Oklahoma § 6-1604 - Requirements for carrying on banking business

§ 6-1604. Requirements for carrying on banking business

Requirements for carrying on banking business.

Oklahoma Statutes - Title 6. Banks and Trust Companies

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.