reglab/housing_qa huggingface dataset:
6 OK Stat § 6-1101 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1101. Merger or conversion.

|A. Resulting State Bank. Upon approval of the Board, banks or savings associations may be merged with or converted into a resulting state bank as hereafter prescribed, except that the action by a constituent national bank or federal savings association shall be taken in the manner prescribed by and shall be subject to any limitation or requirements imposed by any law of the United States which shall also govern the rights of its dissenting shareholders. |B. Resulting National Bank. Nothing in the law of this state shall restrict the right of a state bank or state savings association to merge with or convert into a resulting national bank. The action to be taken by a constituent state bank or state savings association and its rights and liabilities and those of its shareholders shall be the same as those prescribed for national banks at the time of the action by the applicable laws of the United States and not by the laws of this state. Upon the completion of the merger or conversion into a national bank, all authority and the charter of any merging or converting state bank or state savings association shall automatically terminate.Added by Laws 1965, c. 161, § 1101. Amended by Laws 1990, c. 173, § 7, emerg. eff. May 3, 1990.
6 OK Stat § 6-1102 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1102. Approval of merger by directors and merger agreement.

|Where there is to be a resulting state bank, the board of directors of each constituent bank or savings association shall, by a majority of the entire board, approve a merger agreement which shall contain: |1. The name of each constituent bank or savings association and the location of each office;2. With respect to the resulting bank the name and the location of each proposed office; the name and residence of each director to serve until the next annual meeting of the stockholders; the name and residence of each officer; the amount of capital, the number of shares and the par value of each share; whether preferred stock is to be issued and the amount, terms and preferences; the amendments to the charter and bylaws;3. The terms for the exchange of shares of the constituent banks or savings associations for those of the resulting bank;4. A statement that the merger and the merger agreement are subject to approval by the Board and by the stockholders of each constituent bank or savings association;5. Provisions governing the manner of disposing of the shares of the resulting state bank not taken by dissenting shareholders of constituent banks or savings associations; and6. Such other provisions as the Board requires to enable it to discharge its duties with respect to the merger.Added by Laws 1965, c. 161, § 1102. Amended by Laws 1990, c. 173, § 8, emerg. eff. May 3, 1990; Laws 1993, c. 183, § 16, eff. July 1, 1993.
6 OK Stat § 6-1103 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1103. Approval by Board.

|A. After approval by the board of directors of each constituent bank or savings association, the merger agreement shall be submitted to the Banking Board for approval, together with a fee for review of the merger as required by rule of the Banking Board which shall be deposited in the Oklahoma State Banking Department revolving fund pursuant to Section 211.1 of this title, certified copies of the authorizing resolutions of the several boards of directors showing approval by a majority of the entire board and evidence of proper action by the board of directors of any constituent national bank or federal savings association. |B. Without approval by the Board, no asset shall be carried on the books of the resulting bank at a valuation higher than that on the books of the constituent bank or savings association at the time of the last examination by a state or national bank examiner or savings association examiner before the effective date of the merger.C. Within thirty (30) days after receipt by the Board of the fee and papers specified in subsection A of this section, the Board shall approve or disapprove the merger and the merger agreement. The Board shall approve the merger and the merger agreement if it appears that:1. The resulting state bank meets all the requirements of state law as to the formation of a new state bank;2. The agreement provides an adequate capital structure including surplus in relation to the deposit liabilities of the resulting state bank and its other activities which are to continue or are to be undertaken;3. The agreement is fair; and4. The merger is not contrary to the public interest.If the Board disapproves a merger or a merger agreement, it shall state its objections and give an opportunity to the constituent banks or savings associations to amend the merger agreement to obviate such objection. The Board may by rule establish a procedure whereby the State Banking Commissioner may grant approval of the merger or merger agreement without a hearing before the Board. The procedure shall include criteria set by the Board to be applied by the Commissioner in the consideration of the application.D. Where the resulting state bank is not to exercise trust powers, the Board shall not approve a merger until satisfied that adequate provision has been made for successors to fiduciary positions held by constituent banks or savings associations, and the manner of succession of trust powers and successor trustees shall follow the same procedure as set out in Section 1018 of this title.Added by Laws 1965, c. 161, § 1103. Amended by Laws 1968, c. 93, § 10, emerg. eff. April 1, 1968; Laws 1990, c. 173, § 9, emerg. eff. May 3, 1990; Laws 1993, c. 183, § 17, eff. July 1, 1993; Laws 1995, c. 36, § 19, eff. July 1, 1995; Laws 1997, c. 111, § 88, eff. July 1, 1997; Laws 2000, c. 205, § 23, emerg. eff. May 17, 2000.
6 OK Stat § 6-1105 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1105. Effective date of merger, filing of approved agreement, certificate of merger as evidence.

