reglab/housing_qa huggingface dataset:
6 OK Stat § 6-307.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-307.1. Objectives of Commissioner and Banking Board - Comments or objections.

|A. Objectives. The primary objectives of the State Banking Commissioner and the Banking Board shall be to maintain a sound banking system, to encourage a competitive banking environment and to provide convenience to the public. |B. Comments or objections. Within twenty-one (21) days after the first notice by publication as described in Section 306.2 of this title, any interested person may submit to the Commissioner written comments or objections to organization of the proposed bank, or a request for an opportunity to be heard by the Commissioner at a hearing held prior to consideration by the Board of the application for authority to organize. Any request for opportunity to be heard shall set forth reasons justifying the time and expense entailed by such hearing before the Commissioner. In the sole discretion of the Commissioner, the Commissioner may decide to permit such a hearing or may refuse the request for hearing. If the Commissioner refuses the request for hearing, the interested person may be heard at the hearing held by the Board to consider the application. In the absence of a request, the Commissioner may order a hearing to be held before the Commissioner if the Commissioner determines that it is in the public interest.Added by Laws 1982, c. 204, § 8. Amended by Laws 1997, c. 111, § 26, eff. July 1, 1997; Laws 2002, c. 67, § 7, eff. Nov. 1, 2002; Laws 2010, c. 62, § 6, emerg. eff. April 9, 2010.
6 OK Stat § 6-309 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-309. Public charter application file - Contents - Availability - Findings and conclusions - Objections.

|A. Contents. The charter application file shall consist of the application with supporting data and supplementary information, with the exception of personal financial records of individual applicants and other material deemed by the Commissioner to be confidential. In addition, the charter application file shall contain all data and information submitted by interested persons in opposition to such application. |B. Availability of charter application file. Except for personal financial records of individual applicants and other material deemed by the Commissioner to be confidential, the charter application file shall be available for inspection in the office of the Banking Department upon written request from any person. No documents in the charter application file may be removed from the office of the Banking Department. Photocopies may be made upon request. The charge for such copies shall be determined pursuant to Section 208 of this title.C. Findings and conclusions. The presiding officer of a hearing permitted under Section 308 of this title shall issue findings of fact and conclusions of law within thirty (30) days after the hearing or additional time as prescribed by the presiding officer based on the material contained in the record and shall mail a copy of the findings and conclusions to each participant. The presiding officer, at the discretion of the presiding officer, may give consideration to the following in arriving at the findings, conclusions and recommendation of the presiding officer:1. The character, financial responsibility and business experience of the organizers and proposed directors;2. The adequacy of the existing banking facilities in the proposed market;3. The economic and competitive conditions in the proposed market;4. The likelihood of successful operation of the proposed institution;5. The adequacy of initial capital, proposed earnings and deposit prospects of the proposed institution; and6. Negative impact on banks serving all or part of proposed market.D. Objections; Board hearing. Written objections to the presiding officer's findings and conclusions, or procedural objections, if any, shall be submitted to the Commissioner by participants within fourteen (14) days after the issuance of the presiding officer's findings and conclusions. The Commissioner shall schedule a date for consideration of the presiding officer's findings of fact and conclusions of law and recommendations to the Board and for presentation of oral arguments by participants in support of or in opposition to the written objections previously submitted.The Commissioner shall promptly notify all participants of the date scheduled for hearing before the Board.Added by Laws 1982, c. 204, § 10. Amended by Laws 1983, c. 73, § 3, emerg. eff. April 29, 1983; Laws 1997, c. 111, § 28, eff. July 1, 1997; Laws 2002, c. 67, § 9, eff. Nov. 1, 2002; Laws 2005, c. 48, § 9, eff. Nov. 1, 2005.
6 OK Stat § 6-311 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-311. Appeal of Board's decision.

