Title 6 — Title 6 — Banks and Trust Companies

A. Final orders of the Board or the State Banking Commissioner may be appealed to the Supreme Court of Oklahoma by any party directly affected and showing aggrievement by the order. A mere increase in competition resulting from the order shall not constitute aggrievement. B. An a…

– Electronic storage. A. The following records in the Oklahoma State Banking Department are designated as public records: 1. All applications for state bank charters and supporting information with the exception of personal financial records of individual applicants; 2. All recor…

Definitions. A. A supervisory agency shall make available to a requesting agency any data obtained or generated by, and in the possession of, the supervisory agency and that the requesting agency deems necessary for review in connection with the supervision of any person over whi…

A. 1. The State Banking Commissioner shall, at least every eighteen (18) months or as often as the Commissioner deems advisable, examine every bank and trust company, and for the purpose of making such examinations and special examinations, shall have full access to all books, pa…

company by Commissioner. Any officer, director or employee of a bank or trust company found by the Commissioner to be dishonest, reckless, unfit to participate in the conduct of the affairs of the institution, or to have engaged or participated in any unsafe or unsound practice i…

Sections 2101 through 2121 of this title and Sections 13 and 14 of this act shall be known and may be cited as the "Sale of Checks Act". Added by Laws 1961, p. 426, § 1. Amended by Laws 1988, c. 216, § 1, eff. Nov. 1, 1988.

Unless the context otherwise requires: 1. "Commissioner" means the State Bank Commissioner; 2. "Check" means any check, draft, money order, stored value instrument or card, or other written instrument for the transmission or payment of money or credit, except that it does not mea…

(a) No person shall engage in the business of selling or issuing checks as a service or for a fee or other consideration without first securing a license to do so from the Commissioner, except that no license under this act shall be required of any agent, subagent or representati…

A. Nothing in the Sale of Checks Act shall apply to the receipt of money by any incorporated telegraph company at any agency or office of the company for immediate transmission by telegraph, or to the receipt of money for the purpose of transmitting or transferring it to foreign …

(a) Application for a license shall be made to the Commissioner on forms prepared by him and shall be under oath. (b) The application for a license shall: 1. State the name of the applicant and the street address of his principal office, as well as the mailing address if such mai…

(a) Upon the filing of an application, the Commissioner shall investigate the applicant and if he finds that the applicant is of good moral character and financially responsible and can meet the requirements of this act, he shall give notice in writing of his approval of said app…

certificate - Exception. A. Before any license is issued or renewed, the applicant or licensee shall pay an annual license fee in the amount of Two Hundred Dollars ($200.00), plus Ten Dollars ($10.00) for each location within this state at which checks of the licensee are issued …

Each approved applicant shall furnish a corporate surety bond in the principal sum of One Hundred Thousand Dollars ($100,000.00) for one (1) to fifteen (15) locations within this state at which checks of the licensee are issued or sold, Two Hundred Fifty Thousand Dollars ($250,00…

(a) If the Commissioner shall find at any time that any bond required under this act is insecure or exhausted, an additional bond to be approved by the Commissioner shall be filed by the licensee within ten (10) days after written demand therefor by the Commissioner. (b) In lieu …

A. 1. The Banking Board shall charge and collect from each bank and trust company under its supervision an annual fee of One Thousand Dollars ($1,000.00) which shall be deposited in the Oklahoma State Banking Department revolving fund pursuant to Section 211.1 of this title. 2. T…

There is hereby created in the State Treasury a revolving fund for the Oklahoma State Banking Department. The revolving fund shall consist of all fees and assessments paid to or collected by the Department, including all monies received by the Commissioner under Sections 104, 204…

6 O.S. § 211.2 Repealed by Laws 2005, c. 48, § 24, eff. Nov. 1, 2005

Each licensee under the Sale of Checks Act shall at all times maintain a minimum net worth of at least Two Hundred Seventy-five Thousand Dollars ($275,000.00) in order to issue or sell checks at one (1) to three hundred (300) locations, Five Hundred Thousand Dollars ($500,000.00)…

Unless a licensee shall have on file in the office of the Commissioner a bond in the maximum amount required under Section 2108 of this title, or shall have deposited securities equal to such amount as provided in subsection (b) of Section 2109 of this title, such licensee shall …

statements. Each licensee shall keep such books, accounts and records as will enable the Commissioner to determine the proper amount of the bond and license fee to be required of such licensee. Each licensee who does not maintain in force a bond in the maximum amount required by …

A. The State Banking Commissioner may examine the books and records of each licensee as often as the Commissioner deems advisable for the purpose of determining the amount of the bond to be filed and the amount of the license fee to be paid by such licensee and to determine wheth…

When the Commissioner shall have reasonable cause to believe that the provisions of this act are not being complied with by any licensee the Commissioner shall investigate the business, including the books and records of any such licensee, and may require the licensee to furnish …

Each licensee may conduct his business at such locations within this state and through or by means of such employees, agents, subagents or representatives as he may from time to time designate and appoint, so long as the Commissioner has been notified timely of each location, app…

(a) The Commissioner may, upon ten (10) days' notice to the licensee, stating the contemplated action and in general the grounds therefor, hold a hearing at which the licensee shall have a reasonable opportunity to be heard, for the purpose of determining whether a license should…

(a) For the purposes of this act, the Commissioner or the hearing officer as hereinafter provided has power to require by subpoena the attendance and testimony of witnesses, and the production of all documentary evidence relating to any matter under hearing pursuant to this act, …

All final administrative decisions of the Commissioner hereunder shall be subject to judicial review by the district court of Oklahoma County on questions of law and appeal therefrom to the Supreme Court of Oklahoma. Added by Laws 1961, p. 430, § 18.