|A. A merger shall, unless a later date is specified in the agreement, become effective upon the filing with the Board of the executed agreement together with copies of the resolutions of the stockholders of each constituent bank or savings association approving it, certified by such bank's or savings association's president or a vice-president and a secretary. The charters of the constituent banks or savings associations, other than the resulting bank, shall thereupon be deemed surrendered. |B. The Board shall thereupon issue to the resulting bank a certificate of merger, setting forth the name of each constituent bank or savings association and the name of the resulting state bank. Such certificate shall be conclusive evidence of the merger and of the correctness of all proceedings therefor in all courts and places, and may be recorded in any office for the recording of deeds to evidence the new name in which the property of the constituent banks or savings associations is held.Added by Laws 1965, c. 161, § 1105. Amended by Laws 1990, c. 173, § 11, emerg. eff. May 3, 1990.
6 OK Stat § 6-1106 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1106. Continuation of corporate entity.

|A. The resulting state bank shall be considered the same business and corporate entity as each constituent bank or savings association with all of the rights, powers, and duties of each constituent bank or savings association, except as limited by the charter and bylaws of the resulting state bank. |B. The resulting state bank shall have the right to use the name of any constituent bank or savings association whenever it can do any act under such name more conveniently.C. Any reference to any constituent bank or savings association in any writing, whether executed or taking effect before or after the merger, shall be deemed a reference to the resulting state bank if not inconsistent with the other provisions of such writing.Added by Laws 1965, c. 161, § 1106. Amended by Laws 1990, c. 173, § 12, emerg. eff. May 3, 1990.
6 OK Stat § 6-1107 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1107. Conversion from state bank to national and of national to state bank, and trust powers.

|A. State bank conversion to national bank. Nothing in the law of this state shall restrict the right of a state bank to convert into a national bank upon compliance with the laws of the United States, and upon completion of such conversion it shall surrender its charter as a state bank. |B. National bank conversion to state bank. A national bank located in this state, which follows the procedure prescribed by federal law to convert into a state bank, shall be granted a state charter if it meets the requirements for the incorporation of a state bank and the standards and requirements set forth by rules and regulations of the Board. Any requirements that shares must be paid in cash may be satisfied by the exchange of shares of the converted state bank for those of the converting national bank, which may be valued at no more than their fair cash market value. The procedure for incorporation of a state bank may be modified to the extent made necessary by the difference between an ordinary incorporation and a conversion.C. Preservation of identity and use of prior name. The converted bank shall be considered the same business and corporate entity as the converting bank with all of the rights, powers and duties of the converting bank except as limited by the charter and bylaws of the resulting bank. It may use the name of the converting bank whenever it can do any act under such name more conveniently.D. Succession to fiduciary positions. Where a resulting state bank is not to exercise trust powers, the Board shall not approve a merger or conversion until satisfied that adequate provision has been made for successors to fiduciary positions held by the merging banks or the converting bank, and the manner of succession of trust powers and successor trustees shall follow the same procedure as set out in Section 1018 of this Code.E. Continuation of corporate entity. Any reference to the converting bank in any writing, whether executed or taking effect before or after the conversion, shall be deemed a reference to the converted bank if not inconsistent with the other provisions of such writing.Added by Laws 1965, c. 161, § 1107. Amended by Laws 1968, c. 93, § 11, emerg. eff. April 1, 1968; Laws 1993, c. 183, § 18, eff. July 1, 1993.
6 OK Stat § 6-1108 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1108. Nonconforming assets of business.

|If a constituent bank or savings association has assets which do not conform to the requirements of state law for the resulting bank, or if a converting national bank has assets which do not conform to the requirements of state law for the converted state bank, or in either case there are business activities which are not permitted for the resulting or converted state bank, the Commissioner may permit a reasonable time to conform with state law. |Added by Laws 1965, c. 161, § 1108. Amended by Laws 1990, c. 173, § 13, emerg. eff. May 3, 1990.
6 OK Stat § 6-1109.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1109.1. Sale of assets other than in the ordinary course of business.

