reglab/statecodes huggingface dataset:
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1312. Garnishment - Proceedings in aid of execution.

In any action wherein garnishment summons is served on the lessor or a party to an action seeks to subject a box or contents thereof to the garnishment or order of court, the lessor, upon being served with such garnishment or court order, shall seal the box and deny access thereto to all persons except as ordered by the court. A court of record may, in a proceeding wherein the lessee is a party, in aid of execution or for the purpose of enforcing its orders, direct the sheriff or marshal to enter a box, remove the contents therefrom and hold, deliver or sell such contents as permitted by law. Damages suffered by the lessor by reason of forcible entry as provided herein shall be assessed as costs and paid to the lessor by the garnishment creditor. If no court order directing entry into the box is served upon the lessor within thirty (30) days after a garnishment summons is received by the lessor, the box shall be unsealed and the lessor shall no longer be required to deny access to parties entitled thereto.
Added by Laws 1965, c. 161, § 1312. Amended by Laws 1995, c. 36, § 22, eff. July 1, 1995; Laws 1997, c. 111, § 105, eff. July 1, 1997.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1403. Unlawful use of words "safe deposit".

It is unlawful for any person to use the words "safe deposit", "safety deposit" or other words deceptively similar thereto, in connection with the rental of storage space, or in the title or name under which business was done, unless the person is:
1. A person subject to the jurisdiction of the Banking Department of this state;
2. A manufacturer or dealer in safe deposit facilities or equipment; or
3. An association, the membership of which is composed of officers or institutions subject to the jurisdiction of the Banking Department of this or other states.
Added by Laws 1965, c. 161, § 1403. Amended by Laws 1997, c. 111, § 107, eff. July 1, 1997.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1405. Unlawful gratuity or compensation - Transactions of persons connected with bank.

A. It shall be unlawful for an affiliate of a bank or trust company or for an officer, director or employee of a bank or trust company or affiliate of a bank or trust company:
1. To solicit, accept or agree to accept, directly or indirectly, from any person other than the institution any gratuity, compensation or other personal benefit for any action taken by the institution or for endeavoring to procure any such action; or
2. To have any interest, directly or indirectly, in the proceeds of a loan or of a purchase or sale made by the bank, unless such loan is otherwise permissible, and the purchase or sale is expressly authorized by this Code or by rule of the Board and, unless otherwise directed in writing by the Commissioner, is specifically approved by vote of a majority of the board of directors of the bank or trust company. Provided, no interested director or trustee shall take part in such vote.
B. In this section the term "affiliate" shall include:
1. Any person who holds a majority of the stock of a bank or has been determined by the Board to hold a controlling interest therein, any other corporation in which such person owns a majority of the stock and any partnership in which the person has an interest;
2. Any corporation in which the institution or an officer, director or employee thereof holds a majority of the stock and any partnership in which such person has an interest; or
3. Any corporation of which a majority of the directors are officers, directors or employees of the institution or of which officers, directors, trustees or employees constitute a majority of the directors of the institution.
Added by Laws 1965, c. 161, § 1405. Amended by Laws 1975, c. 109, § 16, emerg. eff. May 7, 1975; Laws 1979, c. 173, § 8; Laws 1984, c. 133, § 8, eff. Oct. 1, 1984; Laws 1997, c. 111, § 108, eff. July 1, 1997; Laws 2005, c. 48, § 17, eff. Nov. 1, 2005.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1406. Receipt of deposit after notification of insolvency.

It shall be unlawful for a bank to receive any deposit after the bank has been notified by its primary regulator that it is insolvent or for an officer, director or employee who knows or, in the proper performance of his duty, should know of the notification of such insolvency to receive or authorize the receipt of such deposit, if such deposit, when aggregated together with other funds held by the depositor in the same right and capacity, would exceed the limit of federal deposit insurance coverage.
Added by Laws 1965, c. 161, § 1406. Amended by Laws 1992, c. 295, § 7, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1407. Unlawful service as officer or director.

It is unlawful for any person to serve as an officer or director of a bank who:
(1) has been convicted of an offense constituting in the jurisdiction in which the conviction was rendered a violation of the banking laws, a felony involving dishonesty or a breach of trust.
(2) is indebted to the bank for more than thirty (30) days upon a judgment that has become final.
Added by Laws 1965, c. 161, § 1407.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1408. Unlawful service as Commissioner, Deputy Commissioner, Administrative Assistant, Assistant Commissioner.

