Oklahoma § 18-381.20 - Payment into escrow account - Required savings capital
Full text of Oklahoma Oklahoma Statutes § 18-381.20 — Payment into escrow account - Required savings capital, with citation guidance and answers to common questions.
§ 18-381.20. Payment into escrow account - Required savings capital
A. Before a certificate of authority is issued for a new mutual
association, there shall be paid into the escrow fund as
subscriptions to deposit accounts of the proposed association such
aggregate amount as the State Banking Commissioner shall deem
adequate, but, if insured, not less than an amount necessary to meet
the requirements of the Federal Deposit Insurance Corporation. If
the organizers intend to organize and operate the association
without federal insurance on its deposit accounts, the amount paid
into the escrow fund as subscriptions to deposit accounts of the
proposed association shall be at the sole discretion of the
Commissioner.
B. No permanent capital stock association may be organized
hereafter unless, prior to the filing of its certificate of
incorporation, such amounts of its permanent capital stock as the
Commissioner shall deem adequate, but, if insured, not less than an
amount necessary to meet the requirements of the Federal Deposit
Insurance Corporation shall have been subscribed for and paid for in
lawful money of the United States. If the organizers intend to
organize and operate the association without federal insurance on
its deposit accounts, the amount of permanent capital stock required
shall be at the sole discretion of the Commissioner.
Added by Laws 1970, c. 101, § 20, eff. June 1, 1970. Amended by
Laws 1978, c. 168, § 2, eff. July 1, 1979; Laws 1987, c. 61, § 3,
emerg. eff. May 4, 1987; Laws 1988, c. 65, § 13, emerg. eff. March
25, 1988; Laws 1990, c. 118, § 5, emerg. eff. April 23, 1990; Laws
1993, c. 183, § 41, eff. July 1, 1993; Laws 2000, c. 81, § 16, eff.
Nov. 1, 2000.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 18-381.20
What does Oklahoma Statutes § 18-381.20 cover?
Section 18-381.20 ("Payment into escrow account - Required savings capital") 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 § 18-381.20?
A common citation format is "Oklahoma Statutes § 18-381.20" (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 § 18-381.20 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.