Oklahoma § 6-305 - Application for authority to engage in banking or trust

§ 6-305. Application for authority to engage in banking or trust

company business - Contents - Oath - Proposed certificate of

incorporation.

A person seeking authority to organize a state bank or trust

company shall submit the original and ten copies of an application

for authority to organize a state bank or trust company. Two copies

of the proposed certificate of incorporation and proposed bylaws

shall be filed with the application. The application shall be

signed under oath by each of the organizers.

A. Contents of application. The application shall include the

following information:

1. The proposed location;

2. The amount of the capital stock and the class or classes of

capital stock proposed to be issued;

3. The corporate name, which shall not be confusingly similar

to that of any existing institution in the proposed community;

4. The names of the subscribers to the capital stock and the

amount of stock to which each subscribed. If the names of the

subscribers are not yet known, the applicant must also submit a copy

of any offering circular that may be used in connection with

soliciting subscriptions to the capital stock of the proposed bank;

5. The names of the persons, partnerships, associations, or

corporations which propose to own or control more than one-half

(1/2) of the capital stock;

Oklahoma Statutes - Title 6. Banks and Trust Companies

6. The names of the proposed directors;

7. Evidence of the character, financial responsibility and

ability of the organizers and proposed directors;

8. Evidence of the need and advisability of approving the

application to organize;

9. The past and present connection with any bank or trust

company, other than as a customer on terms generally available to

the public, of each proposed director and each subscriber to more

than five percent (5%) of the capital stock; and

10. Any other information which the Commissioner may require.

B. Statement to be signed under oath. The application shall

contain a statement that the requirements of Sections 303 and 304 of

this title have been met. The statement shall be signed by the

organizers and verified under oath.

C. Proposed Certificate of Incorporation. The proposed

certificate of incorporation shall contain the following:

1. The name of the bank or trust company;

2. If the bank is to exercise trust powers, a statement to that

effect;

3. The business street address, including city or town, and

county in which it is to be located;

4. The amount of capital, the number of shares of each class,

the relative preferences, powers and rights of each class, the par

value of the shares of each class and the amount of the paid-in

surplus;

5. A statement whether voting for directors shall or shall not

be cumulative and the extent of the preemptive rights of

stockholders;

6. The names and places of residence of the organizers and the

number of shares subscribed by each;

7. The term of its existence, which shall be perpetual;

8. The board of directors of the proposed bank or trust company

who shall serve until the next annual meeting of the stockholders,

or until their successors are regularly elected and qualified; and

9. Such other proper provisions to govern the business and

affairs of the bank or trust company as may be desired by the

organizers.

Added by Laws 1965, c. 161, § 305. Amended by Laws 1967, c. 258, §

2, emerg. eff. May 8, 1967; Laws 1968, c. 93, § 3, emerg. eff. April

1, 1968; Laws 1975, c. 109, § 5, emerg. eff. May 7, 1975; Laws 1982,

c. 204, § 6; Laws 1997, c. 111, § 23, eff. July 1, 1997; Laws 2001,

c. 55, § 2, eff. Nov. 1, 2001; Laws 2002, c. 67, § 5, eff. Nov. 1,

2002.