reglab/housing_qa huggingface dataset:
6 OK Stat § 6-201.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-201.1. Compensation of Commissioner.

|A. The annual compensation, payable monthly, of the Commissioner, shall be fixed by the Banking Board. Unless otherwise disapproved by the Legislature, and notwithstanding any other prescription of salary limits including the ranges set forth in Section 3601.2 of Title 74 of the Oklahoma Statutes, the Banking Board may fix the salary of the Commissioner in an amount not in excess of the maximum salary proposed for the Banking Department and set forth in the most recent Annual Compensation Report prepared by or for the Office of Management and Enterprise Services. |B. The Commissioner and, with the Commissioner's authority, other members of the Department shall be entitled to reimbursement for actual and necessary travel expenses incurred in the performance of their duties, as provided by the State Travel Reimbursement Act.Added by Laws 1985, c. 331, § 5, emerg. eff. July 29, 1985. Amended by Laws 1987, c. 208, § 13, operative July 1, 1987; Laws 1987, c. 236, § 52, emerg. eff. July 20, 1987; Laws 1990, c. 266, § 14, operative July 1, 1990; Laws 1992, c. 367, § 14, eff. July 1, 1992; Laws 1993, c. 183, § 3, eff. July 1, 1993; Laws 1994, c. 270, § 1, operative July 1, 1995; Laws 1997, c. 111, § 5, eff. July 1, 1997; Laws 1999, c. 27, § 2, eff. July 1, 1999; Laws 1999, c. 222, § 1, eff. Sept. 1, 1999; Laws 2003, c. 356, § 3, emerg. eff. June 3, 2003; Laws 2013, c. 62, § 2, emerg. eff. April 18, 2013.
6 OK Stat § 6-205 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-205. Access of Commissioner and Board to records of Department.

|The Commissioner, Deputy Commissioner and the Board shall have access to any record of the Department. |Added by Laws 1965, c. 161, § 205.
6 OK Stat § 6-206 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-206. Power to subpoena witnesses - Declaratory order - Good faith as a defense.

|A. Witnesses - Subpoena. The Commissioner and the Board shall have the power to subpoena witnesses, compel their attendance, require the production of evidence, administer an oath and examine any person under oath in connection with any subject relating to duty imposed upon or a power vested in the Commissioner. These powers shall be enforced by the district court of the district in which the hearing is held. |B. Declaratory order. The Board may, on petition of any interested person and after hearing, issue a declaratory order with respect to the applicability of this Code or a rule issued hereunder to any person, property or state of facts. The orders shall bind the Board and all parties to the proceeding on the state of facts declared unless it is modified or reversed by a court. A declaratory order may be reviewed and enforced in the same manner as other orders of the Commissioner, but the refusal to issue a declaratory order shall not be reviewable.C. Civil or criminal liability - Good faith as defense. No person shall be subjected to any civil or criminal liability for any act or omission to act in good faith in reliance upon an existing order, regulation or definition of the Board notwithstanding a subsequent decision by a court invalidating the order, regulation or definition.Added by Laws 1965, c. 161, § 206.
6 OK Stat § 6-210 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-210. Removal of officer, director or employee of bank or trust company by Commissioner.

|Any officer, director or employee of a bank or trust company found by the Commissioner to be dishonest, reckless, unfit to participate in the conduct of the affairs of the institution, or to have engaged or participated in any unsafe or unsound practice in connection with a bank or trust company, or to be practicing a continuing disregard or violation of laws, rules, regulations or orders which are likely to cause substantial loss to the institution or likely to seriously weaken the condition of the institution shall be removed immediately from office by the board of directors of the bank or trust company of which he is an officer, director or employee, on the written order of the Commissioner; provided, that said bank or trust company or officer, employee or director may within ten (10) days file a notice of protest for said removal with the Secretary of the Board and as soon as possible thereafter the Board will review the order of said Commissioner and make such findings as it deems proper, and that, pending said time, the said officer, employee or director shall not perform any of the duties of his office. |Added by Laws 1965, c. 161, § 210. Amended by Laws 1982, c. 223, § 4; Laws 1985, c. 168, § 3, emerg. eff. June 18, 1985.
6 OK Stat § 6-211.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-211.1. Revolving fund - Creation.