It shall be a criminal offense for any person to serve as Commissioner, Deputy Commissioner, Administrative Assistant or Assistant Commissioner, of the Department who has been convicted of an offense constituting, in the jurisdiction in which the conviction was had, a violation of the banking laws, a felony involving dishonesty or a breach of trust.
Added by Laws 1965, c. 161, § 1408. Amended by Laws 1970, c. 321, § 9; Laws 1997, c. 111, § 109, eff. July 1, 1997.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1409. Unlawful concealment of transactions.

It shall be unlawful for an officer, director, employee, attorney, or agent of a bank or trust company to conceal or endeavor to conceal any transaction of the bank or trust company from any officer, director or employee of the bank or trust company or any official or employee of the department to whom it should be properly disclosed.
Added by Laws 1965, c. 161, § 1409.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1410. Improper maintenance of accounts - False or deceptive entries and statements.

It shall be unlawful for an officer, director, employee or agent of a bank or trust company:
(1) to maintain or authorize the maintenance of any account of the bank or trust company in a manner which, to his knowledge, does not conform to the requirements prescribed by this Code or by the Commissioner or the Board.
(2) with intent to deceive, to make any false or misleading statement or entry or omit any statement or entry that should be made in any book, account, report or statement of the institution.
(3) to obstruct or endeavor to obstruct a lawful examination of the institution by an officer or employee of the Department.
Added by Laws 1965, c. 161, § 1410.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1411. Unlawful payment of penalties and judgments against others, including directors and officers.

It shall be unlawful for a bank or trust company to pay a fine or penalty imposed by law upon any other person or any judgment against such person or to reimburse directly or indirectly any person by whom such fine, penalty or judgment has been paid, except in settlement of its own liability or in connection with the acquisition of property against which such judgment is a lien, or as provided in Section 68 of Enrolled House Bill No. 2173 of the 1st Session of the 46th Oklahoma Legislature.
Added by Laws 1965, c. 161, § 1411. Amended by Laws 1997, c. 111, § 110, eff. July 1, 1997; Laws 1997, c. 374, § 4, eff. July 1, 1997.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1412. Embezzlement or misapplication of funds.

It shall be a criminal offense for any officer, director, shareholder or employee of any bank or trust company to directly or indirectly embezzle, abstract, or misapply, or cause to be embezzled, abstracted or misapplied, any of the funds or securities or other property of or under the control of the bank or trust company with intent to deceive, injure, cheat, wrong, or defraud any bank, trust company or person.
Added by Laws 1965, c. 161, § 1412. Amended by Laws 1997, c. 111, § 111, eff. July 1, 1997.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1413. Libel and slander.

It shall be unlawful for any person to publish, utter, or circulate any false, malicious, unprivileged statement or representation for the purpose of injuring any banking institution or credit union chartered, existing and doing business within the State of Oklahoma, under and by virtue of the laws of this state, or under and by virtue of the laws of the United States of America.
Added by Laws 1965, c. 161, § 1413. Amended by Laws 2005, c. 209, § 1, eff. Nov. 1, 2005.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1414. Criminal sanctions, violations of rules and orders - Nonapplicability where criminal sanctions imposed in other sections of Code.

A. Any person responsible for an act or omission expressly declared to be unlawful or a criminal offense by this Code shall be guilty:
(1) Of a misdemeanor punishable by imprisonment for a term not exceeding one (1) year or a fine not exceeding Fifty Thousand Dollars ($50,000.00), or both.
(2) If the act or omission was intended to defraud, of a felony punishable by imprisonment not exceeding five (5) years or a fine not exceeding One Hundred Thousand Dollars ($100,000.00), or both.
B. An officer, director, employee, agent or attorney of a bank or trust company shall be responsible for an act or omission of the institution declared to be a criminal offense against this Code whenever, knowing that such act or omission is unlawful, he participates in authorizing, executing, ratifying or concealing such act, or in authorizing or ratifying such omission or, having a duty to take the required action, omits to do so.
A director shall be deemed to participate in any action of which he has knowledge taken or omitted to be taken by the board of which he is a member unless he dissents therefrom in writing and promptly notifies the Commissioner of his dissent.
C. It shall be a criminal offense against this Code to violate any lawful order of the Board or Commissioner, served upon it, or to knowingly violate any lawful rule, regulation or order of the Board or Commissioner.
The Commissioner may refer evidence concerning violations of this Code or of any rule or order thereunder to the Attorney General of the State of Oklahoma or to the district attorney for the county where a violation occurred in order that an information or indictment for such violations may be filed. The Attorney General or district attorney may designate and appoint a lawyer of the Department as special assistant, if available, for the purpose of assisting in or conducting criminal prosecutions arising because of the proceedings provided for in this section.
D. Unless otherwise provided in this Code, it shall be no defense to a criminal prosecution hereunder that the defendant did not know the facts establishing the criminal character of the act or omission charged if he could and should have known such facts in the proper performance of his duty.
E. This section shall not apply to specific offenses for which criminal sanctions have been imposed in other sections of this Code.
Added by Laws 1965, c. 161, § 1414. Amended by Laws 1985, c. 168, § 7, emerg. eff. June 18, 1985; Laws 1997, c. 133, § 125, eff. July 1, 1999; Laws 1999, 1st Ex.Sess., c. 5, § 56, eff. July 1, 1999.
NOTE: Laws 1998, 1st Ex.Sess., c. 2, § 23 amended the effective date of Laws 1997, c. 133, § 125 from July 1, 1998, to July 1, 1999.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1415. Injunction.

