reglab/statecodes huggingface dataset:
2023 Oklahoma Statutes › Title 17. Corporation Commission › §17-801.9. Hydrogen fuel production standard – Annual report.

A. The State of Oklahoma shall set a hydrogen fuel production standard that will serve as an annual goal to be reached each year through 2028 to increase the production of hydrogen fuel in the state. Such hydrogen fuel production standard shall be to produce Two Million Metric Tons (2 MMT) of hydrogen fuel using a low or zero carbon source of energy annually by 2028.
B. Every qualified hydrogen fuel production facility that produces hydrogen fuel in this state shall report to the Corporation Commission by March 1 each year the amount of hydrogen fuel produced in the preceding calendar year and the low or zero carbon source of energy used to produce the hydrogen fuel. The Commission shall begin collecting the reports no later than March 1, 2024, and shall report annually to the President Pro Tempore of the Senate, the Speaker of the House of Representatives, and the Governor the annual hydrogen fuel production amount produced by qualified hydrogen production facilities for the preceding calendar year, gathered from reports submitted pursuant to this subsection, no later than May 1 of the first year of collection and each year thereafter. The Commission shall promulgate rules to effectuate the provisions of this subsection.
C. For purposes of this section, qualifying hydrogen fuel production shall include:
1. Hydrogen fuel produced from low carbon sources such as natural gas;
2. Hydrogen fuel produced from zero carbon sources such as:
a.
wind,
b.
photovoltaic,
c.
hydropower,
d.
geothermal, and
e.
biomass, which projects may include agricultural crops, wastes, and residues, wood, animal, and other degradable organic wastes, municipal solid waste, and landfill gas; and
3. Other low or zero carbon sources approved by the Commission.
Added by Laws 2022, c. 403, § 1, eff. Nov. 1, 2022.
2023 Oklahoma Statutes › Title 17. Corporation Commission › §17-802.2. Oklahoma Low Carbon Energy Initiative - Duties.

A. There is hereby created the Oklahoma Low Carbon Energy Initiative, referred to in Section 802.1 et seq. of this title as the Initiative, which shall serve as a strategic program designed to create, advance, and promote new and existing energy research and development, use, supply chain activity, and infrastructure related to Oklahoma's core energy competencies by:
1. Promoting research and development in the areas of conventional and unconventional oil and natural gas development and production, hydrogen production, storage, and distribution, CO2 enhanced oil recovery, wind forecasting, advanced biofuels, energy storage, water management, energy policy and economic analysis, energy system optimization, renewable energy integration into the electrical grid, and similar energy technologies;
2. Fostering communication and collaboration between state and federal governmental agencies, institutions of higher education, and private entities located throughout Oklahoma;
3. Advancing research and development programs and growing production, supply chain activity, and infrastructure that provide benefits to all industries and regions of the state;
4. Streamlining research and development efforts between private and public industry to create synergistic relationships that coordinate, not duplicate, efforts;
5. Establishing Oklahoma as a regional resource and clearinghouse for transformative energy technologies in the areas of traditional energy, hydrogen production, storage, and distribution, and renewable resource research and development;
6. Attracting best-in-class researchers to Oklahoma in competency areas aligned with Oklahoma's natural resource base;
7. Coordinating with the Oklahoma Department of Commerce to enhance venture capital investment in energy-related research and business opportunities; and
8. Promoting seed funding that can be leveraged against state, federal, and private-source funding to establish sufficient startup resources.
B. The Initiative may receive assistance from any state agency or public entity to implement the provisions of the Oklahoma Energy Initiative Act including, but not limited to, administrative assistance, staffing or legal counsel and provision of office space or equipment as necessary. Assistance agreements may be made by memorandums of understanding or as otherwise provided by law.
Added by Laws 2012, c. 247, § 2, emerg. eff. May 14, 2012. Amended by Laws 2022, c. 27, § 1, eff. Nov. 1, 2022.
2023 Oklahoma Statutes › Title 17. Corporation Commission › §17-802.4. Oklahoma Energy Initiative Revolving Fund.

A. There is hereby created in the State Treasury a revolving fund for the Oklahoma Energy Initiative to be designated as the "Oklahoma Energy Initiative Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Secretary of Energy and Environment or any other entity authorized to accept or expend funds on behalf of the Oklahoma Energy Initiative from any authorized source. All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Oklahoma Energy Initiative for the purpose of satisfying the objectives of the Oklahoma Energy Initiative Act.
B. State appropriations for the Initiative shall be made as otherwise provided by law and shall be directed to the Secretary of Energy, or to an agency otherwise directed by the Governor, which shall directly allocate the appropriations to the Initiative.
C. The Initiative is authorized to accept donations, grants or endowments from any person, corporation or entity to achieve the purpose and satisfy the objectives of the Initiative as provided by this act.
Added by Laws 2012, c. 247, § 4, emerg. eff. May 14, 2012. Amended by Laws 2014, c. 232, § 2, emerg. eff. May 6, 2014.
2023 Oklahoma Statutes › Title 18. Corporations › §18-1.248. Statutes, acts, and parts thereof specifically repealed.