|In any circumstance other than in the ordinary course of business, a bank may sell any asset with the prior approval of the Commissioner. The sale of all, or substantially all, of the assets of a bank or of a department thereof shall be governed by Section 1109 of Title 6 of the Oklahoma Statutes. |Added by Laws 1997, c. 111, § 91, eff. July 1, 1997.
6 OK Stat § 6-1110 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1110. Book value of assets.

|Without approval by the Commissioner no asset shall be carried on the books of the resulting bank or purchasing bank at a valuation higher than that on the books of a merging, converting bank or selling bank at the time of its last examination by a state or national bank examiner before the effective date of the merger, conversion or sale. |Added by Laws 1965, c. 161, § 1110.
6 OK Stat § 6-1111 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1111. Merger with parent bank holding company, nonbank subsidiary of parent bank holding company or subsidiary.

|A. Upon approval by the Banking Board, and subject to satisfying each of the criteria contained in subsection B of this section and complying with the procedures required by subsection C of this section, a state bank may merge with: |1. Its parent bank holding company;2. One or more nonbank subsidiaries of its parent bank holding company; or3. One or more subsidiaries of the state bank.B. The form and effect of any merger pursuant to this section must be consistent with the following criteria:1. The state bank must be the resulting entity which is the survivor of the merger;2. The merger shall not result in any additional branch office of the state bank, unless such additional branch is approved pursuant to the bank's de novo branching authority under Section 501.1 of this title;3. Any activity carried on by any nonbank company which is a party to the merger shall be terminated at the effective time of the merger unless that activity is permissible for the resulting state bank;4. Any asset or investment which is held by a constituent nonbank company and which is not permitted to be held by a resulting state bank shall be divested at or before the effective time of the merger, unless the state bank obtains prior approval for a longer divestiture period from the Commissioner in the manner provided in Section 1108 of this title and from appropriate federal banking agencies in accordance with any applicable federal banking laws or regulations;5. The merger shall not create an unsafe weakening of the resulting state bank's condition. However, the Board shall have discretion to approve a merger which will have the effect of materially strengthening a weakened bank, even if the resulting state bank's condition or capital will remain less than satisfactory; and6. The applicant bank shall present an acceptable plan for minimizing or eliminating the potential adverse impact of any significant debt or other direct or contingent liabilities of any nonbank company that will be merged into the resulting state bank.C. A merger pursuant to this section shall be governed by all of the provisions and procedures of Sections 1102 through 1106 of this title. For this purpose such sections shall be interpreted so far as reasonably applicable as if any nonbank company which is a party to the merger were instead a constituent state bank being merged into the resulting state bank.Added by Laws 1993, c. 183, § 19, eff. July 1, 1993. Amended by Laws 1997, c. 111, § 92, eff. July 1, 1997; Laws 2003, c. 180, § 5, eff. Nov. 1, 2003.
6 OK Stat § 6-1203 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1203. Reorganization.

|A. Standards of plan of reorganization. A plan of reorganization shall not be prescribed under this Code unless: |(1) the plan is feasible and fair to all classes of depositors, creditors and stockholders.(2) the aggregate face amount of the interest accorded to any class of depositors, creditors or stockholders under the plan does not exceed the value of the assets upon liquidation less the full amount of the claims of all prior classes, subject, however, to any fair adjustment for new capital that any class will pay in under the plan.(3) the plan provides for the issuance of capital stock and, if necessary, debentures in an amount that will provide an adequate ratio to deposits.(4) any exchange of new common stock for obligations or stock of the bank will be effected in inverse order to the priorities in liquidation of the classes that will retain an interest in the bank and upon terms that fairly adjust any change in the relative interests of the respective classes that will be produced by the exchange.(5) the plan assures the removal of any director, officer or employee responsible for any unsound or unlawful action or the existence of an unsound condition.(6) any merger or consolidation provided by the plan conforms to the requirements of this Code.B. Modification or elimination of plan of reorganization - Notice to Board. Whenever in the course of reorganization supervening conditions render the plan unfair or its execution impractical, the Commissioner may modify the plan or liquidate the institution. Any such action shall be taken by order of the Board upon appropriate notice.Added by Laws 1965, c. 161, § 1203.
6 OK Stat § 6-1205 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1205. Federal Deposit Insurance Corporation as liquidator.