A. Whenever a violation of this Code by a bank or an officer, director or employee thereof is threatened or impending and will cause substantial injury to the institution or to the depositors, creditors, or stockholders thereof, the district court of the county in which the bank is located shall, upon the suit of the Commissioner, issue an injunction restraining such violation.
B. Whenever any corporation, not authorized to carry on a trust business under this Code, shall falsely act as a trust company, or shall use an artificial or corporate name implying or inferring it is a trust company, the district court of the county in which lawful service is obtained shall, upon suit of the Commissioner, issue an injunction restraining such act.
C. All orders of the Commissioner and the Board shall be enforced by the district court of the district of domicile of the person or persons to whom the order is directed.
Added by Laws 1965, c. 161, § 1415. Amended by Laws 1984, c. 133, § 9, eff. Oct. 1, 1984.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1416. Prohibitions relating to control of banks - Remedies.

A. No bank holding company shall control a bank unless the bank is one such as is defined in Section 2(c) of the federal Bank Holding Company Act of 1956, as amended.
B. No company that is not a bank holding company shall control a bank.
C. In addition to other remedies provided for by law, the Commissioner may enforce the provisions of this section by:
1. Injunction; or
2. Cease and desist order; or
3. Fine.
Added by Laws 1985, c. 168, § 8, emerg. eff. June 18, 1985. Amended by Laws 1996, c. 92, § 10, eff. June 1, 1996.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1512. Definitions

As used in this act:
1. "Board" means the Banking Board;
2. "Commissioner" means the State Banking Commissioner;
3. "Currency" or "funds" means the coin and paper money of the United States or of any other country that is designated as legal tender and that circulates and is customarily used and accepted as a medium of exchange in the country of issuance. Currency includes U.S. silver certificates, U.S. notes, and Federal Reserve notes. Currency also includes official foreign bank notes that are customarily used and accepted as a medium of exchange in a foreign country;
4. "Department" means the Oklahoma State Banking Department;
5. "Licensee" means a person granted a license by the Commissioner to engage in business as a money transmitter;
6. "Money services business" includes each agent, agency, branch, or office within the State of Oklahoma of any person doing business, whether or not on a regular basis or as an organized business concern, as a money transmitter or in one or more of the capacities otherwise identified and defined by the Board. The term "money services business" shall not include a "bank" as that term is defined in Title 31, Code of Federal Regulations, Chapter X, nor shall it include a person registered with and regulated or examined by the Securities and Exchange Commission or the Commodity Futures Trading Commission;
7. "Money transmitter" means any person who engages in the business of accepting currency or funds denominated in currency, and transmits the currency or funds or the value of the currency or funds, by any means through a financial agency or institution, a Federal Reserve Bank or other facility of one or more Federal Reserve Banks, the Board of Governors of the Federal Reserve System or both, or an electronic funds transfer network;
8. "Money transmitter equipment" means any type of terminal, machine, computer software, access to any network, or any other type of tangible or intangible apparatus or system, or any combination thereof, that may be used by a money transmitter to initiate a transmittal of currency;
9. "Person" includes an individual, corporation, partnership, limited partnership, limited liability company, trust or estate, joint stock company, association, syndicate, joint venture, or other unincorporated organization or group, Indian tribe, and all entities cognizable as legal personalities; and
10. "Supplier" means any person that utilizes, designates or otherwise authorizes another person, whether or not designated as an agent, to perform services of a money transmitter, or who provides money transmitter equipment to a person in connection therewith.
Added by Laws 2006, c. 57, § 2, emerg. eff. April 17, 2006. Amended by Laws 2013, c. 62, § 6, emerg. eff. April 18, 2013; Laws 2016, c. 127, § 3, emerg. eff. Apr. 20, 2016.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1513. Registration application - License - List of persons given money transmitter equipment - Fees - Violation and punishment