The following statutes, acts, and parts thereof are hereby specifically repealed: Sections 121 to 126, inclusive, Title 12, Oklahoma Statutes 1941; Sections 891 to 896, inclusive, Title 12, Oklahoma Statutes 1941; Sections 1 to 186, inclusive, Title 18, Oklahoma Statutes 1941; and, Sections 451 to 459, inclusive, Title 18, Oklahoma Statutes 1941; Sections 501 to 508, inclusive of Title 18, O.S. 1941; Section 1 of Chapter 1, Title 18, Session Laws of 1945; and Section 1 to 25, inclusive, of Chapter 2, Title 18, Session Laws of 1945.
Added by Laws 1947, p. 188, § 248.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.1. Short title.

Sections 381.1 through 381.78 of this title and Sections 6, 7, 8, 25, 26, 27, 32, 37, 38, 39, 46, 50, 51, and 80 through 87 of this act shall be known and may be cited as the "Oklahoma Savings and Loan Code".
Added by Laws 1970, c. 101, § 1, eff. June 1, 1970. Amended by Laws 1987, c. 61, § 1, emerg. eff. May 4, 1987; Laws 1988, c. 65, § 1, emerg. eff. March 25, 1988; Laws 2000, c. 81, § 1, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.2a. Successor agency to Federal Savings and Loan Insurance Corporation - Construction of terms.

Wherever the terms "Federal Savings and Loan Insurance Corporation" or "FSLIC" appear in the Oklahoma Statutes, such terms shall be deemed to refer to the successor agency to the Federal Savings and Loan Insurance Corporation established pursuant to federal law.
Added by Laws 1993, c. 183, § 30, eff. July 1, 1993.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.3. Conformity of existing associations.

The certificate of incorporation and certificate of authority to transact business as an association, of every association heretofore organized under the laws of this state and existing as of January 1, 2000, shall continue in full force and effect, and the same shall be deemed as modified to conform with this act without the adoption of a new certificate of incorporation or issuance of a new certificate of authority. The contracts, obligations and liabilities of every such association, and the contracts, notes, mortgages, investments and other assets and rights of every kind and nature held by it, as well as its bylaws and resolutions, shall continue in full force and effect. Every such association and every association hereafter incorporated shall have perpetual existence, subject to merger, conversion or liquidation pursuant to the provisions of this act.
Added by Laws 1970, c. 101, § 3, eff. June 1, 1970. Amended by Laws 1988, c. 65, § 3, emerg. eff. March 25, 1988; Laws 2000, c. 81, § 3, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.4. Existing capital accounts.

The shares of capital, savings share accounts or other capital accounts of every existing association, and the certificates and passbooks evidencing the same, in whatever form issued, shall continue in full force and effect with full deposit account holders' rights, including the right to withdraw, to vote and to share in distribution of assets upon liquidation of the association.
Added by Laws 1970, c. 101, § 4, eff. June 1, 1970. Amended by Laws 2000, c. 81, § 4, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.5. Abolition of Oklahoma Savings and Loan Board - Transfer of power, duties and responsibilities to State Banking Commissioner.

A. The Oklahoma Savings and Loan Board is abolished. The power, duties and responsibilities exercised by the Oklahoma Savings and Loan Board shall be transferred to the State Banking Commissioner. All unexpended funds, property, records, personnel and outstanding financial obligations and encumbrances of the Oklahoma Savings and Loan Board are hereby transferred to the Oklahoma State Banking Department.
B. Any reference to the Oklahoma Savings and Loan Board in the Oklahoma Statutes or in rules promulgated pursuant to the Oklahoma Statutes shall mean the State Banking Commissioner.
C. The rules promulgated by the Oklahoma Savings and Loan Board shall continue in effect until such rules are amended or repealed by rule of the Commissioner promulgated pursuant to the provisions of Article I of the Administrative Procedures Act, Section 250.3 et seq. of Title 75 of the Oklahoma Statutes.
Added by Laws 1970, c. 101, § 5, eff. June 1, 1970. Amended by Laws 1988, c. 65, § 4, emerg. eff. March 25, 1988; Laws 1993, c. 183, § 31, eff. July 1, 1993; Laws 2000, c. 81, § 5, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.6a. Records - Confidentiality.

