reglab/statecodes huggingface dataset:
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-22 - Forms available

Current through Vol. 41, No. 20, July 1, 2024
Oklahoma associations may obtain from the Department the
					 following forms:
(1) Semi-Annual
				  Report of Condition;
(2)
				  Application for Authority to organize a Savings and Loan Association;
(3) Application to Convert from a mutual to a
				  stock association.
Transferred from
					 625:10-3-3 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-23 - Filing of copies of applications, petitions, and requests

Current through Vol. 41, No. 20, July 1, 2024
In addition to the original of every petition, application
					 or request filed with the Commissioner and requiring Board decision, five
					 copies thereof with all exhibits and schedules shall also be filed for the use
					 of the members of the Board.
Transferred from
					 625:10-3-4 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-24 - Approval of amendments to articles of incorporation and by-laws

Current through Vol. 41, No. 20, July 1, 2024
Prior to action upon or approval of amendments to
					 association By-laws or Articles of Incorporation, the Commissioner may require
					 from the association's counsel an opinion that the proposed amendment conforms
					 to all applicable Federal and State laws and regulations, or where the proposed
					 change is not specifically covered by such Federal and State laws and
					 regulations, an opinion wherein the authority for such proposed change may be
					 implied.
Transferred from
					 625:10-3-5 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-25 - Change in nomenclature

Current through Vol. 41, No. 20, July 1, 2024
An Oklahoma association may amend its Articles of
					 Incorporation to change its name to utilize the nomenclature "savings and loan
					 association", or "savings bank", or "savings association" by amending its
					 Articles of Incorporation.
Transferred from
					 625:10-3-6 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-26 - Increase in authorized stock/issuance of preferred stock

Current through Vol. 41, No. 20, July 1, 2024
Any savings and loan association with the written approval
					 of the Commissioner and by vote of stockholders owning two-thirds (2/3) of the
					 stock of the savings and loan entitled to vote, may by proper amendment to its
					 Articles of Incorporation, authorize the issuance of preferred stock or
					 authorize an increase in the common or preferred stock of the savings and loan
					 in the category of authorized but unissued stock. Such authorized but unissued
					 stock may be issued from time to time to employees of the savings and loan,
					 pursuant to a stock option or stock purchase plan adopted in accordance with
					 the Oklahoma Statutes. Authorized but unissued stock may also be issued from
					 time to time for such other purposes and considerations as may be approved by
					 the Board of Directors of the savings and loan and by the written approval of
					 the Commissioner.
Transferred from
					 625:10-3-7 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-27 - Criminal referral

Current through Vol. 41, No. 20, July 1, 2024
In addition to any reports or action required by any
					 federal agency, an immediate written report shall be made by an appropriate
					 officer of the association to the State Bank Commissioner, of any of the
					 following events:
(1) Any known or
				  suspected theft, embezzlement, check-kiting operation, misappropriation, or
				  other defalcation involving association personnel or association funds in any
				  amount. Where there is reason to suspect any person or persons in connection
				  with the event, the identity of such persons and the reason for suspicion shall
				  be included in the report.
(2) Any
				  state of facts growing out of the affairs of the association known or suspected
				  to involve criminal violation of any other section of the United States Code or
				  state law.
(3) Any mysterious
				  disappearance or unexplained shortage of association funds or other assets of
				  $1,000 or more.
Transferred from
					 625:10-3-8 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-28 - Bond waiver guidelines

Current through Vol. 41, No. 20, July 1, 2024
An association seeking a waiver of the bond requirement
					 pursuant to Section 381.34 of the Code must furnish to the Commissioner a
					 letter setting out in detail the reason for the request along with adequate
					 documentation for the Commissioner to make a determination that bonding is
					 either unavailable, economically infeasible, or an imprudent business
					 decision.
Transferred from
					 625:10-3-9 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-29 - Deposit and safekeeping fees/dormant property

