Oklahoma § 6-2020 - Special Reserve for Dormant Accounts
Full text of Oklahoma Oklahoma Statutes § 6-2020 — Special Reserve for Dormant Accounts, with citation guidance and answers to common questions.
§ 6-2020. Special Reserve for Dormant Accounts
Any money deposited to a member's account which has not matured
to at least an amount equal to the par value of shares as
established by the credit union's certificate of incorporation
within a three-year period may be transferred to a Special Reserve
for Dormant Accounts if the owner of such an account, after
reasonable effort, cannot be located, and thereafter, no dividends
or interest will accrue to these accounts. Any money so transferred
shall be subject to a service charge to be set by the State Credit
Union Board. If, however, the member at a later date requests a
withdrawal of these funds, the money less any applicable service
Oklahoma Statutes - Title 6. Banks and Trust Companies
charge will be transferred out of the Special Reserve for Dormant
Accounts, and the request for withdrawal be honored.
Added by Laws 1968, c. 187, § 5, emerg. eff. April 15, 1968.
Amended by Laws 1988, c. 66, § 4, emerg. eff. March 25, 1988; Laws
1992, c. 90, § 16, eff. July 1, 1992.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 6-2020
What does Oklahoma Statutes § 6-2020 cover?
Section 6-2020 ("Special Reserve for Dormant Accounts") 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 § 6-2020?
A common citation format is "Oklahoma Statutes § 6-2020" (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 § 6-2020 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.