Except as otherwise provided in this act, whenever the Commissioner is required to give notice to any applicant or licensee, such requirement shall be complied with if, within the time fixed herein, such notice shall be enclosed in an envelope plainly addressed to such applicant …

6 O.S. § 211A Repealed by Laws 1997, c. 111, § 113, eff. July 1, 1997

A. Commissioner's Report - Contents. The Commissioner shall report to the Governor annually. The report shall be a public document and shall include such matters as the Commissioner deems advisable. B. Copies furnished to Legislature and Oklahoma Publishing Clearing House. Copies…

The Commissioner may make and enforce such reasonable rules and regulations as are necessary for the enforcement and execution of this act. Added by Laws 1961, p. 430, § 20.

Any person who violates any provision of this act or any provision of the rules and regulations of the Commissioner is guilty of a misdemeanor, and upon conviction shall be punished by a fine of not less than the sum of One Hundred Dollars ($100.00) for each day of violation. Add…

1980.

attachment, levy of execution, or sequestration - Assignment to Commissioner. (a) All funds collected or received from the sale of checks by an agent shall be impressed with a trust in favor of such licensee in an amount equal to the amount of the proceeds due the licensee and sh…

(a) A person licensed under, and in compliance with all applicable requirements of, the Sale of Checks Act in effect immediately prior to the effective date of this act shall have until December 1, 1988, to: 1. Furnish the Commissioner with a corporate surety bond complying with …

trust companies. No officer or employee of the Department shall be an officer, director, attorney, owner or shareholder in any bank or trust company or, except as hereinafter provided, receive, directly or indirectly, any payment or gratuity from any such bank or trust company or…

Reproduction. A. Preservation of records. Every bank and trust company shall retain its business records for such periods as are or may be prescribed by or in accordance with the terms of this section. B. Permanent records. Each bank and trust company shall retain permanently the…

No member of the Board or officer or employee of the Department shall be liable in any civil action for damages for any act done or omitted in good faith in performing the functions of his office. Added by Laws 1965, c. 161, § 215.

The Board and the Commissioner, in the exercise of the power to make orders and rules and to issue regulations pursuant to this Code, shall act in the interests of promoting and maintaining a sound banking system and sound trust companies, the security of deposits and depositors …

2000.

approval by Commissioner. A. Commissioner's approval required where transfer of stock jeopardizes interest of depositors - Banks and trust companies. Whenever, in the opinion of the Commissioner, the condition of any bank or trust company is such that any transfer of the capital …

Every bank and trust company shall report promptly to the Commissioner any change for whatever reason in the chief executive officer and directors, including in its report a statement of the past and current business and professional affiliations of the new chief executive office…

A. Commissioner may direct assessment - Procedure. The Commissioner may order a bank or trust company to levy an assessment in a designated amount upon the holders of record of common stock to remedy an impairment of capital. Upon receipt of an order to levy an assessment, the di…

Sections 2201 through 2206 of this title and Sections 5 and 6 of this act shall be known and may be cited as the "Financial Privacy Act". Its purpose is to maintain the privacy and confidentiality of the records of customers of financial institutions. Added by Laws 1979, c. 191, …

(a) "Financial institution" means any office or branch of a bank, savings bank, savings association, building and loan association, savings and loan association and credit union located in the State of Oklahoma. (b) "Financial record" means any original of, or any copy of, any re…

financial records unless. A financial institution is prohibited from giving, releasing or disclosing any financial record to any government authority unless: (a) it has written consent from the customer for the specific record requested; or (b) it has been served with a subpoena …

A. A court of competent jurisdiction, state agency or legislative committee may issue a subpoena for a customer's financial record only if such subpoena is authorized by law. Said subpoena shall specify what financial record is sought. A subpoena issued by a state agency or legis…

A. Nothing in the Financial Privacy Act shall prohibit the disclosure or release of any financial record or information to any supervisory agency in the exercise of its supervisory or regulatory functions with respect to a financial institution. B. Nothing in the Financial Privac…

records. A. A government authority shall pay to the financial institution assembling, reproducing or providing any financial record of a customer a reasonable fee for such costs, including copying costs and labor costs, to be paid prior to the time the record is released. B. For …

A. A government authority may obtain financial records for use in a criminal investigation or proceeding through use of a search warrant obtained pursuant to a hearing wherein the court finds that the records are relevant to a legitimate law enforcement inquiry and delayed notice…

Immunity from liability for good faith reliance upon certificate. A. A financial institution shall not release the records of a customer until the government authority seeking the records certifies in writing that it has complied with the applicable provisions of the Financial Pr…