Oklahoma § 6-1610 - Lending limits
Full text of Oklahoma Oklahoma Statutes § 6-1610 — Lending limits, with citation guidance and answers to common questions.
§ 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.
Frequently Asked Questions About Oklahoma § 6-1610
What does Oklahoma Statutes § 6-1610 cover?
Section 6-1610 ("Lending limits") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 6-1610?
A common citation format is "Oklahoma Statutes § 6-1610" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 6-1610 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.