|The decision of the Board may be appealed to the Oklahoma Supreme Court by any party directly affected and showing aggrievement resulting from the Board's decision. An appeal shall be commenced and conducted in accordance with the provisions of Section 207 of this title. |Added by Laws 1982, c. 204, § 12. Amended by Laws 1997, c. 111, § 30, eff. July 1, 1997.
6 OK Stat § 6-311.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-311.1. Existing certificate of incorporation for which no certificate of authority is outstanding.

|In the case of an existing certificate of incorporation for which no certificate of authority is currently outstanding, a holder of such certificate of incorporation shall follow the procedure and obtain the approvals as set forth in Sections 312 and 313 of this title. |Added by Laws 1997, c. 111, § 31, eff. July 1, 1997. Amended by Laws 2002, c. 67, § 11, eff. Nov. 1, 2002.
6 OK Stat § 6-312 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-312. Issuance of certificate of incorporation - Shareholders meeting – Filing of verified application for certificate - Contents.

|Within ninety (90) days after approval by the Board of an application for authority to organize or any additional period allowed by the Commissioner: |1. The proposed certificate of incorporation submitted to the Commissioner with the application for authority to organize shall be signed under oath by each of the organizers and submitted in duplicate to the Commissioner. A copy thereof, duly approved by the Commissioner, shall be filed with the Secretary of State by the applicant. The Secretary of State shall issue a certificate in the form provided by law for other corporations and the existence of such bank or trust company shall date from the issuance of the certificate of the Secretary of State; provided, it shall be a criminal offense against this Code for a state bank or trust company to perform any act other than to perfect its organization, obtain and equip a place of business and otherwise prepare to do business before receiving a certificate of authority to operate issued to it by the Commissioner;2. After the certificate of incorporation is received from the Secretary of State, a meeting of the shareholders shall be held to elect directors and adopt the bylaws. The bylaws adopted may be amended by majority vote of the outstanding voting shares and the bylaws may provide for amendment by the board of directors of any provision other than those relating to the duties, term of office, remuneration, reimbursement or indemnification of a director, and no share shall be issued until the bank's capital has been paid in full; and3. After the first meeting of the shareholders and the board of directors, the president, secretary or cashier shall file with the Commissioner a verified application for certificate of authority.The application shall contain:a.a statement as to the amount of capital which the bank has collected from subscribers to the bank's stock,b.the name, address and business and professional affiliations of each director and executive officer,c.evidence of the character, financial responsibility and ability of the managing officer,d.the name and address of each shareholder and the number of shares held by each,e.the address at which the bank or trust company will operate,f.a statement that all of the bylaws adopted were attached as an exhibit to the application for authority to organize,g.if a bank, a statement that an application for Federal Deposit Insurance or for membership in the Federal Reserve System has been approved, andh.such other information as the Commissioner may require to enable the Commissioner to determine whether a certificate of authority should be issued.Added by Laws 1982, c. 204, § 13. Amended by Laws 1983, c. 73, § 5, emerg. eff. April 29, 1983; Laws 1997, c. 111, § 32, eff. July 1, 1997; Laws 2002, c. 67, § 12, eff. Nov. 1, 2002.
6 OK Stat § 6-401 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-401. Organization of new bank or trust company.

|A bank or trust company may be organized to exercise the powers provided in the Banking Code and such general corporate powers as are appropriate to its purpose. |Added by Laws 1965, c. 161, § 401. Amended by Laws 1997, c. 111, § 34, eff. July 1, 1997.
6 OK Stat § 6-402.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-402.1. Chartering of banker's bank.