A. The following records in the Oklahoma State Banking Department are designated as public records:
1. All applications for association charters and branches and supporting information with the exception of personal financial records of individual applicants;
2. All records introduced at public hearings on association charter and branch applications;
3. Information disclosing the failure of an association, a foreign association and their branches in this state and the reasons therefor;
4. Reports of completed investigations which uncover a shortage of funds in an association or an out-of-state association and branches of either, after the reporting of the shortage to proper authorities by the State Banking Commissioner;
5. Names of all stockholders and officers of associations, foreign associations, holding companies, and branches of foreign associations located in this state filed in the office of the Secretary of State; and
6. Regular financial call reports of associations.
B. All other records in the Department shall be confidential and not subject to public inspection. However, the Commissioner may, in the sole discretion of the Commissioner, divulge such confidential information after receipt of a written request which shall:
1. Specify the record or records to which access is requested; and
2. Give the reasons for the request.
Such records may also be produced pursuant to a valid judicial subpoena or other legal process requiring production, if the Commissioner determines that the records are relevant to the hearing or proceeding and that production is in the best interests of justice. The records may be disclosed only after a determination by the Commissioner that good cause exists for the disclosure. Either prior to or at the time of any disclosure, the Commissioner shall impose such terms and conditions as the Commissioner deems necessary to protect the confidential nature of the record, the financial integrity of any institution to which the record relates, and the legitimate privacy of any individual named in such records.
Added by Laws 2000, c. 81, § 6, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.8a. Preservation of documents – Electronically stored or imaged documents or reproductions.

All documents which the Oklahoma State Banking Department is required, by any provision of this act or by any other statute or rule of this state, to retain or preserve in its possession may be retained and preserved, in lieu of retention of the original records or copies, in an electronic format and stored by electronic imaging or otherwise so that the documents may be reproduced later. Any such electronically stored or imaged document or reproduction shall have the same force and effect as the original document and be admitted in evidence as if such document was the original.
Added by Laws 2000, c. 81, § 8, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.10. Certificate of authority.

No association or foreign association shall transact business or operate in this state without a certificate of authority issued by the State Banking Commissioner.
Laws 1970, c. 101, § 10, eff. June 1, 1970; Laws 1993, c. 183, § 34, eff. July 1, 1993.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.13. Savings and loan administrator.

The State Banking Commissioner may appoint a savings and loan administrator with special duties and authority of conducting and supervising examinations of associations in addition to such other duties as the Commissioner may assign to the savings and loan administrator.
The bond of the savings and loan administrator shall be the same as that set for the Deputy State Banking Commissioner.
Added by Laws 1970, c. 101, § 13, eff. June 1, 1970. Amended by Laws 1979, c. 173, § 10; Laws 1988, c. 65, § 7, emerg. eff. March 25, 1988; Laws 2000, c. 81, § 10, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.14. Limitation of liability.

The State Banking Commissioner, or any member of his staff including any member of the Savings and Loan Advisory Council, shall not be liable in any civil action for damages for any act done or omitted in good faith in performing the functions of his office.
Laws 1970, c. 101, § 14, eff. June 1, 1970; Laws 1993, c. 183, § 36, eff. July 1, 1993.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.16. Filing requirements for new mutual and stock associations.

At any time hereafter when ten or more individuals, residents of this state, desire to form a mutual association, or one or more individuals, residents of this state, desire to form a stock association under the provisions of this act, such persons, hereinafter referred to as the incorporators, shall file with the State Banking Commissioner the following:
1. Four copies of the proposed certificate of incorporation, signed and acknowledged by all of the incorporators and addressed to the Secretary of State;
2. An original and three copies of an application for a certificate of authority to transact business as an association, addressed to the Commissioner;
3. Four copies of the proposed bylaws for the proposed association;
4. A remittance of Two Hundred Dollars ($200.00) payable to the Secretary of State of Oklahoma, as the incorporation fee in lieu of the fees prescribed by paragraph 9 of subsection A of Section 1142 of this title, which shall not be applicable to an association; and
5. A deposit of Two Thousand Dollars ($2,000.00) payable to the Commissioner to be used for the purpose of defraying expenses of an investigation and report of the feasibility of the proposed association and other expenses incidental to the consideration of the application.
Added by Laws 1970, c. 101, § 16, eff. June 1, 1970. Amended by Laws 1975, c. 236, § 3, emerg. eff. May 30, 1975; Laws 1984, c. 229, § 7, operative July 1, 1984; Laws 1988, c. 65, § 9, emerg. eff. March 25, 1988; Laws 1990, c. 118, § 3, emerg. eff. April 23, 1990; Laws 1993, c. 183, § 38, eff. July 1, 1993; Laws 2000, c. 81, § 12, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.17. Contents of certificate of incorporation.

The certificate of incorporation shall set forth:
1. The name of the association;
2. That its term of existence is perpetual;
3. That the purpose for which it is formed is to engage in the business of an association pursuant to the Oklahoma Savings and Loan Code and the rules promulgated thereunder;
4. The place where it is to maintain the main office for the transaction of business;
5. The names and addresses of the incorporators, and the amounts of the deposit accounts or number of shares of stock subscribed by each of them;
6. If the association will be a stock association, the number of shares of stock of each class to be authorized and issued and the par value per share; and
7. Such other proper provisions to govern the business and affairs of the association as may be desired by the incorporators.
Added by Laws 1970, c. 101, § 17, eff. June 1, 1970. Amended by Laws 1988, c. 65, § 10, emerg. eff. March 25, 1988; Laws 1993, c. 183, § 39, eff. July 1, 1993; Laws 2000, c. 81, § 13, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.18. Application and supporting data.