A. No person shall engage in the money services business in this state without first securing a license to do so from the Commissioner. Any person acting as agent or authorized delegate for any licensee under the Oklahoma Financial Transaction Reporting Act shall prominently display a copy of the principal's license certificate at each place of business of the agent or authorized delegate where money transmitter services are offered. It shall be the responsibility of the licensee to provide a copy of the license certificate to each agent or authorized delegate for display and to obtain the return of such copy if an agent or authorized delegate is no longer authorized to conduct business on behalf of a licensee.
B. Upon the effective date of this act, a supplier shall provide to the Commissioner, on a form prescribed by the Commissioner, a list of each person to whom money transmitter equipment has been provided. A licensee shall provide the Commissioner a list of each person acting in Oklahoma as agent or authorized delegate on behalf of the licensee. The list shall be updated each calendar quarter and shall be provided to the Commissioner within thirty (30) days after the close of the calendar quarter. The updated list shall reflect any additional persons to whom money transmitter equipment has been provided since the last reporting period. The list need only identify those persons for whom the supplier has an address in this state or who the supplier reasonably believes to be operating in this state.
C. Each application filed for issuance or renewal of a money transmitter license must be accompanied by a fee in an amount prescribed by the board. Notwithstanding any other deadlines or terms prescribed by the board, a money transmitter license certificate may be issued without a termination date; provided, however, the license certificate must be renewed no later than December 31 each calendar year.
D. Any person who violates the provisions of this section shall, upon conviction, be guilty of a misdemeanor punishable by a fine of not less than One Thousand Dollars ($1,000.00), or by imprisonment in the county jail for not more than one (1) year, or by both such fine and imprisonment. Each day that any violation of this section occurs or continues shall constitute a separate offense and shall be punishable as a separate violation.
E. Any licensee providing money transmission services to Oklahoma residents primarily through electronic means must maintain security in the amount prescribed by rule of the board but not less than Two Hundred Thousand Dollars ($200,000.00).
F. All fees collected under this section shall be deposited in the Department revolving fund pursuant to Section 211.1 of this title.
Added by Laws 2006, c. 57, § 3, emerg. eff. April 17, 2006. Amended by Laws 2008, c. 275, § 6, eff. July 1, 2008; Laws 2013, c. 62, § 7, emerg. eff. April 18, 2013; Laws 2016, c. 127, § 4, emerg. eff. Apr. 20, 2016.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1514. Information-sharing agreements - Records.

The Commissioner may cooperate, coordinate, and enter into information-sharing agreements with any other local, state, federal, or foreign governmental agency regarding any or all information provided by suppliers and by persons submitting registration applications, whether or not a license is issued. In the absence of an information-sharing agreement, all Department records resulting from the provisions of this act shall be confidential and shall not be subject to public inspection. The names of licensees and their agents and authorized delegates shall not be confidential.
Added by Laws 2006, c. 57, § 4, emerg. eff. April 17, 2006. Amended by Laws 2013, c. 62, § 8, emerg. eff. April 18, 2013.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1515. Rules - Interpretive statements and opinions.

A. The Board may promulgate rules to further implement the provisions of this act including, but not limited to, rules relating to the application of and exemption from the provisions of this act, additional and different types of persons that must register and be licensed, fees that must be paid, and investigative and examination authority over licensees by the Department or designee of the Department, which may include state law enforcement agencies.
B. The Commissioner may issue interpretive statements and opinions regarding the provisions of this act upon a motion by the Commissioner or upon the written request of others. An interpretive statement or opinion issued under this section shall not have the force of law and shall not be deemed a rule.
Added by Laws 2006, c. 57, § 5, emerg. eff. April 17, 2006.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1601. Definitions.