|There is hereby created in the State Treasury a revolving fund for the Oklahoma State Banking Department. The revolving fund shall consist of all fees and assessments paid to or collected by the Department, including all monies received by the Commissioner under Sections 104, 204, 303, 415, 501.1 and 501.2 of this title and Section 381.16 of Title 18 of the Oklahoma Statutes and those payments required to be deposited in the revolving fund pursuant to Sections 211, 1103, 1206, 2001.2, 2008, 2107 and 2113 of this title, Section 381.15 of Title 18 of the Oklahoma Statutes, and Section 7106 of Title 36 of the Oklahoma Statutes. The revolving fund shall be a continuing fund, not subject to fiscal year limitations. Expenditures from the fund shall be made pursuant to the laws of this state and the statutes relating to the Department, and without legislative appropriation. Warrants for expenditures from the fund shall be drawn by the State Treasurer, based on claims signed by an authorized employee or employees of the Department and approved for payment by the Director of the Office of Management and Enterprise Services. |Added by Laws 1997, c. 111, § 13, eff. July 1, 1997. Amended by Laws 2000, c. 77, § 5, emerg. eff. April 14, 2000; Laws 2000, c. 205, § 9, emerg. eff. May 17, 2000; Laws 2003, c. 356, § 5, emerg. eff. June 3, 2003; Laws 2005, c. 48, § 7, eff. Nov. 1, 2005; Laws 2012, c. 304, § 30.
6 OK Stat § 6-212 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-212. Commissioner's annual report.

|A. Commissioner's Report - Contents. The Commissioner shall report to the Governor annually. The report shall be a public document and shall include such matters as the Commissioner deems advisable. |B. Copies furnished to Legislature and Oklahoma Publishing Clearing House. Copies of the annual reports not previously so submitted shall be submitted to the Legislature at the opening of each regular session and to the Oklahoma Publishing Clearing House. A copy of the annual report shall also be published on the Oklahoma State Banking Department’s website.Added by Laws 1965, c. 161, § 212. Amended by Laws 1967, c. 267, § 1, emerg. eff. May 8, 1967; Laws 1970, c. 321, § 4; Laws 1971, c. 352, § 5; Laws 1975, c. 161, § 1; Laws 1982, c. 223, § 5; Laws 1997, c. 111, § 15, eff. July 1, 1997; Laws 2010, c. 62, § 3, emerg. eff. April 9, 2010.NOTE: Laws 1975, c. 109, § 4 repealed by Laws 1982, c. 223, § 15.
6 OK Stat § 6-213 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-213. Interests of department officers or employees in banks or trust companies.

|No officer or employee of the Department shall be an officer, director, attorney, owner or shareholder in any bank or trust company or, except as hereinafter provided, receive, directly or indirectly, any payment or gratuity from any such bank or trust company or be indebted to any bank or trust company or other institution over which the Department has supervisory control. Willful violation of this section is declared to be a criminal offense. This provision shall not prohibit employees of the Department from being members of credit unions or from being indebted to credit unions and finance companies, nor shall it prohibit their being depositors in a bank or lessees of safe deposit boxes therein on the same terms as are available to the public generally, or being indebted to a bank upon a mortgage loan upon the mortgagor's own home, or upon an installment debt transferred to a bank in the regular course of business by a seller of consumer goods, including automobiles purchased by the officer or employee. Further, this section shall not prohibit the five banker members of the Board from being executive officers in banks and from receiving bona fide compensation as such officers. |Added by Laws 1965, c. 161, § 213. Amended by Laws 1967, c. 54, § 1, emerg. eff. April 14, 1967; Laws 1986, c. 316, § 3, emerg. eff. June 24, 1986; Laws 1997, c. 111, § 16, eff. July 1, 1997.
6 OK Stat § 6-215 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-215. Limitation of liability.

|No member of the Board or officer or employee of the Department shall be liable in any civil action for damages for any act done or omitted in good faith in performing the functions of his office. |Added by Laws 1965, c. 161, § 215.
6 OK Stat § 6-216 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-216. Standards in regulations, orders and rules.