|A banker's bank may be chartered pursuant to Sections 301 through 313 of Title 6 of the Oklahoma Statutes and shall have the powers set forth in Section 402 of Title 6 of the Oklahoma Statutes, subject to the following limitations and restrictions: |1. The stock of the bank shall be owned exclusively by other banks, or if the stock of such bank is owned by a holding company, then the stock of the holding company is owned exclusively by other banks;2. The bank or the bank holding company owning such bank, including all subsidiaries, shall engage primarily in providing service to or for other depository institutions or their holding companies, and the directors, officers, or employees of such institutions;3. The bank shall have federal deposit insurance by the Federal Deposit Insurance Corporation; and4. The bank shall provide correspondent banking services at the request of other depository institutions, their subsidiaries or their holding companies and subsidiaries of such holding companies.Added by Laws 1997, c. 111, § 36, eff. July 1, 1997.
6 OK Stat § 6-403.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-403.1. Membership in Federal Reserve System.

|A. Any bank incorporated under the laws of this state may subscribe to the capital stock and become a member of the Federal Reserve System. |B. Any bank incorporated under the laws of this state which becomes a member of the Federal Reserve System is by this Code vested with all powers conferred upon member banks of the Federal Reserve System by the terms of the Federal Reserve Act as fully and completely as if such powers were specifically enumerated and described in this Code. All such powers shall be exercised subject to all restrictions and limitations imposed by the Federal Reserve Act, or by regulations of the Federal Reserve Board made pursuant thereto.C. Compliance on the part of any such bank with the reserve requirements of the Federal Reserve Act is full compliance with those provisions of the laws of this state which require banks to maintain cash balances in their vaults or with other banks, and no such bank shall be required to carry or maintain reserve other than such as is required under the terms of the Federal Reserve Act.D. Any such bank shall continue to be subject to the supervision and examination required by the laws of this state, except that the Board of Governors of the Federal Reserve System has the right, if it deems necessary, to make examinations. The authorities of this state having supervision over such bank may disclose to the Board of Governors of the Federal Reserve System, or to examiners duly appointed by it, all information in reference to the affairs of any bank which has become or desires to become a member of the Federal Reserve System.E. The provisions of this section shall be deemed to apply to any bank electing to become a member of the Federal Reserve System prior to the effective date of this act.Added by Laws 1998, c. 70, § 1, emerg. eff. April 8, 1998.
6 OK Stat § 6-404 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-404. Federal Deposit Insurance Corporation Act - Acts permitted for compliance therewith.

|Every bank may do and perform any act and thing necessary or required under the terms of the Federal Deposit Insurance Corporation Act, and any amendments thereto or any act substituted therefor, to secure the benefits of the deposit insurance and other advantages provided by such act, and any amendments thereto or any act substituted therefor applicable to state banks and trust companies. |Added by Laws 1965, c. 161, § 404.
6 OK Stat § 6-405 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-405. Increase or decrease of capital stock - Procedure - Reduction of capital stock - Surrender of certificate.

|A. Increase or decrease of capital stock; procedure. Any bank or trust company authorized to conduct a banking business under the laws of the State of Oklahoma may at any time increase or reduce its capital stock, after such change has been approved by the Commissioner and by a majority vote of the outstanding voting stock. |1. After the increase or decrease of capital stock has been authorized at a regular shareholders' meeting or a special shareholders' meeting called for that purpose, the president or secretary of the bank or trust company shall prepare a certificate in the form prescribed by the Commissioner containing a copy of the resolution, as passed by a majority vote of the outstanding voting stock, authorizing the increase or decrease of capital stock. Such certificate shall be verified by oath of the president or secretary of the corporation and forthwith transmitted to the Commissioner.2. Upon receipt of such certificate, the Commissioner may, in the discretion of the Commissioner, authorize the increase or decrease of the capital stock of the corporation. The Commissioner, after such increase or decrease has been authorized and approved, shall thereupon issue a certificate showing the amount to which the capital stock has been increased or decreased by authority of the resolution, as certified by the Commissioner.3. No bank or trust company shall issue any certificate of stock under any increase of capital until the whole amount of such increase has been fully paid either in cash or by transfer from undivided profits.B. Reduction of capital stock; surrender of certificate. Whenever the capital stock of any bank or trust company is reduced, every shareholder, owner or holder of any stock certificate shall surrender the same for cancellation and shall be entitled to receive a new certificate for that portion of the stock remaining in force after the reduction has been made. Any stock certificate which is not surrendered for cancellation and reissue, under any decrease of capital stock, shall be null and void as to the amount represented by the decrease. No dividends shall be paid to any shareholder until the old certificate has been surrendered and canceled.Added by Laws 1965, c. 161, § 405. Amended by Laws 1982, c. 223, § 6; Laws 1983, c. 73, § 6, emerg. eff. April 29, 1983; Laws 1997, c. 111, § 38, eff. July 1, 1997; Laws 2005, c. 48, § 11, eff. Nov. 1, 2005.
6 OK Stat § 6-405.1 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-405.1. Authorized but unissued stock.

