Oklahoma § 18-381.24 - Change of office location - Change of name

§ 18-381.24. Change of office location - Change of name

No association shall move its main office or branch office, or

change its name except with permission granted by order of the State

Oklahoma Statutes - Title 18. Corporations

Banking Commissioner. In the event permission is granted to move

the main office to a town or city other than that named in the

certificate of incorporation of the association, or to change the

name, an amended certificate of incorporation shall be filed.

Added by Laws 1970, c. 101, § 24, eff. June 1, 1970. Amended by

Laws 1988, c. 65, § 16, emerg. eff. March 25, 1988; Laws 1990, c.

173, § 19, emerg. eff. May 3, 1990; Laws 1993, c. 183, § 43, eff.

July 1, 1993; Laws 2000, c. 81, § 20, eff. Nov. 1, 2000.

§18-381.24a. Branch banking - Deposit limitation – Certificate Penalty.

A. Beginning on the effective date of this act, upon approval

of the State Banking Commissioner, any association shall be

authorized to establish and operate in this state, on real property

owned or leased by the association, an unlimited number of branches

by acquisition, de novo, or otherwise. Such branches may be fixed

or mobile, and any permissible function, business, power, or

activity of any kind of the association may be performed or engaged

in at such location. However, branches established by acquisition

shall be subject to the limitations as set forth in subsection B of

this section.

B. 1. It shall be unlawful for any association to acquire any

other association, federal association or bank in this state or any

portion of its assets if such acquisition would result in the

association having direct or indirect ownership or control of more

than fifteen percent (15%) of the aggregate deposits of all

financial institutions located in this state which have deposits

insured by the Federal Deposit Insurance Corporation as determined

by the Commissioner on the basis of the most recent reports of such

institutions to their supervisory authorities which are available at

the time of the proposed acquisition.

2. The deposit limitation provided for in this subsection shall

not apply to disallow an acquisition of a bank, association or

federal association if control results only by reason of ownership

or control of shares of such financial institution acquired directly

or indirectly:

a.

in a good faith fiduciary capacity, except when such

shares are held for the benefit of the acquiring

association's shareholders, or

b.

by an association in the regular course of securing or

collecting a debt previously contracted in good faith,

or

c.

at the request of or in connection with the exercise

of regulatory authority for the purpose of preventing

imminent failure of the bank, association or federal

association or to protect the depositors thereof as

Oklahoma Statutes - Title 18. Corporations

determined by the principal supervisory agency in its

sole discretion.

Provided, however, at the end of a period of five (5) years from the

date of acquisition, for the circumstances set forth in

subparagraphs b and c of this paragraph, the deposits of the

acquired bank or association or federal association shall be

included in computing the deposit limitation and if deposits are in

excess, appropriate reductions and disposition shall be made within

six (6) months to meet such limitations. Further, in the

circumstances set forth in subparagraph c of this paragraph, the

Commissioner and the Federal Deposit Insurance Corporation shall

give priority in authorizing any such acquisition to any acquiring

association whose total deposits do not exceed the deposit

limitation.

C. 1. No association shall be permitted to establish or

operate a branch except upon certificate issued by the Commissioner

or Office of Thrift Supervision.

2. The application for a certificate to establish, operate, or

relocate a branch of an association shall comply with the

regulations of the Commissioner.

D. The provisions of this section shall not be construed in

derogation or denial of the right to operate and maintain facilities

as provided for in Sections 381.24b, 381.24c and 381.24d of this

title.

E. A violation of any portion of this section, upon conviction,

shall be a misdemeanor punishable by a fine not exceeding Five

Hundred Dollars ($500.00). Each day's violation shall constitute a

separate offense.

F. Nothing contained in this section shall be construed to

limit the authority of federal savings associations to branch in

accordance with federal law and regulations.

Added by Laws 1990, c. 173, § 20, emerg. eff. May 3, 1990. Amended

by Laws 1992, c. 295, § 29, eff. July 1, 1992; Laws 1993, c. 183, §

44, eff. July 1, 1993; Laws 1994, c. 17, § 1, emerg. eff. April 4,

1994; Laws 1996, c. 48, § 1, emerg. eff. April 8, 1996; Laws 2000,

c. 81, § 21, eff. Nov. 1, 2000; Laws 2000, c. 205, § 37, emerg. eff.

May 17, 2000.