Current through Vol. 41, No. 20, July 1, 2024
Each holding of property by an association for a customer
					 in deposit or safe keeping creates a debtor-creditor relationship as provided
					 in the agreement between the association and the customer. Such agreement is a
					 contractual relationship which may be established by the signature card signed
					 only by the customer.
(1) The
				  signature card of a customer of an association is a contract between the
				  association and the customer.
(2)
				  Reasonable fees as determined by policy of the association's board may be
				  charged by an association for any account and safe keeping services even if the
				  specific terms of the contract between the association and the customer are
				  silent with regard to service charges.
(3) Interest on a deposit may or may not be
				  paid on a dormant account as determined by the policy of the association's
				  board even if the specific terms of the contract between the association and
				  the customer are silent with regard to interest.
(4) No state government agency shall examine
				  any accounts or safe keeping records of any association without fifteen (15)
				  days prior written notification of the scope of such examination to the State
				  Bank Commissioner. No charge may be assessed the association for any
				  examination by any such governmental agency and the association is entitled to
				  be paid costs of producing and copying records pursuant to the Oklahoma
				  Financial Privacy Act.
Transferred from
					 625:10-3-10 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-30 - Semiannual report of condition

Current through Vol. 41, No. 20, July 1, 2024
On or before January 31, and July 31, of each year, each
					 association shall complete and return to the Commissioner a full report of its
					 financial condition. Such report must be submitted on forms supplied by the
					 Commissioner; provided, however, that an insured association may at its option
					 file with the Commissioner a completed, verified copy of its report made to the
					 Federal Home Loan Bank Board, in lieu of the Oklahoma form. The failure of an
					 association to file any report or statement required by the Code or the rules
					 of the Board within the stated time shall be cause for the making of a special
					 examination or special audit by an outside accounting firm approved by the
					 Commissioner at the expense of the association.
Transferred from
					 625:10-3-11 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 3 - DEPARTMENTAL REQUIREMENTS FOR REPORTS, REQUESTS AND APPLICATIONS › Section 85:25-3-31 - Fees

Current through Vol. 41, No. 20, July 1, 2024
(a)
Deposit
				  fee for application for authority to organize a new charter.
In
				  accordance with the provisions of Section 381.16 of the Savings and Loan Code
				  with respect to applications for authority to organize a state savings
				  association, a deposit in the amount of $2,000.00 shall be submitted to the
				  Commissioner with the Application for Authority to Organize. The amount shall
				  be used as a deposit to defray expenses of an investigation and report of the
				  feasibility of the proposed association and other expenses incidental to the
				  consideration of the application. The total fee for the investigation and
				  report of the feasibility shall be charged at the rate prescribed in section
				  381.15 of the Savings and Loan Code for special examinations. At the conclusion
				  of the investigation the applicant shall pay any amount not satisfied by the
				  deposit.
(b)
Application fee
				  to change location.
With respect to applications to change location of
				  an association's main office, branch, or detached facility, an application fee
				  in the amount of $2,000.00 shall be submitted to the Commissioner with each
				  Application to move.
(c)
Application fee for detached facility.
An Application for a
				  Certificate to Maintain and Operate a Detached Facility shall be accompanied by
				  a fee in the amount of $2,000.00.
(d)
Application fee for operating
				  subsidiaries.
An Application for Approval of an Operating Subsidiary
				  must be accompanied by a check made payable to the Commissioner in the amount
				  of $1,000.00 and a check, in blank, made payable to the Secretary of State for
				  fees due in connection with filing the Certificate of Incorporation.
(e)
Application fee for branch.
An application fee of $2,000.00 shall accompany each Application for
				  Certificate to Maintain and Operate a Branch.
(f)
Other types of applications and
				  fees.
The following applications shall be accompanied by a check made
				  payable to the Commissioner in an amount as prescribed below:
(1) Application to Change Name -
				  $250.00
(2) Application to Abandon
				  Trust Powers - $1,500.00
(3)
				  Application to Change Number or Par Value of Shares - $250.00
(4) Application to Exercise Trust Powers -
				  $1,500.00
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-40 - Adjustable rate mortgage loans