|The Board and the Commissioner, in the exercise of the power to make orders and rules and to issue regulations pursuant to this Code, shall act in the interests of promoting and maintaining a sound banking system and sound trust companies, the security of deposits and depositors and other customers, the preservation of the liquid position of banks and in the interest of preventing injurious credit expansions and contractions. |Added by Laws 1965, c. 161, § 216.
6 OK Stat § 6-218 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-218. Transfer of stock or controlling interest - Notice to and approval by Commissioner.

|A. Commissioner's approval required where transfer of stock jeopardizes interest of depositors - Banks and trust companies. Whenever, in the opinion of the Commissioner, the condition of any bank or trust company is such that any transfer of the capital stock of such bank or trust company would jeopardize the interest of its customers, the Commissioner shall promptly so notify in writing the board of directors and officers of such bank or trust company of the determination of the Commissioner and the same shall be forwarded by certified or registered mail, return receipt requested, and the Commissioner shall therein require that, when any shares of the capital stock of the bank or trust company are to be transferred on the books or records of the bank or trust company, the officer or officers proposing to make the transfer shall report in writing to the Commissioner such proposed transfer of stock. After such notice, no transfer thereof shall be made without first obtaining the written consent thereto of the Commissioner. |B. Transfer of controlling interest - Banks.1. Whenever a change occurs or is about to occur in the outstanding voting stock of any bank or bank holding company which will result in a change in the control of the bank or the bank holding company, the president or other chief executive officer of such bank or bank holding company, immediately upon obtaining such knowledge of such change in the control of the bank or bank holding company or such contemplated or consummated sale or transfer of such stock, shall report such facts to the Commissioner.2. As used in this section, the term "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policy of a bank or bank holding company. If there is any doubt as to whether a change in the ownership of the outstanding voting stock in any insured bank or bank holding company is sufficient to effect a change in the control thereof, such doubt shall be resolved in favor of reporting the facts to the Commissioner.3. Notwithstanding paragraph 1 of subsection B of this section, a change in ownership of ten percent (10%) of the voting stock of a bank or bank holding company shall be reported as a change of control to the Commissioner.C. Reporting transfers required. No officer of any bank or trust company shall fail to report any transfer of stock to the Commissioner at the time the same is made, as required by this section.Added by Laws 1965, c. 161, § 218. Amended by Laws 1995, c. 36, § 8, eff. July 1, 1995; Laws 1997, c. 111, § 18, eff. July 1, 1997.
6 OK Stat § 6-219 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-219. Changes in chief executive officer and directors.

|Every bank and trust company shall report promptly to the Commissioner any change for whatever reason in the chief executive officer and directors, including in its report a statement of the past and current business and professional affiliations of the new chief executive officer and directors. |Added by Laws 1965, c. 161, § 219. Amended by Laws 1968, c. 93, § 2, emerg. eff. April 1, 1968.
6 OK Stat § 6-220 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-220. Impairment of capital - Assessments - Limitations.

|A. Commissioner may direct assessment - Procedure. The Commissioner may order a bank or trust company to levy an assessment in a designated amount upon the holders of record of common stock to remedy an impairment of capital. Upon receipt of an order to levy an assessment, the directors shall, within three (3) business days, cause to be sent to all holders of common stock, at their addresses on the books of the bank or trust company, a notice of the amount of the assessment, a copy of the order of the Commissioner and a copy of this subsection. If an assessment is not paid within thirty (30) days after the notice is mailed, the bank or trust company shall offer the shares of the defaulting shareholders for sale at public auction at a price which shall not be less than the amount of the assessment and the cost of the sale. Any excess shall be paid to the prior owners. The method of collection provided herein shall be the sole method of collecting assessments. |B. Limitation of bank operations where capital impaired. Whenever the capital or reserve of any bank shall be impaired, the Commissioner may order it to make no new loans or discounts except upon sight bills of exchange drawn against actually existing values.Added by Laws 1965, c. 161, § 220. Amended by Laws 1984, c. 133, § 3, eff. Oct. 1, 1984.
6 OK Stat § 6-301 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-301. Certificate of authority.