The application for a certificate of authority to transact business as an association shall be accompanied by data concerning the community in which the proposed association is to be located, the occupations of the incorporators, and a plan for payment of expenses of the proposed association until it is incorporated and is granted a certificate of authority, in the case of a stock association, or until it becomes self-sustaining from its own operating income in the case of a mutual association.
Added by Laws 1970, c. 101, § 18, eff. June 1, 1970. Amended by Laws 1988, c. 65, § 11, emerg. eff. March 25, 1988; Laws 2000, c. 81, § 14, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.19. Order – Certificate of authority.

The State Banking Commissioner shall act upon and issue an order granting or denying each application for a certificate of authority. If the Commissioner finds that the application should be granted, the Commissioner shall designate the amount of deposit accounts required and fix a reasonable time within which the funds subscribed may be placed in escrow in a bank or trust company approved by the Commissioner, to be delivered to the association after incorporation or returned to the subscribers if incorporation is not completed. The Commissioner may also require the incorporators to advance funds necessary to pay organizational expenses and other expenses for starting business, such advances to be repaid by the association after its incorporation and the granting of its certificate of authority, in the case of a stock association, or after its income is sufficient to meet reserve requirements, in the case of a mutual association, and further, in the case of a mutual association, to pay reasonable earnings on the deposit accounts of the association. If and when all requirements are met, a certificate of authority shall be issued by the Commissioner. The Secretary of State shall file the approved certificate of incorporation upon receipt of the incorporation fee. If the deposit accounts of the association are to be insured, approval shall be contingent upon the making, by the proposed association, of a bona fide application for insurance of accounts and deposits by the Federal Deposit Insurance Corporation and upon approval of such application by the Federal Deposit Insurance Corporation.
Added by Laws 1970, c. 101, § 19, eff. June 1, 1970. Amended by Laws 1975, c. 236, § 4, emerg. eff. May 30, 1975; Laws 1988, c. 65, § 12, emerg. eff. March 25, 1988; Laws 1990, c. 118, § 4, emerg. eff. April 23, 1990; Laws 1993, c. 183, § 40, eff. July 1, 1993; Laws 2000, c. 81, § 15, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.20. Payment into escrow account - Required savings capital.

A. Before a certificate of authority is issued for a new mutual association, there shall be paid into the escrow fund as subscriptions to deposit accounts of the proposed association such aggregate amount as the State Banking Commissioner shall deem adequate, but, if insured, not less than an amount necessary to meet the requirements of the Federal Deposit Insurance Corporation. If the organizers intend to organize and operate the association without federal insurance on its deposit accounts, the amount paid into the escrow fund as subscriptions to deposit accounts of the proposed association shall be at the sole discretion of the Commissioner.
B. No permanent capital stock association may be organized hereafter unless, prior to the filing of its certificate of incorporation, such amounts of its permanent capital stock as the Commissioner shall deem adequate, but, if insured, not less than an amount necessary to meet the requirements of the Federal Deposit Insurance Corporation shall have been subscribed for and paid for in lawful money of the United States. If the organizers intend to organize and operate the association without federal insurance on its deposit accounts, the amount of permanent capital stock required shall be at the sole discretion of the Commissioner.
Added by Laws 1970, c. 101, § 20, eff. June 1, 1970. Amended by Laws 1978, c. 168, § 2, eff. July 1, 1979; Laws 1987, c. 61, § 3, emerg. eff. May 4, 1987; Laws 1988, c. 65, § 13, emerg. eff. March 25, 1988; Laws 1990, c. 118, § 5, emerg. eff. April 23, 1990; Laws 1993, c. 183, § 41, eff. July 1, 1993; Laws 2000, c. 81, § 16, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.21. Corporate existence - Organizational meeting.

The corporate existence of an association shall begin on the date of filing of the certificate of incorporation with the Secretary of State and within thirty (30) days thereafter an organizational meeting shall be held by the deposit account holders or permanent capital stock subscribers pursuant to notice mailed to each of them not less than seven (7) days before the date of the meeting. At such meeting, bylaws of the association shall be adopted and directors shall be elected.
Added by Laws 1970, c. 101, § 21, eff. June 1, 1970. Amended by Laws 1978, c. 168, § 3, eff. July 1, 1979; Laws 1988, c. 65, § 14, emerg. eff. March 25, 1988; Laws 2000, c. 81, § 17, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.22. Corporate name.