Current through Vol. 41, No. 20, July 1, 2024
Savings and loan associations supervised by the Oklahoma
					 Savings and Loan Board are hereby authorized to make, purchase, participate or
					 otherwise deal in adjustable rate mortgage loans.
Transferred from
					 625:10-5-2 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-41 - Graduated payment adjustable rate mortgage loans and reverse annuity mortgage loans

Current through Vol. 41, No. 20, July 1, 2024
State-chartered savings and loan associations are
					 authorized to make, purchase, participate and otherwise deal in graduated
					 payment adjustable mortgage rate loans and reverse annuity mortagage loans and
					 reverse annuity mortgage loans.
Transferred from
					 625:10-5-3 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-42 - Investment in a line of credit to homebuilders

Current through Vol. 41, No. 20, July 1, 2024
Subject to federal law, an Oklahoma state-chartered savings
					 and loan association is authorized to invest an amount in a line of credit to
					 home builders, not exceeding the greater of the sum of its surplus, undivided
					 profits, and reserves or 5 percentum of its assets, in loans or in interests
					 therein, the principal purpose of which is to provide financing with respect to
					 what is or is expected to become primarily residential real estate within one
					 hundred miles of their home office or within the State in which such office is
					 located, where:
(1) the association
				  relies substantially for repayment on the borrower's general credit standing
				  and forecast of income, with or without other security, or
(2) the association relies on other security
				  as collateral for loans, including but not limited to a guaranty or similar
				  obligation of a third party, and in either case described in (1) or (2) of this
				  subsection, regardless of whether or not the association takes a security
				  interest in real estate (whether or not constituting a first lien) as an
				  additional protection.
Transferred from
					 625:10-5-4 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-43 - Participation

Current through Vol. 41, No. 20, July 1, 2024
Insured associations are hereby authorized to buy, sell and
					 hold participating interests in loans subject to the following
					 restrictions:
(1) Both the selling
				  association and purchasing association must maintain satisfactory control over
				  risk from loan participations. Each association must adopt written lending
				  policies and procedures to govern participations and shall keep written
				  documentation of recourse arrangements which outline the rights and obligations
				  of each party.
(2) The selling
				  association shall disclose complete and current credit information on the
				  obligor during the term of the loan.
(3) The purchasing association shall perform
				  an analysis of the credit quality and documentation for obligations to be
				  purchased, shall analyze the value and lien status of the collateral, and shall
				  maintain current and complete credit information on the obligor during the term
				  of the loan.
(4) Failure to meet
				  the requirements of this Section may constitute an unsafe and unsound
				  practice.
Transferred from
					 625:10-5-5 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-44 - Lending on stock prohibited

Current through Vol. 41, No. 20, July 1, 2024
It shall be unlawful for any savings and loan to loan its
					 funds on its stock as collateral security.
Transferred from
					 625:10-5-6 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-45 - Loans on property other than homes

Current through Vol. 41, No. 20, July 1, 2024
Every association shall so control and limit its lending
					 policies that its percentage of non-residential classes of loans to total loans
					 and to total assets shall at all times be within the limits required by the
					 Federal Revenue Act definition of a building and loan
					 association.
Transferred from
					 625:10-5-7 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-46 - Loans to officers, directors and affiliated persons

Current through Vol. 41, No. 20, July 1, 2024
(a) No insured institution or subsidiary
				  thereof may, either directly or indirectly, make a loan to any affiliated
				  person of such institution or purchase such a loan, except for loans in the
				  ordinary course of business of such an institution or subsidiary which do not
				  involve more than the normal risk of collectibility or present other
				  unfavorable features, and which do not exceed the loan amount which would be
				  available to members of the general public of similar credit status applying
				  for loans, of the following types:
(1) Loans
				  secured by the principal residence of an affiliated person;
(2) Loans secured by savings accounts
				  maintained by the affiliated person at the institution; and
(3) Loans for constructing, adding to,
				  improving, altering, repairing, equipping, or furnishing the principal
				  residence of the affiliated person, loans in the form of overdraft protection
				  for NOW accounts, loans for payment of education expenses, consumer loans, and
				  extensions of consumer credit in connection with credit cards.
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-47 - Mobile home financing

