continuation of corporate entity.
§6-1107. Conversion from state bank to national and of national to state bank, and trust powers.
§6-1108. Nonconforming assets of business.
§6-1109. Sale or purchase of all assets of bank, trust company or savings association or of department or branch thereof.
§6-1109.1. Sale of assets other than in the ordinary course of business.
§6-1110. Book value of assets.
§6-1111. Merger with parent bank holding company, nonbank subsidiary of parent bank holding company or subsidiary.
§6-1201. Voluntary liquidation and dissolution.
§6-1202. Involuntary liquidation by Commissioner - Reorganization.
§6-1203. Reorganization.
§6-1204. Liquidation by Commissioner - Procedure.
§6-1205. Federal Deposit Insurance Corporation as liquidator.
§6-1206. Conservator.
§6-1207. Transfer or conveyance of title to mineral interests or leases.
§6-1301. Definitions.
§6-1301.1. Appointment of deputy.
§6-1301.2. Authorization for access to safe deposit box upon death of lessee.
§6-1302. Authority to lease safe deposit boxes.
§6-1303. Access by fiduciaries.
§6-1304. Effect of lessee's death or incompetence.
§6-1305. Lease to minor.
§6-1306. Lease to corporation, general or limited partnership, or limited liability company.
§6-1307. Assumed names.
§6-1308. Search procedure on death - Removal of certain contents.
§6-1309. Adverse claims to contents of safe deposit box.
§6-1310. Lien of lessor, special remedies and proceedings for nonpayment of rent.
§6-1311. Limitation of liability - Requirements or policies.
§6-1312. Garnishment - Proceedings in aid of execution.
§6-1313. Estate taxes or rights of state or tax commission not affected.
§6-1401. Transaction of banking business not authorized by law - Unauthorized use of words bank, trust, etc. - Injunction and appointment of receiver - Acceptance of filings by Secretary of State.
§6-1403. Unlawful use of words "safe deposit".
§6-1405. Unlawful gratuity or compensation - Transactions of persons connected with bank.
§6-1406. Receipt of deposit after notification of insolvency.
§6-1407. Unlawful service as officer or director.
§6-1408. Unlawful service as Commissioner, Deputy Commissioner, Administrative Assistant, Assistant Commissioner.
§6-1409. Unlawful concealment of transactions.
§6-1410. Improper maintenance of accounts - False or deceptive entries and statements.
§6-1411. Unlawful payment of penalties and judgments against others, including directors and officers.
§6-1412. Embezzlement or misapplication of funds.
§6-1413. Libel and slander.
§6-1414. Criminal sanctions, violations of rules and orders - Nonapplicability where criminal sanctions imposed in other sections of Code.
§6-1415. Injunction.
§6-1416. Prohibitions relating to control of banks - Remedies.
§6-1417. Advertisement of confusingly similar names or shortened names - Use of former name of acquired institution or office - Commissioner's remedies - Injunctions - Nonconforming previous use or advertisement.
§6-1418. Use of lender’s name, trade name or trademark – Use of loan number, loan amount or other information – Reference to lender – Injunction – Exemptions.
§6-1511. Short title.
§6-1512. Definitions
§6-1513. Registration application - License - List of persons given money transmitter equipment - Fees - Violation and punishment
§6-1514. Information-sharing agreements - Records.
§6-1515. Rules - Interpretive statements and opinions.
§6-1600. International Bank Act - Short title.
§6-1601. Definitions.
§6-1602. Applicability of state banking laws.
§6-1603. Applicability of Oklahoma General Corporation Act.
§6-1604. Requirements for carrying on banking business.
§6-1605. Application for license - Approval or disapproval.
§6-1606. Licenses - Permissible activities.
§6-1607. International administrative offices.
§6-1608. Asset maintenance or capital equivalency.
§6-1609. Certification of capital accounts.
§6-1610. Lending limits.
§6-1611. Reports and records.
§6-1612. Conversion from a federal agency to a state chartered agency and the reverse.
§6-1613. Dissolution.
§6-1614. Representative offices - Limitations - Licenses - Fees.
§6-1615. Rules - Exemption from economic impact statement requirements.
§6-1616. Foreign travel expenses.
§6-1621. Task Force for the Study of State Banking Services.
§6-1701. Short title - Intent.
§6-1702. Definitions.
§6-1703. Rules.
§6-1704. Severability.
§6-1705. Companies authorized to act as fiduciary.
§6-1706. Certain activities not requiring charter.
§6-1707. State trust institutions - Business locations.
§6-1708. Out-of-state trust institutions - Business locations.
§6-1709. Registration of name.
§6-1710. Authority to operate trust business.
§6-1711. Engaging in trust business at branch locations permitted - Certain business at representative trust offices prohibited - Limitations on business at out-of-state offices.
§6-1712. Principal office.
§6-1713. Establishment of additional offices in this state.
§6-1714. Establishment of additional offices outside of this state.
§6-1715. Out-of-state trust institutions permitted to engage in trust business.
§6-1716. Establishment of new trust offices by out-of-state institutions permitted.
§6-1717. Acquisition of trust offices by out-of-state trust institutions permitted.
§6-1718. Notice of intent to establish or acquire trust office by out-of-state trust institution.
§6-1719. Approval of establishment or acquisition of office by out-of-state institution.
§6-1720. Establishment of additional offices by out-of-state institutions.
§6-1721. Out-of-state institutions prohibited from acting as fiduciaries - Engaging in trust business at representative trust office permitted.