§18-381.24b. Detached facilities - Certificate - Making of loans

prohibited - Penalty.

A. 1. Any association may maintain and operate, subject to the

approval of the State Banking Commissioner as evidenced by the

certificate of the Commissioner, outside attached facilities and

detached facilities on real property owned or leased by the

association having one or more tellers' windows for drive-in or

walk-up service or both.

Oklahoma Statutes - Title 18. Corporations

2. Any branch may maintain and operate outside attached

facilities having one or more tellers' windows for drive-in or walkup service or both on property owned or leased by the association.

B. 1. No association shall be permitted to maintain and

operate such additional outside facilities except upon certificate

issued by the Commissioner. The issuance of the certificates shall

rest solely in the discretion of the Commissioner.

2. The application for a certificate to maintain and operate a

detached facility shall comply with the rules of the Commissioner.

An application fee shall be payable to the Oklahoma State Banking

Department in an amount set by rule of the Commissioner.

3. Any association function may be performed at the facilities

except that of making loans. Upon the recommendation of the

Commissioner, the Attorney General shall bring an appropriate action

to enjoin an association from conducting the making of loans at such

facilities.

4. Any association validly operating a detached facility prior

to May 3, 1990, shall be granted a certificate to continue its

operation at such facility.

5. The provisions of this section shall not be construed in

derogation or denial of the right to operate and maintain facilities

as provided for in Sections 381.24c and 381.24d of this title.

C. A violation of any portion of this section shall be and

constitute a misdemeanor punishable upon conviction by a fine not

exceeding Five Hundred Dollars ($500.00). Each day's violation

shall constitute a separate offense.

D. Nothing contained in this section shall be construed to

limit the authority of federal savings associations to maintain and

operate outside or detached facilities in accordance with federal

law and regulations.

Added by Laws 1990, c. 173, § 21, emerg. eff. May 3, 1990. Amended

by Laws 1993, c. 183, § 45, eff. July 1, 1993; Laws 2000, c. 81, §

22, eff. Nov. 1, 2000.

§18-381.24c. Military savings facilities - Certificate Application - Functions permitted - Penalty.

A. Any association may, subject to the approval of the State

Banking Commissioner as evidenced by its certificates, and subject

to the approval of the military installation commander as evidenced

by a letter of approval, maintain and operate a military savings

facility on any military installation located in this state.

B. As used in this section, the term "military savings

facility" shall mean a detached facility or branch maintained by an

association upon a military installation within this state, provided

such military savings facility must be within the confines of a

military reservation and located upon property owned or leased by

the United States government.

Oklahoma Statutes - Title 18. Corporations

C. 1. No association shall be permitted to maintain and

operate such military savings facility, except on certificate issued

by the Commissioner. The issuance of such certificate shall rest

solely in the discretion of the Commissioner.

2. The application for a certificate to maintain and operate a

military savings facility shall comply with the regulations of the

Commissioner. An application fee shall be payable to the Oklahoma

State Banking Department in an amount set by rule of the

Commissioner.

3. No association function shall be performed at the facility

save that of accepting deposits, cashing checks, making change,

selling drafts, cashier's checks, money orders, traveler's checks,

etc., accepting payment for personal utility bills, redeeming and

selling United States Savings Bonds, and such other services as the

installation commander may request, in writing, of the association.

Upon the recommendation of the Commissioner, the Attorney General

shall bring an appropriate action to enjoin an association from

conducting association functions at such facility other than those

herein granted.

D. A violation of any portion of this section shall be and

constitute a misdemeanor punishable upon conviction by a fine not

exceeding Five Hundred Dollars ($500.00). Each day's violation

shall constitute a separate offense.

Added by Laws 1990, c. 173, § 22, emerg. eff. May 3, 1990. Amended

by Laws 1993, c. 183, § 46, eff. July 1, 1993; Laws 2000, c. 81, §

23, eff. Nov. 1, 2000.

§18-381.24d. Consumer banking electronic facilities - Assistance in

operation of facility - Access - Authority of federal savings

associations.

A. Any association may install, operate or utilize consumer

banking electronic facilities, provided written notice is given to

the State Banking Commissioner prior to the commencement of

operations of each facility. Such notice shall contain any

reasonable descriptive information pertaining to the facility as

shall be required by the rules or regulations of the Commissioner.