Definitions. As used in the International Bank Act:
1. "Board" when used with an initial capital letter means the Banking Board of this state;
2. "Foreign country" means a country or sovereign government other than the United States and includes any colony, dependency, state or possession of such country or sovereign government other than the United States;
3. "International administrative office" means an office of an international banking corporation, which office exists for the purposes described in Section 17 of this act;
4. "International bank agency" means the international banking corporation with respect to all business or activities conducted in this state or through an office located in this state;
5. "International banking corporation" means a banking corporation organized and licensed under the laws of a foreign country, a territory of the United States, Puerto Rico, Guam, American Samoa, or the Virgin Islands or, if organized and licensed under the laws of the United States of America, a banking corporation:
a.
which is not a bank or bank holding company as defined in the federal Bank Holding Company Act, as amended, Sections 1841 through 1850 of Title 12 of the United States Code, and
b.
which maintained, on July 1, 1981, as its only United States banking office, one state agency licensed by a state other than this state. The term "international banking corporation" includes, without limitation, a foreign commercial bank, foreign merchant bank or other foreign institution that is chartered by or that engages in banking activities usually in connection with the business of banking within the country or pursuant to the laws of the country where such foreign institution is organized or operating;
6. "Representative office" means a business location of a representative of an international banking corporation established for the purpose of acting in a liaison capacity with existing and potential customers of such international banking corporation and to generate new loans and other activities for such international banking corporation which is operating outside the state.
Added by Laws 1992, c. 295, § 11, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1602. Applicability of state banking laws.

Applicability of state banking laws.
A. International bank agencies shall be subject to all the provisions of the Oklahoma Banking Code, the rules of the Oklahoma Banking Board, and the Oklahoma General Corporation Act as though such international bank agencies were state banks, except where it may appear, from the context, by rule duly promulgated by the Oklahoma Banking Board, by interpretation of the Commissioner, or otherwise, that such provisions are clearly applicable only to banks or trust companies organized under the laws of this state or the United States. Without limiting the foregoing general provisions, it is the intent of the Legislature that the Oklahoma Banking Board promulgate rules to be applicable to such banks or agencies. International bank agencies shall not have the powers, rights or privileges conferred on domestic banks by the provisions of Section 501.1 of Title 6 of the Oklahoma Statutes, relating to branches and facilities; Section 415 of Title 6 of the Oklahoma Statutes, relating to outside attached or detached facilities; and Section 71 of Title 62 of the Oklahoma Statutes, relating to depositories for public funds.
B. International bank agencies, with regard to assets located within this state, shall be subject specifically to the liquidation and receivership provisions of the Oklahoma Banking Code.
C. An international bank agency shall have no greater right under, or by virtue of, this section than is granted to banks organized under the laws of this state. Legal and financial terms used herein shall be deemed to refer to equivalent terms used by the country in which the international banking corporation is organized. However, all contracts or agreements which are negotiated in this state with Oklahoma residents shall be construed under Oklahoma law.
D. Nothing contained in the International Bank Act shall be construed as granting any authority, directly or indirectly, for any bank or bank holding company, the operations of which are conducted principally outside this state, to operate a branch in this state or to acquire, directly or indirectly, any voting shares of, any interest in, or all or substantially all of the assets of any bank in this state.
Added by Laws 1992, c. 295, § 12, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1603. Applicability of Oklahoma General Corporation Act.

Applicability of the Oklahoma General Corporation Act.
Notwithstanding the definition of the term foreign corporation in Section 1130 of Title 18 of the Oklahoma Statutes, all of the provisions of the Oklahoma General Corporation Act not in conflict with the Oklahoma Banking Code which relate to the foreign corporations shall apply to all international bank agencies and representative offices doing business in this state.
Added by Laws 1992, c. 295, § 13, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1604. Requirements for carrying on banking business.

Requirements for carrying on banking business.
A. No international banking corporation may transact a banking business, or maintain in this state any office for carrying on such business, or any part thereof, unless such corporation has:
1. Been authorized by its charter to carry on such business and has complied with the laws of the country under which it is chartered;
2. Furnished to the Board such proof as to the nature and character of its business and as to its financial condition as the Board may require;
3. Filed with the Board a certified copy of that information required to be supplied to the Secretary of State by those provisions of the Oklahoma General Corporation Act which are applicable to foreign corporations;
4. Paid to the Board a nonrefundable application fee in an amount set by the Board; and
5. Received a license duly issued to it by the Commissioner.
B. The Commissioner may not issue a license to an international banking corporation unless:
1. It is chartered in a jurisdiction in which any bank having its principal place of business in this state may establish similar facilities or exercise similar powers; or
2. Under the Federal International Banking Act of 1978, the Comptroller of the Currency of the United States could issue a license to the corporation to operate a federal agency without considering whether the international banking corporation is chartered in a jurisdiction in which any bank having its principal place of business in this state may establish similar facilities or exercise similar powers.
Added by Laws 1992, c. 295, § 14, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1607. International administrative offices.