Current through Vol. 41, No. 20, July 1, 2024
The total investment, exclusive of unearned discount and
					 prepaid insurance of an association in mobile home loans shall not exceed 10%
					 of its assets exclusive of unearned interest account. An investment in mobile
					 home loans to a dealer shall not exceed 100% of the invoice price of each unit
					 and its equipment, excluding freight over $200.00, in the case of a new mobile
					 home, and shall not exceed 90% of the wholesale value of each used unit, as
					 established in the dealer's market. An investment in a mobile home loan other
					 than to a dealer shall not exceed 90% of the reasonable retail value of the
					 unit and equipment; and such investment shall be made only if the mobile home
					 is to be maintained as a residence of the purchaser or a relative of the
					 purchaser. In the case of all mobile home financing, the association shall in
					 timely manner take all steps necessary to perfect its security interest under
					 applicable law; however, in no instance is this Section to be construed to be
					 more restrictive than provided in 12 C.F.R. $545.45.
Transferred from
					 625:10-5-9 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-48 - Loss reserve requirements

Current through Vol. 41, No. 20, July 1, 2024
All associations shall maintain a loss reserve account and
					 a net worth position at not less than amounts required by the Office of Thrift
					 Supervision.
Transferred from
					 625:10-5-10 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-49 - Variable and extra rate savings accounts

Current through Vol. 41, No. 20, July 1, 2024
Equality of earnings payable with respect to classes of
					 savings accounts of associations is not required by the Code, and any
					 association, by adoption of appropriate by-laws and resolutions of its board of
					 directors, may classify its savings accounts according to the character, amount
					 or duration thereof, and to issue special classes of savings accounts, having
					 required minimum amounts and minimum duration periods including ninety (90) day
					 notice accounts, with respect to which the association may pay higher rates of
					 interest than its regular rate and with respect to which interest may or may
					 not be payable on dates other than the association's regular distribution
					 dates. Insured associations must meet the requirements of the Office of Thrift
					 Supervision with respect to extra rate or variable rate plans, and other
					 associations adopting any such plans will be required by the Board to meet
					 requirements equivalent to those applicable to insured associations. An
					 association which is not a deposit association may not issue a fixed term
					 savings account bearing a fixed contract rate.
Transferred from
					 625:10-5-11 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-50 - Transfer of shares

Current through Vol. 41, No. 20, July 1, 2024
Any owner of any of the shares of the capital stock of an
					 association may make disposition of such shares by written assignment endorsed
					 upon the certificates of stock and by delivery of same, but no such assignment
					 shall be effectual to transfer title to such shares of stock until same are
					 transferred upon the stock books of the corporation.
Transferred from
					 625:10-5-12 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-51 - Safe deposit boxes

Current through Vol. 41, No. 20, July 1, 2024
Each association which provides safe deposit box services
					 for its customers shall:
(1) Maintain
				  a record as to the lessee(s) of each box rented.
(2) Maintain a record as to the person or
				  persons permitted to enter the box.
(3) Maintain a record with minimum data
				  consisting of names of entries into the box and dates of entry.
(4) Establish other precautionary procedures
				  as may be deemed advisable by the association's board of directors to insure
				  adequate safety to the lessees with a minimum of liability on the
				  association.
Transferred from
					 625:10-5-13 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 5 - SUBSTANTIVE GUIDELINES AND RESTRICTIONS › Section 85:25-3-52 - Letter of credit

Current through Vol. 41, No. 20, July 1, 2024
In order that the books and records of an association
					 reflect its contingent liabilities, the association shall properly maintain
					 records on all letters of credit issued and outstanding showing the following
					 information:
(1) Controlled
				  registration numbering system;
(2)
				  Name of the account party for whom the letter of credit is
				  established;
(3) the name of the
				  beneficiary;
(4) the
				  amount;
(5) the expiration
				  date;
(6) the terms under which
				  payment is authorized;
(7) the
				  notes and/or collateral posted by the account party to back the letter of
				  credit.
Transferred from
					 625:10-5-14 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 7 - MERGERS AND CONVERSIONS › Section 85:25-3-60 - Mergers