The name of every association hereafter incorporated pursuant to this act, and of any existing association which hereafter changes its name, shall be approved by the State Banking Commissioner. The name shall not so nearly resemble the name of another association or federal association as to be likely to deceive the public. Associations may operate under trade names as approved by the Commissioner.
Added by Laws 1970, c. 101, § 22, eff. June 1, 1970. Amended by Laws 1987, c. 61, § 4, emerg. eff. May 4, 1987; Laws 1990, c. 118, § 6, emerg. eff. April 23, 1990; Laws 1993, c. 183, § 42, eff. July 1, 1993; Laws 2000, c. 81, § 18, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.23. Exclusiveness of name.

No person, firm, company, partnership or corporation, either domestic or foreign, unless lawfully authorized to do business in this state under the provisions of this act, shall do business in this state under any name or title which contains the terms "savings and loan", "building and loan", "savings association", "savings bank" or combination of such terms in any manner which indicates or reasonably implies that its business is of the character or kind carried on or transacted by an association, or that is likely to lead any person to believe that such business is that of an association. Upon application by the Commissioner, or any association, a court of competent jurisdiction may issue an injunction to restrain any such entity from violating or continuing to violate the provisions of this section.
Added by Laws 1970, c. 101, § 23, eff. June 1, 1970. Amended by Laws 1988, c. 65, § 15, emerg. eff. March 25, 1988; Laws 2000, c. 81, § 19, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.24. Change of office location - Change of name.

No association shall move its main office or branch office, or change its name except with permission granted by order of the State Banking Commissioner. In the event permission is granted to move the main office to a town or city other than that named in the certificate of incorporation of the association, or to change the name, an amended certificate of incorporation shall be filed.
Added by Laws 1970, c. 101, § 24, eff. June 1, 1970. Amended by Laws 1988, c. 65, § 16, emerg. eff. March 25, 1988; Laws 1990, c. 173, § 19, emerg. eff. May 3, 1990; Laws 1993, c. 183, § 43, eff. July 1, 1993; Laws 2000, c. 81, § 20, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.24b. Detached facilities - Certificate - Making of loans prohibited - Penalty.

A. 1. Any association may maintain and operate, subject to the approval of the State Banking Commissioner as evidenced by the certificate of the Commissioner, outside attached facilities and detached facilities on real property owned or leased by the association having one or more tellers' windows for drive-in or walk-up service or both.
2. Any branch may maintain and operate outside attached facilities having one or more tellers' windows for drive-in or walk-up service or both on property owned or leased by the association.
B. 1. No association shall be permitted to maintain and operate such additional outside facilities except upon certificate issued by the Commissioner. The issuance of the certificates shall rest solely in the discretion of the Commissioner.
2. The application for a certificate to maintain and operate a detached facility shall comply with the rules of the Commissioner. An application fee shall be payable to the Oklahoma State Banking Department in an amount set by rule of the Commissioner.
3. Any association function may be performed at the facilities except that of making loans. Upon the recommendation of the Commissioner, the Attorney General shall bring an appropriate action to enjoin an association from conducting the making of loans at such facilities.
4. Any association validly operating a detached facility prior to May 3, 1990, shall be granted a certificate to continue its operation at such facility.
5. The provisions of this section shall not be construed in derogation or denial of the right to operate and maintain facilities as provided for in Sections 381.24c and 381.24d of this title.
C. A violation of any portion of this section shall be and constitute a misdemeanor punishable upon conviction by a fine not exceeding Five Hundred Dollars ($500.00). Each day's violation shall constitute a separate offense.
D. Nothing contained in this section shall be construed to limit the authority of federal savings associations to maintain and operate outside or detached facilities in accordance with federal law and regulations.
Added by Laws 1990, c. 173, § 21, emerg. eff. May 3, 1990. Amended by Laws 1993, c. 183, § 45, eff. July 1, 1993; Laws 2000, c. 81, § 22, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.24c. Military savings facilities - Certificate - Application - Functions permitted - Penalty.

A. Any association may, subject to the approval of the State Banking Commissioner as evidenced by its certificates, and subject to the approval of the military installation commander as evidenced by a letter of approval, maintain and operate a military savings facility on any military installation located in this state.
B. As used in this section, the term "military savings facility" shall mean a detached facility or branch maintained by an association upon a military installation within this state, provided such military savings facility must be within the confines of a military reservation and located upon property owned or leased by the United States government.
C. 1. No association shall be permitted to maintain and operate such military savings facility, except on certificate issued by the Commissioner. The issuance of such certificate shall rest solely in the discretion of the Commissioner.
2. The application for a certificate to maintain and operate a military savings facility shall comply with the regulations of the Commissioner. An application fee shall be payable to the Oklahoma State Banking Department in an amount set by rule of the Commissioner.
3. No association function shall be performed at the facility save that of accepting deposits, cashing checks, making change, selling drafts, cashier's checks, money orders, traveler's checks, etc., accepting payment for personal utility bills, redeeming and selling United States Savings Bonds, and such other services as the installation commander may request, in writing, of the association. Upon the recommendation of the Commissioner, the Attorney General shall bring an appropriate action to enjoin an association from conducting association functions at such facility other than those herein granted.
D. A violation of any portion of this section shall be and constitute a misdemeanor punishable upon conviction by a fine not exceeding Five Hundred Dollars ($500.00). Each day's violation shall constitute a separate offense.
Added by Laws 1990, c. 173, § 22, emerg. eff. May 3, 1990. Amended by Laws 1993, c. 183, § 46, eff. July 1, 1993; Laws 2000, c. 81, § 23, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.24e. Operations centers.