International administrative offices.
A. Any international banking corporation having capital accounts in excess of Twenty-five Million Dollars ($25,000,000.00) may establish one office in this state for the purposes of:
1. Administering its personnel and operations outside the United States;
2. Engaging in data processing and recordkeeping with respect to its international transactions; and
3. Negotiating, approving, or servicing international loans or extensions of credit.
B. An office established pursuant to the provisions of this section may not engage in any activity except those activities set forth in subsection A of this section.
C. An office established in accordance with the provisions of this section does not require a certificate of authority to do business pursuant to Sections 301 through 313 of Title 6 of the Oklahoma Statutes, nor shall it be deemed a branch pursuant to Section 501.1 of Title 6 of the Oklahoma Statutes.
D. An international banking corporation establishing an office in accordance with the provisions of this section is subject to the provisions of subsection A of Section 14 of this act and subsections A through D of Section 16 of this act, except that the nonrefundable application fee to be set by rule of the Board shall be no less than Two Thousand Five Hundred Dollars ($2,500.00) and the annual renewal fee shall be no less than Two Hundred Fifty Dollars ($250.00).
E. The Board shall conduct regular examinations of any office established in accordance with the provisions of this section. Such examinations shall be conducted primarily for the purpose of determining compliance with the provisions of this section and the Board's rules concerning any international banking corporation having an international administrative office in this state.
Added by Laws 1992, c. 295, § 17, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1609. Certification of capital accounts.

Certification of capital accounts.
Before opening an office in this state, and annually thereafter so long as a bank office is maintained in this state, an international banking corporation licensed pursuant to the International Bank Act shall certify to the Board the amount of its capital accounts, expressed in the currency of the country of its incorporation. The dollar equivalent of these amounts, as determined by the Board, shall be deemed to be the amount of its capital accounts.
Added by Laws 1992, c. 295, § 19, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1610. Lending limits.

Lending limits.
A. The Board shall by rule prescribe the limits of drafts or bills of exchange which an international bank agency may accept relative to the capital accounts of the international banking corporation. These limits shall take into account all transactions which are included and excluded in computing the lending limit for acceptances of a federal agency licensed under the federal International Banking Act of 1978, as amended.
B. The provisions of Section 802 of Title 6 of the Oklahoma Statutes, except to the extent it is inconsistent with Section 15 of this act or the provisions of this section, shall apply to the loans and investments made by any international bank agencies of the international banking corporation. As used in such sections with respect to an international banking corporation and its international bank agencies, the term "capital accounts" shall be deemed to refer to the capital and surplus of the international banking corporation, and, except when used with reference to capital accounts, the term "bank" shall be deemed to refer to the international bank agencies of the international banking corporation which are licensed in this state.
C. Any limitation in this section based on the capital accounts of an international banking corporation shall be deemed to refer, with respect to an international bank agency in this state, to the dollar equivalent of the capital accounts of the international banking corporation, as determined by the Board. If the international banking corporation has more than one international bank agency in this state, the business transacted by all such agencies shall be aggregated in determining compliance with a limitation or restriction in this section.
D. With the prior written approval of the Commissioner, the capital notes and capital debentures of an international banking corporation may be treated as capital in computing the limitations referred to in this section.
Added by Laws 1992, c. 295, § 20, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1611. Reports and records.

Reports and records.
A. Every international banking corporation doing business in this state shall, at such times and in such form as the Board shall prescribe, make written reports in the English language to the Board, under the oath of one of its officers, managers, or agents transacting business in this state, showing the amount of its assets and liabilities and containing such other matters as the Board shall prescribe. If any such international banking corporation shall fail to make any such report, as directed by the Board, or if any such report shall contain any false statement knowingly made, the same shall be grounds for revocation of the license of the international banking corporation.
B. Each international banking corporation which operates an international bank agency licensed under the International Bank Act shall cause to be kept, at its place of business in this state, correct and complete books and records of account of its business operations transacted by such agency in the manner as required by law for state banks. Such agencies shall also keep current copies of the charter and bylaws of the international banking corporation, relative to the operations of the agency, and minutes of the proceedings of its directors or committees relative to the agency business. Such records shall be kept in the same manner as required by law for state banks and shall be made available to the Board, upon request, at any time during regular business hours of the agency. Any failure to keep such records as aforesaid or any refusal to produce such records upon request by the Board shall be grounds for suspension or revocation of any license issued under the International Bank Act.
Added by Laws 1992, c. 295, § 21, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1612. Conversion from a federal agency to a state chartered agency and the reverse.