|A. Liquidation by F.D.I.C. The Federal Deposit Insurance Corporation is hereby authorized and empowered to be and act without bond as liquidating agent of any banking institution closed by the State Banking Commissioner, the deposits in which are to any extent insured by the Corporation. |B. Commissioner may tender to F.D.I.C. as liquidator. The Commissioner may in the event of such closing upon order of the Board tender to the Corporation the appointment as liquidator of such banking institution.C. Appointment of F.D.I.C. as liquidator - Acceptance. Upon being notified in writing of the acceptance of such an appointment, the Commissioner shall forthwith file in the office of the clerk and recorder in the county in which the bank is situated a certificate evidencing the appointment of the Federal Deposit Insurance Corporation. Upon the filing of such certificate the possession of all the assets, business and property of such bank of every kind and nature wheresoever situated shall be deemed transferred from such bank and the Commissioner to the Federal Deposit Insurance Corporation including any securities pledged by the bank to the Commissioner pursuant to Section 1004 of this title. Without the execution of any instruments of conveyance, assignment, transfer or endorsement, the title to all such assets and property shall be vested in the Federal Deposit Insurance Corporation and the Commissioner shall be forever thereafter relieved from any and all responsibility and liability in respect to the possession and liquidation of such bank.D. Powers of F.D.I.C. as liquidator. If the Corporation accepts the appointment, it shall have and possess all the powers and privileges provided by the laws of this state with respect to the liquidation of a bank and with respect to its depositors and other creditors and shall proceed in liquidation under this title as if it were the Commissioner and shall act in the Commissioner's stead and be substituted therefor in all actions brought pursuant to Section 1018 of this title.E. Priority of Claims for F.D.I.C. If the Corporation serves as the liquidating agent of any national bank the principal office of which is located in Oklahoma, it shall be bound by the priority of claims established in subsection K of Section 1204 of this title.F. Individual liability of directors. Among its other powers, the Federal Deposit Insurance Corporation, in the performance of its powers and duties as such liquidator, shall have the right and power, upon the order of a court of record of competent jurisdiction, to enforce the individual liability of the directors of any such banking institution.Added by Laws 1965, c. 161, § 1205. Amended by Laws 1983, c. 131, § 2, eff. Nov. 1, 1983; Laws 1988, c. 166, § 10, emerg. eff. May 24, 1988; Laws 1997, c. 111, § 95, eff. July 1, 1997; Laws 2010, c. 62, § 9, emerg. eff. April 9, 2010.
6 OK Stat § 6-1207 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1207. Transfer or conveyance of title to mineral interests or leases.

|The Commissioner shall have authority to transfer or convey title to any mineral interests or mineral leases the Department or the Commissioner acquired prior to the effective date of this act, from a state-chartered bank or trust company not insured by the Federal Deposit Insurance Corporation for which the Department or Commissioner served as receiver or liquidator. The Commissioner shall only transfer or convey title to the mineral interests or mineral leases to the Department of Central Services by quitclaim deed in accordance with applicable state law. |Added by Laws 1995, c. 36, § 21, eff. July 1, 1995. Amended by Laws 1997, c. 111, § 97, eff. July 1, 1997.
6 OK Stat § 6-1301 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1301. Definitions.

|As used in this article: |1. "Depositor" means a person delivering property or documents to a state bank, national banking association, savings and loan association, credit union or trust company for safekeeping;2. "Deputy" means a person designated by the lessee to act as lessee's agent in connection with the safe deposit box;3. "Lessee" means a person contracting with a lessor for the use of a safe deposit box;4. "Lessor" means any state bank, national banking association, savings and loan association, credit union or trust company engaged in the business of renting safe deposit facilities; and5. "Safe deposit box" means a safe deposit box, vault, or other safe deposit receptacle maintained by a lessor.Added by Laws 1965, c. 161, § 1301. Amended by Laws 1968, c. 93, § 16, emerg. eff. April 1, 1968; Laws 1988, c. 65, § 35, emerg. eff. March 25, 1988; Laws 1997, c. 111, § 98, eff. July 1, 1997.
6 OK Stat § 6-1301.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-1301.1. Appointment of deputy.

|A lessee on a safe deposit box may appoint a deputy, with or without the consent of or notice to any other joint lessees on the box. A deputy shall have the power to enter the box, remove contents therefrom or add contents, and the appointment of the deputy shall not be affected by the subsequent incapacity or incompetency of the lessee, nor the lapse of time. Revocation of the appointment of a deputy must be made in writing to the lessor. The authority of the deputy shall cease upon the appointing lessee's death. However, if the lessor, without knowledge of the death of the lessee, deals with the deputy of the lessee, the transaction binds the lessee's estate and the lessee. |Added by Laws 1997, c. 111, § 99, eff. July 1, 1997.