Oklahoma § 6-209 - Bank and trust companies - Examinations and reports

§ 6-209. Bank and trust companies - Examinations and reports

A. 1. The State Banking Commissioner shall, at least every

eighteen (18) months or as often as the Commissioner deems

advisable, examine every bank and trust company, and for the purpose

of making such examinations and special examinations, shall have

full access to all books, papers, securities, records and other

Oklahoma Statutes - Title 6. Banks and Trust Companies

sources of information under the control of banks and trust

companies. Upon the conclusion of the examination, the Commissioner

may make and file in the office of the Commissioner a report in

detail disclosing the results of such examination or may, on

conditions prescribed by the Commissioner, prepare a summary

memorandum regarding the results of such examination, and shall,

upon request by the bank, mail a copy of such report or memorandum

to the bank or trust company examined. However, the Commissioner

may accept, in lieu of any three consecutive bank examinations, the

examination that may have been made of the bank or trust company

within a reasonable period by the Federal Deposit Insurance

Corporation, the Board of Governors of the Federal Reserve System,

or other supervisory authority having examination jurisdiction and

authority over the bank or trust company provided a copy of the

examination, report, or other document prepared as a result of the

examination is furnished to the Commissioner.

2. The Commissioner may also accept any other report relative

to the condition of a bank or trust company, to include joint or

concurrent examinations which may be obtained by the authorities

within a reasonable period, in lieu of such report authorized by the

laws of this state to be required of such bank by the Oklahoma State

Banking Department, provided a copy of such report is furnished to

the Commissioner.

3. The Commissioner may enter into cooperative, coordinating,

and information-sharing agreements with the Federal Deposit

Insurance Corporation, the Board of Governors of the Federal Reserve

System, or other supervisory authority having examination

jurisdiction and authority over the bank or trust company with

respect to the periodic examination or other supervision of any

state bank, trust company, or state thrift.

4. When requested in writing upon authority of the board of

directors or stockholders owning a majority of the capital stock of

any bank or trust company, the Commissioner shall, if in the opinion

of the Commissioner such examination is desirable, make or cause to

be made an examination into the affairs and conditions of such bank

or trust company. For such examination such bank or trust company

shall pay the same fees as provided for in subsection B of Section

211 of this title.

B. Every bank shall make four reports each year and more often

if called upon by the Commissioner and according to the form which

may be prescribed by the Commissioner, and every trust company shall

make two reports each year and more often if called upon by the

Commissioner and according to the form which may be prescribed by

the Commissioner. They must be verified by the oath or affirmation

of the president, cashier or secretary of such bank or trust

company, attested by the signatures of at least two of the

directors, and shall be retained and made available for inspection

Oklahoma Statutes - Title 6. Banks and Trust Companies

upon request of the Commissioner or designated representatives of

the Commissioner. Each such report shall exhibit, in detail and

under appropriate headings, the assets and liabilities of the

corporation at the close of business on any last day by the

Commissioner specified, and shall be transmitted to the Commissioner

within thirty (30) calendar days after the call date, and may be

published at the expense of the bank or trust company in the same

form in which it is made to the Commissioner. The Commissioner

shall also have the power to call for special reports from any bank

or trust company whenever, in the judgment of the Commissioner, the

same are necessary in order to gain a full and complete knowledge of

its condition. However, the reports authorized and required by this

section, to be called for by the Commissioner, shall relate to a

date prior to the date of such call to be specified therein.

Additionally, the Commissioner may accept, in lieu of the reports

referred to in this section, reports made by banks that are members

of the Federal Reserve System on forms provided by the Federal

Reserve System or reports submitted by banks to the Federal Deposit

Insurance Corporation.

C. Every bank or trust company which fails to make and transmit

any report required within the discretion of the Commissioner, under

the Oklahoma Banking Code, shall be subject to a penalty not to

exceed Fifty Dollars ($50.00) for each day, after the period

respectively therein mentioned, that the bank or trust company

delays to make and transmit its report. Whenever any bank or trust

delays or refuses to pay the penalty herein imposed for a failure to

make and transmit a report, the Commissioner is hereby authorized to

maintain an action in the name of the state against the delinquent

bank or trust company for the recovery of such penalty, and all sums

collected by such action shall be paid into the Oklahoma State

Banking Department revolving fund pursuant to Section 211.1 of this

title.

D. For the purpose of carrying into effect the provisions of

this Code, the Commissioner shall provide a form for such

examinations and reports, and all examinations and reports received

by the Commissioner shall be preserved in the office of the

Commissioner for a period of not less than five (5) years. Such

examination and reports and all other records of operating banks and

trust companies in the Department are to be kept confidential,

except as permitted by this Code. Copies of such examinations and

reports in the possession of an institution under the Department's

supervision are the property of the Department and are not subject

to disclosure to third parties, including disclosure or production

pursuant to subpoena or other request. All requests for review of

such examinations and reports shall be directed to the Department

and are subject to the requirements of Section 208 of this title.

Oklahoma Statutes - Title 6. Banks and Trust Companies

Added by Laws 1965, c. 161, § 209. Amended by Laws 1970, c. 321, §

2; Laws 1977, c. 208, § 2, emerg. eff. June 14, 1977; Laws 1979, c.

173, § 3; Laws 1988, c. 166, § 1, emerg. eff. May 24, 1988; Laws

1994, c. 157, § 4, emerg. eff. May 6, 1994; Laws 1995, c. 36, § 5,

eff. July 1, 1995; Laws 1997, c. 111, § 11, eff. July 1, 1997; Laws

1998, c. 145, § 1, eff. Nov. 1, 1998; Laws 1999, c. 27, § 4, eff.

July 1, 1999; Laws 2000, c. 205, § 7, emerg. eff. May 17, 2000; Laws

2005, c. 48, § 5, eff. Nov. 1, 2005; Laws 2010, c. 62, § 2, emerg.

eff. April 9, 2010; Laws 2013, c. 62, § 5, emerg. eff. April 18,

2013.