Oklahoma § 6-1713 - Establishment of additional offices in this state

§ 6-1713. Establishment of additional offices in this state

A. A state trust institution may establish or acquire and

maintain trust offices or representative trust offices anywhere in

this state. A state trust institution desiring to establish or

acquire and maintain such an office shall file a written notice with

the Commissioner setting forth the name of the state trust

institution, the location of the proposed additional office and

whether the additional office will be a trust office or a

representative trust office. The state trust institution shall also

furnish a copy of the resolution adopted by the board authorizing

the additional office and pay a fee equal to that for bank branch

offices if the office is to be a trust office or the fee equal to

that for bank loan production offices if the office is to be a

representative trust office.

B. The notificant may commence business at the additional

office on the thirty-first day after the date the Commissioner

receives the notice, unless the Commissioner specifies an earlier or

later date.

C. The thirty-day period of review may be extended by the

Commissioner on a determination that the written notice raises

issues that require additional information or additional time for an

analysis. If the period of review is extended, the state trust

institution may establish the additional office only upon prior

written approval by the Commissioner.

D. The Commissioner may deny approval of the additional office

if the Commissioner finds that the notificant lacks sufficient

financial resources to undertake the proposed expansion without

adversely affecting its safety or soundness or that the proposed

office would be contrary to the public interest.

Added by Laws 1998, c. 104, § 13, eff. Nov. 1, 1998. Amended by

Laws 2003, c. 180, § 6, eff. Nov. 1, 2003.

Oklahoma Statutes - Title 6. Banks and Trust Companies