Current through Vol. 41, No. 20, July 1, 2024
(a) Applications for
				  merger between existing associations shall be conducted as an individual
				  proceeding as defined in the Administrative Procedures Act.
(b) Consideration of a proposed merger shall
				  not be given until the Board shall have received an evaluation of the legality
				  of the proposed merger with respect to applicable Federal and State regulations
				  concerning restraint of trade from the associations' counsel. The Board shall
				  require sufficient detailed data as will enable it to evaluate the competitive
				  and economic impact of the proposed merger.
(c) Information shall be submitted in support
				  of the proposed merger which details and evaluates market concentrations, the
				  resultant assets of the merged institution, number and distribution of
				  competitors, actual or potential competition significantly curtailed by the
				  merger, market concentration, overlap of markets, adequacy of the number of
				  institutions meeting or failing to meet population, savings and mortgage
				  requirements, economy of operation and management, service to the public, the
				  convenience and needs of the communities to be served in terms of savings
				  facilities, types of loans available, and the impact, if any, on the operating
				  efficiency of the resulting institution.
(d) Applications for mergers shall be in a
				  form and shall include, but not necessarily be limited to, compliance with
				  those regulations affecting mergers among federally chartered
				  associations.
Transferred from
					 625:10-7-1 (see Editor's Note at beginning of this
					 Chapter)
Oklahoma Administrative Code › Title 85 - State Banking Department › Chapter 25 - Savings and Loan Associations › Subchapter 3 - Supervision, Regulation and Administration › Part 7 - MERGERS AND CONVERSIONS › Section 85:25-3-61 - Conversion from mutual to stock savings & loan association

Current through Vol. 41, No. 20, July 1, 2024
(a) In order to
				  convert from a mutual to a stock association, the association must first file
				  Notice of Intent to Convert with the Commissioner which shall contain the
				  following:
(1) Resolution to convert adopted
				  by two-thirds (2/3) of the board of directors of the applicant and the proposed
				  plan of conversion;
(2) Proposed
				  Articles of Incorporation and by-laws;
(3) Opinion Letter from Counsel representing
				  the filing association that:
(A) the proposed
				  plan of conversion, Resolution, Articles and by-laws are in proper legal form
				  and comply with the Oklahoma Statutes applicable to conversion; and
(B) Opinion Letter from Counsel or Tax
				  Counsel showing the conversion will not be a taxable event under the provisions
				  of the Internal Revenue Code;
(4) Such financial information relative to
				  the association and the directors and officers as required by the
				  Commissioner.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 1 - General Provisions › Section 86:10-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The rules in this Chapter ("Rules") implement the Oklahoma
				  Licensed Professional Counselor Act, (59 O.S. 1991, Sections 1901 et
				  seq.)
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 1 - General Provisions › Section 86:10-1-3 - Applicability

Current through Vol. 41, No. 20, July 1, 2024
Every duty, obligation or requirement described in this
				  Chapter and imposed upon a LPC shall be applicable to every Candidate, unless
				  specifically provided otherwise.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 3 - Rules of Professional Conduct › Section 86:10-3-1 - Responsibility

Current through Vol. 41, No. 20, July 1, 2024
It shall be the responsibility of LPCs, in their commitment
				  to the understanding of human behavior, to value objectivity and integrity, and
				  in providing services, to strive to maintain the highest standards of their
				  profession. LPCs shall accept responsibility for the consequences of their work
				  and make every effort to ensure that their services are used appropriately.
				  LPCs shall be alert to personal, social, organizational, financial, and
				  political situations or pressures that might lead to the misuse of their
				  influence. LPCs shall not participate in, condone, or be associated with
				  dishonesty, fraud, deceit or misrepresentation. LPCs shall not exploit their
				  relationships with clients for personal advantage, profit, satisfaction, or
				  interest.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 3 - Rules of Professional Conduct › Section 86:10-3-3 - Client welfare

