Oklahoma § 6-202 - Board membership and meetings

§ 6-202. Board membership and meetings

A. The Board shall consist of seven (7) members. The

Commissioner shall be Chairman and vote only in case of a tie on any

question requiring action by the Board.

B. Board - Qualifications. Other than the Commissioner, five

members of the Board shall be active officers of state banks or

trust companies. One member of the Board shall be a citizen of

Oklahoma Statutes - Title 6. Banks and Trust Companies

Oklahoma, thirty-five (35) years old or older, who shall not have

been in the past or become during the member's service on the Board

an officer or stockholder in any state-chartered banking

institution, nor shall such person be related in the first degree to

any other person who is or becomes during the term of such member an

officer or stockholder in any state-chartered banking institution

under the jurisdiction of the Department.

C. Board - Appointment - Qualifications - Successor - Removal.

Members of the Board, including the Commissioner, shall be appointed

by the Governor with the advice and consent of the Senate; provided,

appointments to the Board, and not including the Commissioner nor

the member not affiliated in the past or during the member's term

with any banking institution, shall only be made of individuals

whose names shall be included in a list of twelve names submitted to

the Governor by the Executive Committee of the Oklahoma Association

of State Banks, a division of the Oklahoma Bankers Association. If

a Board member resigns for any reason before his or her term expires

under the provisions of this section, the resigning Board member

shall notify the Governor in writing and shall submit a copy of his

or her letter of resignation to the Commissioner and the Executive

Committee of the Oklahoma Association of State Banks. If the

Oklahoma Association of State Banks shall not submit such list

within thirty (30) days after a vacancy shall occur, then the

Governor may appoint, with the advice and consent of the Senate,

such person as the Governor may select who shall meet the

qualifications set forth in subsection B of this section.

The term of office of each Board member other than the

Commissioner shall be six (6) years. The Governor may, after

notice, hearing and proceeding in accordance with the Administrative

Procedures Act, remove a member for cause.

D. Travel Expense. Each member shall be entitled to be

reimbursed for necessary travel expenses pursuant to the State

Travel Reimbursement Act.

E. Board Meetings - Quorum - Disqualification. The Board shall

meet at least semiannually. The Commissioner may call additional

meetings of the Board upon at least twenty-four (24) hours' notice

and in any event shall call a meeting upon the written request of

two members. Four members of the Board shall constitute a quorum,

and action taken by a majority of those voting at any meeting at

which a quorum is present shall be the action of the Board. No

member shall participate in a proceeding before the Board to which

any corporation or partnership of which the member is or was at any

time in the preceding twelve (12) months a director, officer,

partner, employee, member or stockholder is a party. A member may

be disqualified upon the member's own motion from participating in a

proceeding for any other cause deemed by the member to be

sufficient.

Oklahoma Statutes - Title 6. Banks and Trust Companies

F. Lack of Quorum - Appointment of Acting Members. At any

meeting at which a quorum is not present, whether by reason of the

inability of a member to participate or the voluntary

disqualification of the member, or otherwise, the Governor may

designate the Deputy Commissioner, the Attorney General, or the head

of any other department of the state government, in that order, as

acting members of the Board for the purpose of constituting a

quorum, but the Governor shall not designate more acting members

than shall be necessary to constitute a quorum.

G. Clerical, Technical and Legal Assistance. Such clerical,

technical and legal assistance as the Board may require shall be

provided by the Department.

Added by Laws 1965, c. 161, § 202. Amended by Laws 1975, c. 109, §

2, emerg. eff. May 7, 1975; Laws 1977, c. 208, § 1, emerg. eff. June

14, 1977; Laws 1984, c. 133, § 2, eff. Oct. 1, 1984; Laws 1985, c.

178, § 7, operative July 1, 1985; Laws 1994, c. 157, § 1, emerg.

eff. May 6, 1994; Laws 1995, c. 36, § 2, eff. July 1, 1995; Laws

1997, c. 111, § 6, eff. July 1, 1997; Laws 2005, c. 48, § 3, eff.

Nov. 1, 2005; Laws 2013, c. 62, § 3, emerg. eff. April 18, 2013.