§6-1722. Establishment or acquisition of representative trust offices.
§6-1723. Examination of out-of-state trust institutions.
§6-1724. Enforcement actions.
§6-1725. Notice of change of control, substantial transfer of trust assets or closure.
§6-1730. Short title - Purpose.
§6-1731. Definitions.
§6-1732. Designation of trust institution as fiduciary.
§6-1733. Written agreements or instruments - Designation of law governing.
§6-1734. Fiduciary investment standards - Designation of law governing.
§6-1735. Delegation of fiduciary functions.
§6-1736. Hiring and compensation of affiliates.
§6-1737. Compensation arrangements between clients and fiduciaries.
§6-1738. Disclosure of conflicts of interest.
§6-1739. Acquisition of state trust company or trust institution.
§6-1740. Application of act - Exemptions.
§6-1741. Application for exemption - Maintenance of exempt status - Change of control - Revocation of exempt status - Enforcement proceedings.
§6-1755. Conversion to public trust company.
§6-2001. Definitions.
§6-2001.1. Oklahoma State Credit Union Board - Creation.
§6-2001.2. Powers of Board - Administrator - Powers and duties - Failure to comply with Commissioner's orders or requirements.
§6-2001.3. Meetings of Board - Quorum.
§6-2001.4. Civil liability of State Credit Union Board members.
§6-2002. Necessity of certificate - Application for certificate - Organization certificate and bylaws.
§6-2003. Investigation and report by Bank Commissioner - Certificate of approval - Certificate of incorporation.
§6-2004.1. Out-of-state credit union - Requirements to conduct business in state - Revocation of approval - Cancellation of certificate.
§6-2005. Unlawful transaction of business - Enforcement by Attorney General - Injunction and receiver.
§6-2006. Succession - Powers.
§6-2007. Membership - Central credit unions.
§6-2008. Examinations - Reports - Access to information - Alternative examination or report - Failure to make and transmit or publish report - Certificate and bylaw forms - Annual financial report.
§6-2009. Fiscal year - Meetings - Voting.
§6-2010. Board of directors - Credit committee or credit manager - Supervisory committee - Officers.
§6-2012. Expulsions and withdrawals.
§6-2013. Dividends.
§6-2014. Shares and deposits in name of minors - Shares not subject to stock transfer tax.
§6-2015. Partial invalidity - Right of alteration, amendment or repeal.
§6-2016. Credit unions composed of public employees, retirees and family members - Space in public buildings.
§6-2017. Fiscal agency for state.
§6-2018. Voluntary dissolution.
§6-2018.1. Suspension of operation of credit union - Revocation of certificate - Liquidation - Disposition of assets.
§6-2018.2. Appointment of conservator and agents - Judicial relief - Term of conservatorship - Expenses - Commissioner's authority.
§6-2019.1. Maintenance of books, records, accounting systems and procedures - Destruction of records - Records as evidence.
§6-2020. Special Reserve for Dormant Accounts.
§6-2021. Conversion of credit unions.
§6-2022. Merger of credit unions.
§6-2023. Exercising power of federally chartered credit union - Exceptions.
§6-2024. Joint tenancy shares and deposits.
§6-2025. Share or deposit account payable on death – Application.
§6-2026. Trust shares.
§6-2027. Certain records designated as public records - Confidential records - Disclosure of confidential information.
§6-2041. Power to make and purchase obligations representing insured loans and credit advances.
§6-2042. Investments by fiduciaries, political subdivisions, corporations, etc. - Investment of public funds.
§6-2043. Inconsistent laws inapplicable to loans or investments authorized.
§6-2101. Citation.
§6-2102. Definitions.
§6-2103. Licenses - Requirement - Exceptions - Penalty.
§6-2104. Exempt transactions
§6-2105. Application for license.
§6-2106. Investigation of applicants.
§6-2107. Annual license fees - Renewals - Display of license certificate - Exception.
§6-2108. Surety bond or irrevocable letter of credit.
§6-2109. Additional bond - Deposit of securities in lieu of bond.
§6-2110. Minimum net worth.
§6-2111. Semi-annual reports.
§6-2112. Books, accounts and records - Current financial statements.
§6-2113. Examination of books and records - Audits.
§6-2114. Investigation upon noncompliance with act.
§6-2115. Conduct of business - Location - Agents - Conditions.
§6-2116. Revocation of license - Hearing - Grounds.
§6-2117. Power of subpoena - Designation of hearing officer.
§6-2118. Judicial review.
§6-2119. Giving of notice.
§6-2120. Rules and regulations.
§6-2121. Penalties.
§6-2123. Proceeds of sales of checks by agents - Exemption from attachment, levy of execution, or sequestration - Assignment to Commissioner.
§6-2124. Acts required of licensees - Deadline - Exception.
§6-2201. Short title.
§6-2202. Definitions.
§6-2203. Financial institutions prohibited from disclosing financial records unless.
§6-2204. Subpoena of financial records.
§6-2205. Disclosures or releases authorized.
§6-2206. Costs of assembling, reproducing or providing financial records.
§6-2207. Search warrants.
§6-2208. Certification of compliance by government authorities - Immunity from liability for good faith reliance upon certificate.
§6-3001. Records - Electronic or microphotographic reproduction - Evidence.
§6-3002. Compliance review documents - Confidentiality - Discovery or admissibility.
§6-3003. Negotiation services - Interest income as valuable consideration.
§6-3010. Definition - Form - Fees - Rules.