|Any bank or trust company, with the written approval of the Commissioner and by majority vote of the outstanding voting stock, may by proper amendment to its certificate of incorporation authorize an increase in the common stock of the bank in the category of authorized but unissued stock. Such authorized but unissued stock may be issued from time to time to employees of the bank pursuant to a stock option or stock purchase plan adopted in accordance with the provisions of Section 40 of this act or in exchange for convertible preferred stock or convertible capital debentures in accordance with the terms and provisions of such securities. Authorized but unissued stock may also be issued from time to time for such other purposes and considerations as may be approved by the board of directors of the bank and by the written approval of the Commissioner. |Added by Laws 1997, c. 111, § 39, eff. July 1, 1997. Amended by Laws 1997, c. 374, § 2, eff. July 1, 1997.
6 OK Stat § 6-405.2 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-405.2. Employee stock option and stock purchase plans.

|A. Scope and application. Any bank or trust company may grant options to purchase, sell or enter into agreements to sell shares of its capital stock to its employees, for a consideration of not less than one hundred percent (100%) of the fair market value of the shares on the date the option is granted, or, if pursuant to a stock purchase plan, one hundred percent (100%) of the fair market value on the date the purchase price is fixed, pursuant to the terms of an employee stock option plan or employee stock purchase plan which has been adopted by the board of directors of the bank and approved by the holders of at least a majority of the outstanding shares of the bank entitled to vote and by the Commissioner. Stock options issued hereunder shall not extend beyond a period of ten (10) years from date of issuance and shall otherwise qualify as stock options under the provisions of the Internal Revenue Code of 1954, as it may be amended from time to time. |B. Source of shares. Shares issued to employees pursuant to this section may be authorized but unissued stock which has been authorized by stockholders in accordance with the procedures outlined in Section 39 of this act.Added by Laws 1997, c. 111, § 40, eff. July 1, 1997. Amended by Laws 1997, c. 374, § 3, eff. July 1, 1997.
6 OK Stat § 6-407 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-407. Amendment - Trust powers.

|Any bank heretofore organized not authorized by its certificate of incorporation to exercise trust powers may file an application with the State Banking Commissioner requesting such authority. |1. The application must be approved by majority vote of the outstanding voting stock and the resolution so adopted must be duly verified by the president or cashier of the bank.2. In passing upon the application, the Commissioner will give consideration to the following matters and to any other facts and circumstances the Commissioner deems proper:a.whether the bank has sufficient capital to exercise the fiduciary powers applied for, which capital shall be no less than Two Million Dollars ($2,000,000.00),b.the proposed market for fiduciary services and the probable volume of such fiduciary business available to the bank,c.the general condition of the bank, including the adequacy of its capital in relation to the character and condition of its assets and to its deposit liabilities and other corporate responsibilities, including the exercise of fiduciary powers,d.the general character and ability of the management of the bank,e.the nature of the supervision to be given to the fiduciary activities, including the qualifications, experience and character of the proposed officer or officers of the trust department, andf.whether the bank has available legal counsel to advise and pass upon fiduciary matters whenever necessary.3. The qualifying bank may, by appropriate amendment to its certificate of incorporation, change its name by adding thereto, "& Trust Company" or "and Trust Company".4. An application for authority to exercise trust powers shall be accompanied by a fee as set by rule of the Banking Board.Added by Laws 1965, c. 161, § 407. Amended by Laws 1975, c. 109, § 9, emerg. eff. May 7, 1975; Laws 1982, c. 223, § 8; Laws 1990, c. 173, § 3, emerg. eff. May 3, 1990; Laws 1997, c. 111, § 42, eff. July 1, 1997; Laws 2000, c. 205, § 14, emerg. eff. May 17, 2000.
6 OK Stat § 6-408 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-408. Amendment of existing articles of incorporation with certificate of incorporation.