B. A consumer banking electronic facility, when located other

than at an association's main office or detached facility, may be

operated exclusively by association customers or transactions may be

performed through the assistance of any person provided that person

is not employed, either directly or indirectly, by any association,

association holding company or subsidiary thereof. Such assistance

shall not be deemed to be engaging in association business. Persons

assisting association customers at the site of a consumer banking

electronic facility may be trained by association employees and

nothing in this section shall be construed to prohibit periodic

servicing of a consumer banking electronic facility by an

Oklahoma Statutes - Title 18. Corporations

association employee. Under no circumstances may an employee of an

association, association holding company, affiliate or subsidiary

thereof perform transactions for others at the consumer banking

electronic facility. However, a consumer banking electronic

facility located on the business premises of a person engaged in the

sale of goods or services may be used to perform internal nonbanking

functions for such persons.

C. Consumer banking electronic facility transactions shall be

considered as the conduct of association transactions at the main

office of the association for which the data is transmitted.

D. 1. An association or combination of associations or

business entity or organization offering such services to an

association which establishes or maintains a manned or unmanned

consumer banking electronic facility or facilities shall make the

use thereof available to associations located in this state on a

fair and equitable basis of nondiscriminatory access and rates.

Provided, that if a retailer does accept any credit or debit card or

other system, nothing herein shall be construed to deprive such

retailer of the right to accept or reject any other credit or debit

card or other system offered by any other association or business

entity.

2. An association or combination of associations which

establishes and maintains a manned consumer banking electronic

facility or facilities may make the use thereof available on a

reciprocal basis to banks and credit unions located in this state on

a fair and equitable basis of nondiscriminatory access and rates.

3. In the event of a dispute, the Commissioner shall have the

jurisdiction to determine, after a hearing conducted upon notice and

pursuant to regulations adopted by the Commissioner, what

constitutes a fair and equitable basis of nondiscriminatory access

and rates, based upon cost of installation and proportionate usage

of the facility. A principal factor in any equitable formula of

shared costs of installation and/or operation shall give weight to

the number of transactions of each participating association.

4. Proceedings under this section shall be subject to Article

II of the Administrative Procedures Act, Section 309 et seq. of

Title 75 of the Oklahoma Statutes.

E. Nothing contained in this section shall be construed to

limit the authority of federal savings associations to install,

operate or utilize consumer banking electronic facilities in

accordance with federal law and regulations.

Added by Laws 1990, c. 173, § 23, emerg. eff. May 3, 1990. Amended

by Laws 1993, c. 183, § 47, eff. July 1, 1993; Laws 2000, c. 81, §

24, eff. Nov. 1, 2000.

§18-381.24e.

Operations centers.

Oklahoma Statutes - Title 18. Corporations

Upon written notice to the State Banking Commissioner, any

association may establish one or more operations centers on property

owned or leased by the association. For purposes of this section,

"operations center" means an association facility separated from the

main office of the association at which only the following

association operations are conducted: computer processing,

information systems, electronic communications, loan payment

processing, bookkeeping, item processing, currency and coin

processing and storage, data processing, and all support functions

related thereto.

Added by Laws 2000, c. 81, § 25, eff. Nov. 1, 2000.

§18-381.24f. Origination of loans and deposit accounts at locations

other than main or branch office.

Subject to rules as may be promulgated by the State Banking

Commissioner, an association may utilize employees of the

association to originate loans or originate deposit accounts, or

both, at locations other than the main office or a branch office of

such association, provided that the loan decision is made and the

loan is funded at the main office or a branch office of the

association and provided that no deposits shall be accepted or

received at the deposit origination office.

Added by Laws 2000, c. 81, § 26, eff. Nov. 1, 2000.

§18-381.24g. Association subsidiary as agent of holding company.

A. Any association subsidiary of an association holding company

may receive deposits, renew time deposits, close loans, service

loans, and receive payments on loans and other obligations as an

agent for any other bank or association owned or controlled by the

same holding company.

B. Despite any other provision of law, an association as an

agent in accordance with subsection A of this section for an

affiliate shall not be considered a branch of the affiliate.

C. An agency relationship between subsidiary institutions

pursuant to subsection A of this section shall be on terms that are

consistent with safe and sound practices and all applicable

regulations of any appropriate regulatory agency.

Added by Laws 2000, c. 81, § 27, eff. Nov. 1, 2000.