Upon written notice to the State Banking Commissioner, any association may establish one or more operations centers on property owned or leased by the association. For purposes of this section, "operations center" means an association facility separated from the main office of the association at which only the following association operations are conducted: computer processing, information systems, electronic communications, loan payment processing, bookkeeping, item processing, currency and coin processing and storage, data processing, and all support functions related thereto.
Added by Laws 2000, c. 81, § 25, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.24f. Origination of loans and deposit accounts at locations other than main or branch office.

Subject to rules as may be promulgated by the State Banking Commissioner, an association may utilize employees of the association to originate loans or originate deposit accounts, or both, at locations other than the main office or a branch office of such association, provided that the loan decision is made and the loan is funded at the main office or a branch office of the association and provided that no deposits shall be accepted or received at the deposit origination office.
Added by Laws 2000, c. 81, § 26, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.24g. Association subsidiary as agent of holding company.

A. Any association subsidiary of an association holding company may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for any other bank or association owned or controlled by the same holding company.
B. Despite any other provision of law, an association as an agent in accordance with subsection A of this section for an affiliate shall not be considered a branch of the affiliate.
C. An agency relationship between subsidiary institutions pursuant to subsection A of this section shall be on terms that are consistent with safe and sound practices and all applicable regulations of any appropriate regulatory agency.
Added by Laws 2000, c. 81, § 27, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.25. Amendment of certificate of incorporation.

An amended certificate of incorporation must be signed and acknowledged by all of the directors of the association, and shall conform with the requirements for the original certificate of incorporation except that the names and addresses of the directors shall be stated in lieu of names of the incorporators. An amended certificate of incorporation shall be submitted to the State Banking Commissioner for approval and shall be filed with the Secretary of State upon payment by the association of the statutory filing fees for filing an amended certificate of incorporation.
Added by Laws 1970, c. 101, § 25, eff. June 1, 1970. Amended by Laws 1987, c. 61, § 5, emerg. eff. May 4, 1987; Laws 1988, c. 65, § 17, emerg. eff. March 25, 1988; Laws 2000, c. 81, § 28, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.26. Bylaws - Resolutions of savings and loan associations - Limiting director's liability.

A. The bylaws of every association shall prescribe the notice and the time and place of the annual meeting of members or stockholders; the requirements for holding special meetings of members or stockholders; and the manner of determining the number and terms of office of the directors.
B. 1. Provisions with respect to directors' meetings, the selection and duties of officers, making of loans, issuance of various classes of deposit accounts or permanent capital stock, distribution of earnings, amendments of the bylaws, rights and obligations of members or stockholders, and any other matters concerning operations of the association not in conflict with this act or rules of the State Banking Commissioner and not otherwise inconsistent with law or the certificate of incorporation of the association may be included in the bylaws.
2. The bylaws or a resolution of an association as adopted or amended by the members or stockholders may include a provision eliminating or limiting the personal liability of a director to the association or its holding company, or to the shareholders of either for any negligence in the performance of his duties but not for:
a.
any breach of the director's duty of loyalty to the association or its holding company, or to the shareholders of either,
b.
acts or omissions not in good faith or which involve intentional misconduct or a violation of law, or
c.
any transaction from which the director derived an improper personal benefit.
C. All bylaws and amendments hereafter adopted shall be promptly submitted to the Commissioner for approval. Any decision of the Commissioner disapproving proposed amendments may be appealed pursuant to the provisions of Section 207 of Title 6 of the Oklahoma Statutes.
D. The bylaws of each association shall constitute laws of the association, subordinate to this act, to the rules of the Commissioner, and to applicable federal regulations.
E. The provisions of the Oklahoma General Corporation Act shall, insofar as the Oklahoma General Corporation Act is not inconsistent with this act, govern associations operating pursuant to the provisions of this act.
Added by Laws 1970, c. 101, § 26, eff. June 1, 1970. Amended by Laws 1978, c. 168, § 4, eff. July 1, 1979; Laws 1987, c. 61, § 6, emerg. eff. May 4, 1987; Laws 1988, c. 65, § 18, emerg. eff. March 25, 1988; Laws 1990, c. 118, § 7, emerg. eff. April 23, 1990; Laws 1993, c. 183, § 48, eff. July 1, 1993; Laws 2000, c. 81, § 29, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.27. Membership and voting rights.