|Each bank or trust company having articles of incorporation on file with the Secretary of State shall amend the articles with a certificate of incorporation as identified by Section 1005 of Title 18 of the Oklahoma Statutes using a form as prescribed by the Commissioner no later than November 1, 1997. |Added by Laws 1965, c. 161, § 408. Amended by Laws 1997, c. 111, § 43, eff. July 1, 1997.
6 OK Stat § 6-410 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-410. Capital debentures - Rediscounting notes to Federal Reserve.

|A. Borrowing - Capital debentures. A bank may borrow money and issue evidence of indebtedness and may issue convertible or nonconvertible capital notes or debentures subject to such terms, conditions or limitations as may be prescribed by the Board by order, rule or regulation. Capital notes or debentures which are by their terms expressly subordinated to the prior payment in full of all deposit liabilities of the bank shall be considered as part of the unimpaired capital funds of the bank for the purpose of the computation of the bank's loan and investment limit. |B. Rediscounting notes to Federal Reserve. Any bank may rediscount with and sell to a Federal Reserve Bank any notes, drafts, bills of exchange, acceptances and other securities, with no restrictions, and as fully and to the same extent as this privilege is given to national bank members under the terms of the Federal Reserve Act, or by regulations of the Federal Reserve Board made pursuant thereto.Added by Laws 1965, c. 161, § 410. Amended by Laws 1977, c. 208, § 5, emerg. eff. June 14, 1977; Laws 1983, c. 73, § 8, emerg. eff. April 29, 1983; Laws 1997, c. 111, § 45, eff. July 1, 1997.
6 OK Stat § 6-411 (2021)
2021 Oklahoma Statutes|Title 6. Banks and Trust Companies|§6-411. Pledge of assets - Banks.

|A. A bank may pledge its assets to: |1. Enable it to act as agent for the sale of obligations of the United States;2. Secure borrowed funds;3. Secure deposits when the depositor is required to obtain such security by the laws of the United States, by the terms of any interstate compact, by the laws of any state or by order of a court of competent jurisdiction;4. Secure the uninsured portion of deposits made by a governmental agency of the State of Oklahoma, any public trust having the State of Oklahoma as a beneficiary, rural water district, nonprofit rural water corporation or master conservancy districts formed pursuant to the Conservancy Act of Oklahoma, so long as the pledge is made with the same type of collateral and in the same manner and form as pledges made to secure deposits by the State Treasurer;5. Anyone as permitted by national banks; or6. Otherwise comply with the provisions of this Code.B. In the event the bank pledges assets pursuant to subsection A of this section, the bank shall maintain in its files documentation showing the legal authority or basis for such pledging.C. With respect to the pledge of assets for deposits identified in subsections A and B of this section, any such pledge shall only apply to the portion not insured by the Federal Deposit Insurance Corporation.Added by Laws 1965, c. 161, § 411. Amended by Laws 1992, c. 157, § 1, emerg. eff. May 5, 1992; Laws 1993, c. 38, § 1, eff. Sept. 1, 1993; Laws 1997, c. 111, § 46, eff. July 1, 1997; Laws 2000, c. 59, § 1, emerg. eff. April 14, 2000.