Current through Vol. 41, No. 20, July 1, 2024
(a)
Discrimination.
LPCs shall not, in the rendering of their
				professional services, participate in, condone, or promote discrimination based
				on age, culture, disability, ethnicity, race, religion/spirituality, gender,
				gender identity, sexual orientation, marital status/partnership, language
				preference, socioeconomic status, or any basis proscribed by law. LPCs do not
				discriminate against clients, students, employees, supervisees, or research
				participants in a manner that has a negative impact on these persons.
(b)
Records.
(1)
Requirement of records.
LPCs
				shall maintain verifiable, accurate and truthful records necessary for
				rendering professional services to their clients for at least five (5) years
				beyond termination of services. LPCs employed at an institution or facility
				that has a published records retention policy that is equal to the retention
				required by this subsection will be deemed to be in compliance with this
				subsection.
(2)
Confidentiality.
LPCs shall maintain the confidentiality of any
				information received from any person or source about a client, unless
				authorized in writing by the client or otherwise authorized or required by law
				or court order.
(3)
Confidentiality of records.
LPCs shall be responsible for
				complying with the applicable state and federal regulations in regard to the
				security, safety and confidentiality of any counseling record they create,
				maintain, transfer, or destroy whether the record is written, taped,
				computerized, or stored in any other medium.
(4)
Client access.
LPCs shall
				provide the client with a copy of the client's record in accordance with state
				and federal laws. In situations involving multiple clients, access to records
				is limited to those parts of records that do not include confidential
				information related to another client.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 3 - Rules of Professional Conduct › Section 86:10-3-3.1 - Fees and bartering

Current through Vol. 41, No. 20, July 1, 2024
(a)
Advance
				understanding.
LPCs shall clearly explain to clients, prior to entering
				the counseling relationship, all financial arrangements related to professional
				services including the consequences for non-payment of fees.
(b)
Bartering.
LPCs may
				participate in bartering for tangible goods only if the relationship is not
				exploitive, if the client requests it, if a clear written contract is
				established and if such arrangements are an accepted practice among
				professionals in the community.
(c)
Tangible goods.
LPCs shall not barter for services rendered by the
				client. Only tangible goods, at fair market value, may be accepted by the
				counselor in lieu of money for counseling services.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 3 - Rules of Professional Conduct › Section 86:10-3-4 - Professional standards

Current through Vol. 41, No. 20, July 1, 2024
(a)
Violations
				of other laws.
It shall be unprofessional conduct for an LPC to plead
				guilty to or no contest to or be convicted of a state or federal felony crime
				if the violation substantially relates to the practice of counseling and poses
				a reasonable threat to public safety.
(b)
Drug and alcohol use.
LPCs
				shall not render professional services while under the influence of alcohol or
				other mind or mood altering drugs.
(c)
Sexual conduct.
(1)
Current and previous
				clients.
Sexual conduct with current and previous clients is
				prohibited.
(2)
Supervisees.
LPCs shall not engage in sexual conduct with
				supervisees and shall not supervise persons with whom they have had a sexual
				relationship within the previous five (5) years. LPCs shall not engage in
				sexual contact with supervisees they have supervised within the previous five
				(5) years.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 3 - Rules of Professional Conduct › Section 86:10-3-4.1 - Clinical responsibility to supervisees

