Oklahoma § 6-1006 - Separation of books and accounts - Labeling securities Prohibited operations of banks and trust companies having trust
Full text of Oklahoma Oklahoma Statutes § 6-1006 — Separation of books and accounts - Labeling securities Prohibited operations of banks and trust companies having trust, with citation guidance and answers to common questions.
§ 6-1006. Separation of books and accounts - Labeling securities Prohibited operations of banks and trust companies having trust
powers.
A. Separation of books and accounts. Every bank having trust
powers and every trust company shall establish and maintain in its
office a trust department, in which shall be kept separate and apart
from its other business separate books and accounts, and shall keep
all moneys, funds, investments and property of the department at all
times segregated from and unmingled with other funds, moneys,
investments and property.
B. Labeling of securities. All bonds, warrants, notes,
mortgages, deeds and other securities of every nature shall be so
marked, stamped, labeled or otherwise identified and segregated as
to indicate the department of which such securities are a part.
C. Prohibited operations of banks and trust companies having
trust powers. No bank shall receive in its trust department and no
trust company shall receive deposits of current funds subject to
check or the deposit of checks, drafts, bills of exchange or other
items for collection or exchange purposes. Funds deposited or held
in trust by the bank or trust company awaiting investment shall be
carried in a separate account and shall not be used by the bank or
trust company in the conduct of its business unless it shall first
set aside in the trust department United States bonds or other
securities approved by the Commissioner. Funds awaiting investment
may only be so deposited for a short time, not to exceed one (1)
year.
Added by Laws 1965, c. 161, § 1006. Amended by Laws 1985, c. 168, §
6, emerg. eff. June 18, 1985; Laws 1993, c. 183, § 15, eff. July 1,
1993.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 6-1006
What does Oklahoma Statutes § 6-1006 cover?
Section 6-1006 ("Separation of books and accounts - Labeling securities Prohibited operations of banks and trust companies having trust") 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 § 6-1006?
A common citation format is "Oklahoma Statutes § 6-1006" (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 § 6-1006 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.