|From and after the passage of the Oklahoma Banking Code no certificate of authority to engage in the banking or trust company business in this state shall be issued, and no bank or trust company or person shall be permitted to engage in such business within Oklahoma except on certificate issued by the Commissioner upon approval of the Board of an application for authority to organize a state bank or trust company. The issuance of such certificate shall be within the sole discretion of the Board. |Added by Laws 1965, c. 161, § 301. Amended by Laws 1982, c. 204, § 2; Laws 1997, c. 111, § 19, eff. July 1, 1997; Laws 2002, c. 67, § 3, eff. Nov. 1, 2002.
6 OK Stat § 6-303 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-303. Incorporators - Fee.

|A. One or more persons eligible by the Oklahoma Banking Code or by federal law to own and control a bank or trust company shall file with the State Banking Commissioner, in a method as required by the Commissioner, an application for authority to organize setting forth the information required by Section 305 of this title. |B. Each organizer shall subscribe and pay in full in cash for stock having a total subscription price of not less than one percent (1%) of the minimum capital required by Section 303.1 of this title.C. An application fee in an amount prescribed by Board rule shall accompany the application. The fee is payable from the organizational expense fund and is nonrefundable.Added by Laws 1965, c. 161, § 303. Amended by Laws 1967, c. 258, § 1; Laws 1970, c. 321, § 6; Laws 1971, c. 352, § 6; Laws 1982, c. 204, § 4; Laws 1990, c. 173, § 2, emerg. eff. May 3, 1990; Laws 1997, c. 111, § 20, eff. July 1, 1997; Laws 2000, c. 205, § 11, emerg. eff. May 17, 2000; Laws 2001, c. 55, § 1, eff. Nov. 1, 2001.
6 OK Stat § 6-303.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-303.1. Capital structure - Preferred stock.

|A. Except as provided in subsection B of this section, the State Banking Commissioner may not issue a charter to a state bank having required capital of less than the greater of Two Million Dollars ($2,000,000.00) or such amount as may be required by the Federal Deposit Insurance Corporation. |B. The Commissioner may require additional capital for a proposed bank or, on application in the exercise of discretion consistent with protecting safety and soundness, reduce the amount of minimum capital required for a proposed bank, if the Commissioner finds the proposed scope or type of operations of a proposed bank requires additional, or permits reduced, capital, consistent with the safety and soundness of the bank. To the extent determined by the Commissioner to be relevant, the safety and soundness factors to be considered by the Commissioner in the exercise of discretion include but are not limited to:1. The nature and type of business conducted;2. The nature and degree of liquidity in assets held in a corporate capacity;3. The size of population of the proposed market;4. The existence and type of concentrations of lending or investing, if any, likely for the bank;5. The geographic size of the proposed market;6. The competence and experience of management;7. The extent and adequacy of internal controls;8. The presence or absence of annual unqualified audits by an independent certified public accountant;9. The reasonableness of business plans for retaining or acquiring additional capital; and10. Federal Deposit Insurance Corporation capital requirements.C. Any trust company hereafter organized shall have paid-in capital totaling Two Million Dollars ($2,000,000.00).D. The issuance of preferred stock by a newly organized bank or trust company may be authorized by the Commissioner. Preferred stock shall have such preferences, powers and rights as the Commissioner may approve. It shall not be retired without the approval of the Commissioner and the requirement of such approval shall be stated in the stock certificates, but the Commissioner may give advance approval to sinking funds payable exclusively out of earnings available for dividends.Added by Laws 1965, c. 161, § 302. Amended by Laws 1970, c. 321, § 5; Laws 1982, c. 204, § 3. Renumbered from § 302 of this title by Laws 1982, c. 204, § 16. Amended by Laws 1988, c. 166, § 3, emerg. eff. May 24, 1988; Laws 1997, c. 111, § 21, eff. July 1, 1997; Laws 2000, c. 205, § 12, emerg. eff. May 17, 2000.
6 OK Stat § 6-304 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-304. Expenses of organization.