Current through Vol. 41, No. 20, July 1, 2024
(a) LPCs shall not exploit the trust and
				dependency of supervisees.
(b) LPCs
				are cognizant of their potentially influential position with respect to
				supervisees, and shall not exploit the trust and dependency of such persons.
				LPCs, therefore, shall avoid dual relationships that impair their professional
				judgment or increase the risk of exploitation. Examples of such dual
				relationships include, but are not limited to, provision of counseling to
				supervisees, and business or close personal relationships with supervisees.
				Sexual intimacy with current supervisees is prohibited.
(c) LPCs shall not permit supervisees to
				perform or to hold themselves out as competent to perform professional services
				beyond their training, level of experience, and competence.
(d) LPCs shall not disclose supervisee
				confidences to anyone, except:
(1) as
				mandated by law;
(2) in case of
				clear and imminent danger to a person or persons;
(3) where the professional counselor is a
				defendant in a civil, criminal, or disciplinary action arising from the
				supervision (in which case client confidences may be disclosed only in the
				course of that action);
(4) if
				there is a waiver previously obtained in writing, and then such information may
				be revealed only in accordance with the terms of the waiver.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 3 - Rules of Professional Conduct › Section 86:10-3-5 - Relations with the public and other professions

Current through Vol. 41, No. 20, July 1, 2024
(a)
Misrepresentation.
LPCs
				shall not misrepresent nor allow the misrepresentation by others of the
				efficacy of the LPC's professional services.
(b)
Credentials claimed.
LPCs
				shall claim or imply only the professional credentials possessed and shall be
				responsible for correcting any known misrepresentations of their credentials by
				others. Professional credentials include graduate degrees in counseling or
				closely related mental health fields, accreditation of graduate programs,
				national voluntary certifications, government-issued certifications or
				licenses, or any other credential that might indicate to the public the LPCs
				additional knowledge or expertise in counseling.
(c)
The use of doctoral degrees and the
				title "Doctor".
ALPC may use the doctoral degree and the title "Doctor"
				in advertising, practice and status as a counselor, if the doctoral degree is
				in counseling or a closely related mental health field, and if the degree was
				granted by a regionally accredited college or university recognized by the
				United States Department of Education.
(1)
Non-counseling doctorates.
ALPC who holds a doctoral degree in a
				non-counseling related field shall not use the doctoral degree or the term
				"Dr." in advertising, practice or status as a counselor.
(2)
Non-regionally accredited
				doctorates.
ALPC who holds a doctoral degree from a college or
				university not regionally accredited and recognized by the United States
				Department of Education shall not use the doctoral degree or the title "doctor"
				in advertising, practice or status as a counselor, unless the following
				conditions are met:
(A) the degree was
				conferred or matriculation was begun before May 5, 1995; and
(B) the conferring institution was certified
				or accredited by the state wherein the institution is located.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 3 - Rules of Professional Conduct › Section 86:10-3-6 - Failure to comply

Current through Vol. 41, No. 20, July 1, 2024
ALPC who does not comply with Subchapter 3 - Rules of
				  Professional Conduct - shall be subject to disciplinary action under Subchapter
				  29.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 5 - Fitness of Applicants › Section 86:10-5-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The purpose of this subchapter is to establish the fitness of
				  an applicant as one of the criterion for licensure as an LPC and to set forth
				  the criteria by which the Board shall determine the fitness of
				  applicants.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 5 - Fitness of Applicants › Section 86:10-5-2 - Fitness for licensure

Current through Vol. 41, No. 20, July 1, 2024
The substantiation of any of the following items related to
				  the applicant may be, as the Board determines, the basis for the denial of or
				  delay of licensure of the applicant.
(1) Lack of necessary skills and abilities to
				provide adequate services.
(2)
				Misrepresentation on the application or other materials submitted to the
				Board.
(3) A violation of the LPC
				Rules of Professional Conduct.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 5 - Fitness of Applicants › Section 86:10-5-3 - Materials considered to determine fitness

Current through Vol. 41, No. 20, July 1, 2024
(a) Materials considered to determine fitness
				of skills and abilities include:
(1)
				Evaluations from supervisors or instructors;
(2) Statements from persons submitting
				references for the applicant;
(3)
				Evaluations from employers and/or professional associations; and
(4) A field examination submitted through
				questionnaires answered by persons competent to evaluate an applicant's
				professional competence which may include the submission of written case
				studies and taped interviews with an applicant's instructors, supervisors and
				others or submission of such documentary evidence relating to an applicant's
				experience and competence as required by the Board and
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-1 - General