Conversion from a federal agency to a state chartered agency and the reverse.
A. An international banking corporation desiring to convert its existing federal agency or representative office into a state chartered agency or representative office shall submit to the Board an application, on a form the Board shall provide, accompanied by nonrefundable application fees as may be set by the Board. An examination and investigation may be conducted to the extent determined necessary by the Board. The cost of any such examination shall be paid by the applicant.
B. Nothing in the laws of this state shall restrict the right of a state chartered agency or representative office which has paid its fee to convert to a federal agency or representative office upon compliance with the laws of the United States. Upon completion of any such conversion, the state charter shall automatically terminate and shall be surrendered to the Board.
C. An international banking corporation desiring to convert its existing state chartered representative office to a state chartered agency or its existing state chartered agency to a state chartered representative office shall submit to the Board an application on a form the Board shall provide. An application to convert to an agency shall be accompanied by all of the information and documents that the state requires applicants for an agency to submit and by a nonrefundable application fee in an amount to be set by rule of the Board. A nonrefundable application fee in an amount to be set by rule of the Board shall accompany an application to convert to a representative office.
D. An international banking corporation desiring to convert from a federal agency or representative office into a state chartered agency or representative office, or from its existing state chartered representative office to an agency, shall be required to meet the minimum criteria of the particular type of state chartered institution into which it is converting as well as any other criteria or conditions required by rule or order of the Board.
Added by Laws 1992, c. 295, § 22, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1613. Dissolution.

Dissolution.
A. In the event an international banking corporation which is licensed to maintain an international bank agency in this state is dissolved, or its authority or existence is otherwise terminated, canceled, or suspended in the jurisdiction of its incorporation, oral notice by telephone of such event shall be given to the Commissioner, deputy commissioner or Board legal counsel, within twelve (12) hours of such event.
B. A certificate of the official who is responsible for records of banking corporations of the jurisdiction of incorporation of such international banking corporation, attesting to the occurrence of any such event, or a certified copy of an order or decree of a court of such jurisdiction directing the dissolution of such international banking corporation, the termination of its existence, or the cancellation of its authority, shall be delivered within two (2) days by the corporation or its officers and directors last appearing in the records of the Board to the Board. The filing of the certificate, order, or decree shall have the same effect as the revocation of the license of such international banking corporation as provided in Section 16 of this act.
C. Refusal or neglect of any said officer or director to comply with this section shall render him liable for an administrative violation and subject to a fine of not more than One Thousand Dollars ($1,000.00) for each day of such refusal or neglect.
Added by Laws 1992, c. 295, § 23, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1614. Representative offices - Limitations - Licenses - Fees.

Representative offices; limitations; licenses; fees.
No representative office shall conduct any banking business in this state. Each representative office shall be licensed by the Board, shall provide the Board with such information as the Board, by rule, deems necessary, and shall pay an initial nonrefundable application fee and an annual renewal fee, both of which shall be set by the Board.
Added by Laws 1992, c. 295, § 24, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1615. Rules - Exemption from economic impact statement requirements.

Rules; exemption from economic impact statement requirements.
In addition to any other rulemaking authority it has under the Oklahoma Banking Code, the Board is authorized to promulgate reasonable rules which it deems advisable for the administration of international banking corporations under the International Bank Act in the interest of protecting depositors, creditors, borrowers, or the public interest and in the interest of maintaining a sound banking system in this state. Because of the difficulty in obtaining economic data with regard to such banks, no economic impact statement shall be required in connection with said rules.
Added by Laws 1992, c. 295, § 25, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1616. Foreign travel expenses.

Foreign travel expenses.
A. Fees, assessments and reimbursements of actual expenses by the department and department representatives shall be set by rule of the Board which shall, in all cases, be no less than that for state banks.
B. If foreign travel is deemed necessary by the department to effectuate the purposes of the International Bank Act, representatives of the department shall be reimbursed for actual, reasonable, and necessary expenses incurred in such foreign travel.
Added by Laws 1992, c. 295, § 26, eff. July 1, 1992.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1701. Short title - Intent.

A. This act shall be known and may be cited as the "Multistate Trust Institutions Act".
B. It is the express intent of this act to permit banks and other depository institutions, foreign banks and trust companies to engage in the trust business on a multistate and international basis to the extent consistent with the safety and soundness of the trust institutions engaged in a trust business in this state and the protection of consumers, clients and other customers of such trust institutions.
Added by Laws 1998, c. 104, § 1, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1704. Severability.

