Oklahoma § 18-381.37 - Capital - Deposit accounts - Liability
Full text of Oklahoma Oklahoma Statutes § 18-381.37 — Capital - Deposit accounts - Liability, with citation guidance and answers to common questions.
§ 18-381.37. Capital - Deposit accounts - Liability
A. A mutual association may raise capital in the form of
deposit accounts or shares for such fixed, minimum or indefinite
periods of time as are authorized by its bylaws or by regulations of
the State Banking Commissioner. Such deposit accounts shall all
have equal priority upon liquidation. A mutual association may
issue such passbooks, certificates, and other evidence of deposit
accounts as are now or hereafter so authorized. With the exception
of forms now in use by existing associations, all such forms
evidencing deposit accounts shall be promptly submitted to the
Commissioner, or to the Director of the Office of Thrift
Supervision, and the issuance of any such form shall be immediately
discontinued in the event of disapproval. Unless otherwise provided
by its bylaws, the total amount of deposit account liability of a
mutual association is unlimited.
B. A stock association may incur liabilities in the form of
deposit accounts for such fixed, minimum or indefinite periods of
time as are authorized by its bylaws or by regulations of the
Commissioner. Such deposits shall all have equal priority upon
liquidation. A stock association may issue such passbooks,
certificates and other evidence of deposits as are now or may
hereafter be authorized for deposit associations. New or proposed
forms evidencing deposit accounts shall be promptly submitted to the
Commissioner and to the Director of the Office of Thrift
Supervision, and the issuance of any such form shall be immediately
discontinued in the event of disapproval. In stock associations,
holders of deposit accounts shall participate first in all assets
upon liquidation, but only to the extent of their deposit accounts.
Unless otherwise provided by its bylaws, the total amount of deposit
account liability of a stock association is unlimited.
Oklahoma Statutes - Title 18. Corporations
Added by Laws 1970, c. 101, § 37, eff. June 1, 1970. Amended by
Laws 1978, c. 168, § 11, eff. July 1, 1979; Laws 1988, c. 65, § 23,
emerg. eff. March 25, 1988; Laws 1990, c. 118, § 9, emerg. eff.
April 23, 1990; Laws 1993, c. 183, § 50, eff. July 1, 1993; Laws
2000, c. 81, § 35, eff. Nov. 1, 2000.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 18-381.37
What does Oklahoma Statutes § 18-381.37 cover?
Section 18-381.37 ("Capital - Deposit accounts - Liability") 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 § 18-381.37?
A common citation format is "Oklahoma Statutes § 18-381.37" (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 § 18-381.37 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.