Every holder of a deposit account of a mutual association and every borrower on the security of a mortgage or acquiring ownership of property upon which a mortgage is held by the association shall be deemed a member of such association. In a mutual association, a holder of a deposit account shall be entitled to one vote for each One Hundred Dollars ($100.00) of the deposit account of the holder, and a mortgagor or owner of property on which the association holds a mortgage shall be entitled to one vote at all meetings of the members. Holders of the capital stock in a stock association shall have exclusive voting rights.
Added by Laws 1970, c. 101, § 27, eff. June 1, 1970. Amended by Laws 1978, c. 168, § 5, eff. July 1, 1979; Laws 2000, c. 81, § 30, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.28. Members meetings.

An annual meeting of the members or stockholders of each association shall be held to elect directors, and special meetings of the members or stockholders may be called and held pursuant to such notice as may be provided by the bylaws.
Amended by Laws 1988, c. 65, § 19, emerg. eff. March 25, 1988.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.29. Voting by proxy.

At any meeting of the members or stockholders of an association or federal association voting may be in person or by proxy appointing a person or group to cast the votes of the member or stockholder, provided that no proxy shall be eligible to be voted at any meeting unless such proxy shall have been filed with the association at least five (5) days prior to the date of the meeting. Unless otherwise specified in the proxy, every proxy shall continue in force from year to year until revoked by a writing duly delivered to the secretary or until superseded by a subsequent proxy.
Laws 1970, c. 101, § 29, eff. June 1, 1970; Laws 1978, c. 168, § 7, eff. July 1, 1979.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.30. Quorum.

At an annual meeting or at any special meeting of the members any number of members present in person or by proxy eligible to be voted constitutes a quorum. At an annual meeting or at any special meeting of a stock association, stockholders of a majority of the stock held shall be present in person or by proxy eligible to be voted to constitute a quorum. A majority of all votes cast at any meeting of members shall determine any questions unless this act specifically provides otherwise.
Laws 1970, c. 101, § 30, eff. June 1, 1970; Laws 1978, c. 168, § 8, eff. July 1, 1979.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.31. Directors.

A. The operating and business policies of each association shall be directed by a board of directors of not less than five nor more than fifteen persons elected by a majority of the votes of the members or stockholders present in person or by proxy at the annual meeting. Directors need not be members or stockholders unless so required by the association's certificate of incorporation or bylaws. A majority of the directors shall be bona fide residents of this state. Directors may be elected for a longer term than one (1) year if the bylaws so provide, but no director may be elected for a term longer than three (3) years, and the terms of at least two directors shall expire each year.
B. If a vacancy occurs with respect to the board of directors, the remaining directors, though less than a quorum, may fill such vacancy by electing a director or directors to serve the remainder of the unexpired term for the class of directors in which such vacancies exist.
C. The board of directors shall meet each year, following the annual members' or stockholders' meeting, and shall elect the officers at such meeting. Such additional meetings of the board of directors shall or may be held as the bylaws shall require or permit. A majority of the directors, if present at any meeting, shall constitute a quorum unless the bylaws otherwise provide.
Added by Laws 1970, c. 101, § 31, eff. June 1, 1970. Amended by Laws 1978, c. 168, § 9, eff. July 1, 1979; Laws 1986, c. 219, § 5, emerg. eff. June 9, 1986; Laws 1987, c. 61, § 7, emerg. eff. May 4, 1987; Laws 1988, c. 65, § 20, emerg. eff. March 25, 1988; Laws 2000, c. 81, § 31, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.31a. Examination of association affairs by board of directors.

The board of directors of every association shall examine, at least once in each calendar year at intervals of not more than fifteen (15) months, all the affairs of the association including the character and value of investments and loans, the efficiency of operating procedures, and such other matters as the Commissioner prescribes. A report of the examination shall be submitted promptly to the Commissioner and shall embody such information as the Commissioner requires. The board of directors may provide that such examination shall be conducted by a committee of not less than three directors, by certified public accountants, or by independent auditors responsible only to the board of directors. Such examination shall be made when practicable without the assistance of the executive officers of the bank or trust company. Such report of examination shall be reviewed by the directors at the next meeting of the board of directors.
Added by Laws 2000, c. 81, § 32, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.32. Officers.

The officers of an association shall consist of a president to be chosen from among the directors, one or more vice-presidents, a secretary, a treasurer, and any other officers authorized by the bylaws or by the directors. Any number of offices may be held by the same person unless the certificate of incorporation or bylaws provide otherwise.
Amended by Laws 1988, c. 65, § 21, emerg. eff. March 25, 1988.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.33. Indemnification - Directors, officers, employees and agents.