If any provision of this act or the application of such provision is found by any court of competent jurisdiction in the United States to be invalid as to any trust institution or other person or circumstance, or to be superseded by federal law, the remaining provisions of this act shall not be affected and shall continue to apply to any trust institution or other person or circumstance.
Added by Laws 1998, c. 104, § 4, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1705. Companies authorized to act as fiduciary.

A. No company shall act as a fiduciary in this state except:
1. A state trust company;
2. A state bank;
3. A savings association organized under the laws of this state and authorized to act as a fiduciary pursuant to state law;
4. A national bank having its principal office in this state and authorized by the Comptroller of the Currency to act as a fiduciary pursuant to 12 U.S.C., Section 92a;
5. A federally chartered savings association having its principal office in this state and authorized by its federal chartering authority to act as a fiduciary;
6. An out-of-state bank with a branch in this state established or maintained pursuant to the laws of this state or a trust office licensed by the Commissioner pursuant to this act;
7. An out-of-state trust company with a trust office licensed by the Commissioner pursuant to this act; or
8. A foreign bank with a trust office licensed by the Commissioner pursuant to this act.
B. No company shall engage in an unauthorized trust activity.
Added by Laws 1998, c. 104, § 5, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1707. State trust institutions - Business locations.

A. A state trust institution may act as a fiduciary or otherwise engage in a trust business in this or any other state or foreign country, subject to complying with applicable laws of such state or foreign country, at an office established and maintained pursuant to this act, at a branch or at any location other than an office or branch.
B. A state trust institution may also conduct any activities at any office outside this state that are permissible for a trust institution chartered by the host state where the office is located, except to the extent such activities are expressly prohibited by the laws of this state or by any regulation or order of the Commissioner applicable to the state trust institution. However, the Commissioner may waive any such prohibition if the Commissioner determines, by order or regulation, that the involvement of out-of-state offices of state trust institutions in particular activities would not threaten the safety or soundness of such state trust institutions.
Added by Laws 1998, c. 104, § 7, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1708. Out-of-state trust institutions - Business locations.

An out-of-state trust institution which establishes or maintains one or more offices in this state under this act may conduct any activity at each such office which would be authorized under the laws of this state for a state trust institution to conduct at such an office.
Added by Laws 1998, c. 104, § 8, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1709. Registration of name.

A state trust company or out-of-state trust institution may register any name with the Commissioner in connection with establishing a principal office, trust office or representative trust office in this state pursuant to this act. However, the Commissioner may determine that a name proposed to be registered is potentially misleading to the public and require the registrant to select a name which is not potentially misleading.
Added by Laws 1998, c. 104, § 9, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1710. Authority to operate trust business.

A state trust company or a state bank may:
1. Perform any act as a fiduciary;
2. Engage in any trust business; and
3. Exercise any incidental power that is necessary to enable it to fully exercise, according to commonly accepted fiduciary customs and usages, a power conferred in this act.
Added by Laws 1998, c. 104, § 10, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1711. Engaging in trust business at branch locations permitted - Certain business at representative trust offices prohibited - Limitations on business at out-of-state offices.

A. A state trust institution may act as a fiduciary and engage in a trust business at each trust office as permitted by this act and at a branch.
B. A state trust institution may not act as a fiduciary but may otherwise engage in a trust business at a representative trust office as permitted by this act.
C. Notwithstanding the provisions of subsections A and B of this section, a state bank or a state trust company may not engage at an out-of-state office in any trust business not permitted for such an office by the host state where the office is located to trust institutions chartered by such state.
Added by Laws 1998, c. 104, § 11, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 6. Banks and Trust Companies › §6-1712. Principal office.

A. Each state trust company shall have and continuously maintain a principal office in this state.
B. Each executive officer at the principal office shall be an agent of the state trust company for service of process.
C. A state trust company may change its principal office to any location within this state by filing a written notice with the Commissioner setting forth the name of the state trust company, the street address of its principal office before the change, the street address to which the principal office is to be changed, and a copy of the resolution adopted by the board authorizing the change.
D. The change of principal office shall take effect on the thirty-first day after the date the Commissioner receives the notice pursuant to subsection C of this section. However, the Commissioner may establish an earlier or later date or may, prior to such day, notify the state trust company that it must establish to the satisfaction of the Commissioner that the relocation is consistent with the original determination for the establishment of a state trust company at that location, in which event the change of principal office shall take effect when approved by the Commissioner.
Added by Laws 1998, c. 104, § 12, eff. Nov. 1, 1998.