Current through Vol. 41, No. 20, July 1, 2024
(a) The purpose of this subchapter is to
				ensure that all applicants meet those requirements specified in the Act.
(b) Unless otherwise indicated, an
				applicant shall submit all required information and documentation of
				credentials on official Board forms.
(c) The Board will not consider an
				application as officially submitted until receipt of the Application Form,
				application fee, official transcript(s), Internship/Practicum Documentation
				Form, and completed criminal background check. The application fee must
				accompany the Application Form.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-2 - Application materials and forms

Current through Vol. 41, No. 20, July 1, 2024
(a) Each application shall include the following documents:
(1) Application form,
(2) Official transcript(s),
(3) Internship/Practicum Documentation Form,
(4) Completed criminal background check, and
(5) Fees.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-2.1 - Submission of documents

Current through Vol. 41, No. 20, July 1, 2024
The applicant shall monitor the progress of the application.
				  The Board shall not automatically contact applicants regarding the receipt or
				  absence of documents.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-4 - Application for permanently expired license

Current through Vol. 41, No. 20, July 1, 2024
(a) Application after license expires for
				non-renewal shall include the following documents:
(1) Application form,
(2) Official transcript(s),
(3) Supervision Agreement,
(4) Application Fee, and
(5) Completed criminal background check.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-5 - Application for revoked license

Current through Vol. 41, No. 20, July 1, 2024
(a) No
				Application for a revoked license will be considered for a period of 5 years
				following the revocation. Application after license is revoked for
				administrative action shall include the following documents:
(1) Application form,
(2) Official transcript(s),
(3) Application Fee, and
(4) Completed criminal background
				check.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-6 - Application for voided application for failure to provide a passing score on examinations

Current through Vol. 41, No. 20, July 1, 2024
(a) Application
				after application is voided for failure to provide a passing score on
				examinations shall include the following documents:
(1) Application form,
(2) Official transcript(s),
(3) Application Fee, and
(4) Completed criminal background
				check.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-7 - Application for voided application for failure to complete supervised experience

Current through Vol. 41, No. 20, July 1, 2024
(a) Application
				after application is voided for failure to complete the supervised experience
				requirement within sixty (60) months as described in OAC Rule
				86:10-11-5(i)
				shall include the following documents:
(1)
				Application form,
(2) Official
				transcripts,
(3) Application Fee,
				and
(4) Completed criminal
				background check.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-7.1 - Application procedures for voided application for inactivity

Current through Vol. 41, No. 20, July 1, 2024
(a) Application after application is voided
				for remaining inactive for 24 months, in accordance with 86:10-7-2.2, shall
				include the following documents:
(1)
				Application form,
(2) Official
				transcript(s),
(3) Supervision
				Agreement,
(4) Application Fee,
				and
(5) Completed criminal
				background check.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-8 - Application for denied application

Current through Vol. 41, No. 20, July 1, 2024
(a)
				Application after application has been denied, as prescribed in Section 1912 of
				the LPC Act, shall include the following documents:
(1) Application form,
(2) Official transcripts,
(3) Application Fee, and
(4) Completed criminal background check.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-8.1 - Application for revoked approved supervisor status

Current through Vol. 41, No. 20, July 1, 2024
No Application for a revoked approved supervisor status, as
				  a result of administrative action, shall be considered for a period of five (5)
				  years following the revocation and said application shall meet the requirements
				  described in subsection
				  86:10-11-4 of this
				  Chapter.
Oklahoma Administrative Code › Title 86 - State Board of Behavioral Health Licensure › Chapter 10 - Licensed Professional Counselors › Subchapter 7 - Application Procedures › Section 86:10-7-9 - Denial of licensure application

Current through Vol. 41, No. 20, July 1, 2024
Following the denial of a licensure application by the Board
				  to an applicant who has a felony conviction, as prescribed in Section 1912 (B)
				  of the Act, the applicant may request an administrative hearing to contest the
				  denial of his/her application within 15 days of receiving notification from the
				  Board. If a hearing is not requested within 15 days, the denial will be
				  final.