Any association shall have power to indemnify any person who is or was an officer, director, employee or agent of the association, or who is or was serving at the request of the association as an officer, director, employee or agent of another corporation, partnership, joint venture, trust or other enterprise unless such person has violated paragraph 2 of subsection B of Section 381.26 of this title, in accordance with Section 1031 of this title.
Amended by Laws 1987, c. 61, § 8, emerg. eff. May 4, 1987.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.34. Fidelity bonds - Waiver.

Every association must protect itself against loss of money or property by or through any fraud, dishonesty, forgery or alteration, larceny, theft, embezzlement, or other criminal act of any director, officer, employee or agent, by a blanket bond covering all personnel and agents or by individual fidelity bonds, issued by a corporate surety. The amount and form of each such bond and sufficiency of the surety thereon shall be subject to review and disapproval by the State Banking Commissioner. The Commissioner may waive the bond requirement, in whole or in part, upon a showing by the association that such bonding is either unavailable, economically infeasible, or an imprudent business decision. Such waiver shall be for a period of time, to be stated in the Commissioner's order, not exceeding one (1) year, subject to extension upon further application. The order of the Commissioner waiving the bond requirement shall be conditioned on the association continuing to seek an available, economically feasible bond.
Added by Laws 1970, c. 101, § 34, eff. June 1, 1970. Amended by Laws 1987, c. 61, § 9, emerg. eff. May 4, 1987; Laws 2000, c. 81, § 33, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.36. Reserves and liquidity.

Every association shall set up and maintain reserves for the purpose of absorbing losses and shall maintain such portion of its assets in cash and other liquid assets as shall be required by regulations of the State Banking Commissioner and by other applicable federal regulations.
Added by Laws 1970, c. 101, § 36, eff. June 1, 1970. Amended by Laws 1988, c. 65, § 22, emerg. eff. March 25, 1988; Laws 1990, c. 118, § 8, emerg. eff. April 23, 1990; Laws 1993, c. 183, § 49, eff. July 1, 1993; Laws 2000, c. 81, § 34, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.37. Capital - Deposit accounts - Liability.

A. A mutual association may raise capital in the form of deposit accounts or shares for such fixed, minimum or indefinite periods of time as are authorized by its bylaws or by regulations of the State Banking Commissioner. Such deposit accounts shall all have equal priority upon liquidation. A mutual association may issue such passbooks, certificates, and other evidence of deposit accounts as are now or hereafter so authorized. With the exception of forms now in use by existing associations, all such forms evidencing deposit accounts shall be promptly submitted to the Commissioner, or to the Director of the Office of Thrift Supervision, and the issuance of any such form shall be immediately discontinued in the event of disapproval. Unless otherwise provided by its bylaws, the total amount of deposit account liability of a mutual association is unlimited.
B. A stock association may incur liabilities in the form of deposit accounts for such fixed, minimum or indefinite periods of time as are authorized by its bylaws or by regulations of the Commissioner. Such deposits shall all have equal priority upon liquidation. A stock association may issue such passbooks, certificates and other evidence of deposits as are now or may hereafter be authorized for deposit associations. New or proposed forms evidencing deposit accounts shall be promptly submitted to the Commissioner and to the Director of the Office of Thrift Supervision, and the issuance of any such form shall be immediately discontinued in the event of disapproval. In stock associations, holders of deposit accounts shall participate first in all assets upon liquidation, but only to the extent of their deposit accounts. Unless otherwise provided by its bylaws, the total amount of deposit account liability of a stock association is unlimited.
Added by Laws 1970, c. 101, § 37, eff. June 1, 1970. Amended by Laws 1978, c. 168, § 11, eff. July 1, 1979; Laws 1988, c. 65, § 23, emerg. eff. March 25, 1988; Laws 1990, c. 118, § 9, emerg. eff. April 23, 1990; Laws 1993, c. 183, § 50, eff. July 1, 1993; Laws 2000, c. 81, § 35, eff. Nov. 1, 2000.
2023 Oklahoma Statutes › Title 18. Corporations › §18-381.38. Classification of deposit accounts.

Any association may classify its deposit accounts according to the character, amount or duration thereof, or regularity of additions thereto, and may pay additional or higher rates of earnings on accounts based on such classifications than is paid on regular deposit accounts, provided that any such higher rate, or bonus, to be paid on any class of accounts shall not exceed the limitations prescribed by the State Banking Commissioner or by applicable federal regulations. A mutual association may also classify its accounts according to type of account, such as full paid, single payment, installment, optional installment, bonus or other types of accounts designated by the bylaws and permitted by the Commissioner.
Added by Laws 1970, c. 101, § 38, eff. June 1, 1970. Amended by Laws 1978, c. 168, § 12, eff. July 1, 1979; Laws 1990, c. 118, § 10, emerg. eff. April 23, 1990; Laws 1993, c. 183, § 51, eff. July 1, 1993; Laws 2000, c. 81, § 36, eff. Nov. 1, 2000.