Oklahoma § 6-801 - Reserves
Full text of Oklahoma Oklahoma Statutes § 6-801 — Reserves, with citation guidance and answers to common questions.
§ 6-801. Reserves
A. Member banks of Federal Reserve System. Every state bank
that is a member of the Federal Reserve System shall maintain such
reserves against deposits as may be required by the Federal Reserve
Act, as amended, or by the Board of Governors of the Federal Reserve
System.
B. Banks not members of Federal Reserve System. Every bank
which is not a member of the Federal Reserve System shall maintain
such reserves against deposits as may be required by the Depository
Institutions Deregulation and Monetary Control Act of 1980, as
amended and as prescribed by the Board of Governors of the Federal
Reserve System.
C. Power of Board to change reserve requirement - State
nonmember banks. Whenever the Board shall determine that the
maintenance of sound banking practices or the prevention of
injurious credit expansion or contraction makes such action
advisable, the Board may change from time to time the requirements
as to reserves against demand or time deposits, or both, of banks
which are not members of the Federal Reserve System. Such change
shall not be operative or effective until reasonable notice thereof
has been given to all state banks which are not members of the
Federal Reserve System. Provided, that in no event shall the
reserve requirement be less than that required of a national bank.
Added by Laws 1965, c. 161, § 801. Amended by Laws 1967, c. 281, §
1; Laws 1968, c. 93, § 7; Laws 1971, c. 352, § 9; Laws 1975, c. 109,
§ 13, emerg. eff. May 7, 1975; Laws 1982, c. 60, § 2, operative Oct.
1, 1982; Laws 1997, c. 111, § 70, eff. July 1, 1997.
Frequently Asked Questions About Oklahoma § 6-801
What does Oklahoma Statutes § 6-801 cover?
Section 6-801 ("Reserves") 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 § 6-801?
A common citation format is "Oklahoma Statutes § 6-801" (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 § 6-801 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.