|A. Each subscriber at the time the subscriber subscribes to the stock of a proposed state bank or trust company shall pay in cash a sum equal to at least five percent (5%) of the sale price of such stock into a fund to be used to pay the expenses of organization. No organizational expense shall be paid out of any other funds of the bank. |B. Upon the issuance of a certificate of authority by the Commissioner any unexpended balance shall be transferred to undivided profits. If the application has been finally denied, any unexpended balance shall be distributed among the contributors in proportion to their respective contributions. The Commissioner may require an accounting of disbursements from the fund and may order the organizers to restore any sum which has been expended for other than proper organizational expenses.C. No payment shall be made from the organizational expense fund for soliciting subscriptions to stock.D. Any financial arrangement or transaction involving the proposed bank or trust company and its organizers, directors, officers or principal shareholders shall be disclosed.Added by Laws 1965, c. 161, § 304. Amended by Laws 1982, c. 204, § 5; Laws 1997, c. 111, § 22, eff. July 1, 1997; Laws 2002, c. 67, § 4, eff. Nov. 1, 2002; Laws 2008, c. 275, § 3, eff. July 1, 2008.
6 OK Stat § 6-306.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-306.1. Commissioner – Certificate of authority – Recommendation of action.

|A. Once the Commissioner determines that a bank or savings association is in danger of failing and all or part of the deposit liability of such bank or savings association is to be assumed by a bank being organized for that purpose, the Board at a meeting closed to the public may approve of the organization of the acquiring bank and the Commissioner may grant a certificate of authority to the acquiring bank, and shall not be bound by the provisions, restrictions, and requirements contained in Article III of this title. The Commissioner is further empowered in such event to grant authority to organize a state savings association and issue a certificate of authority without notice or hearing and without action of the Board. |B. If the Commissioner has determined that a bank is in danger of failing and the Commissioner must take possession of the bank pursuant to Article XII of this title, the Board at a meeting closed to the public may approve of the actions of the Commissioner and order the Commissioner to tender to the Federal Deposit Insurance Corporation the appointment as liquidator of the bank.C. If the Commissioner determines that a bank or other company under the Department’s supervision is in danger of failing or is subject to other conditions or circumstances which, if made public, could result in deterioration of the bank or other company, the Board, at a meeting closed to the public, may consider any action recommended by the Commissioner directed at resolving or improving upon the conditions or circumstances to which the bank or other company is subject.Added by Laws 1982, c. 204, § 7. Amended by Laws 1983, c. 73, § 2, emerg. eff. April 29, 1983; Laws 1984, c. 133, § 4, eff. Oct. 1, 1984; Laws 1985, c. 168, § 4, emerg. eff. June 18, 1985; Laws 1993, c. 183, § 6, eff. July 1, 1993; Laws 1997, c. 111, § 24, eff. July 1, 1997; Laws 1999, c. 27, § 5, eff. July 1, 1999; Laws 2002, c. 67, § 6, eff. Nov. 1, 2002; Laws 2008, c. 275, § 4, eff. July 1, 2008; Laws 2010, c. 62, § 4, emerg. eff. April 9, 2010.
6 OK Stat § 6-306.2 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-306.2. Acceptance of application for filing - Notice.

|A. In the event the Commissioner determines that the organizers have substantially complied with the requirements of Section 305 of this title and an organizational expense fund in a minimum amount approved by the Commissioner has been fully funded, the Commissioner shall accept the application for filing and shall notify the organizers of the acceptance. Prior to acceptance by the Commissioner, an applicant shall have one opportunity to correct deficiencies in an application. Deficiencies that are not corrected adequately when the application is resubmitted may cause the application to be considered withdrawn or disapproved. |B. Within ten (10) days after the Commissioner has accepted an application for filing, the applicant shall publish notice of such acceptance in a legal newspaper of general circulation in the city, town, or county in which the proposed bank or trust company is to be located. The notice shall be published on the same day for two (2) consecutive weeks and shall contain a statement that an application has been submitted, the names of the organizers, the name and location of the proposed bank or trust company and the date on which the application was accepted for filing. The applicant shall promptly furnish the Commissioner an affidavit evidencing such publication.Added by Laws 1993, c. 183, § 7, eff. July 1, 1993. Amended by Laws 1997, c. 111, § 25, eff. July 1, 1997; Laws 2010, c. 62, § 5, emerg. eff. April 9, 2010.