Oklahoma § 6-2205 - Disclosures or releases authorized

§ 6-2205. Disclosures or releases authorized

A. Nothing in the Financial Privacy Act shall prohibit the

disclosure or release of any financial record or information to any

supervisory agency in the exercise of its supervisory or regulatory

functions with respect to a financial institution.

B. Nothing in the Financial Privacy Act prohibits a financial

institution from disclosing or releasing any financial record or

information to another financial institution for the usual and

regular business purposes of the latter or from providing copies of

any financial record to any court or government authority as an

incident to perfecting a security interest, proving a claim in

bankruptcy or otherwise collecting on a debt either owed the

financial institution itself or owed the financial institution in

its role as a fiduciary.

C. Nothing in the Financial Privacy Act prohibits a financial

institution from notifying a government authority that such

institution or an officer, employee or agent of such institution has

Oklahoma Statutes - Title 6. Banks and Trust Companies

information that may be relevant to a possible violation of any

statute or regulation.

D. Sections 2201 through 2204 of this title shall not apply to

any court order or subpoena issued in connection with proceedings

before a multicounty grand jury, except that a court shall have

authority to order a financial institution, on which a multicounty

grand jury subpoena for customer records has been served, not to

notify the customer of the existence of the subpoena or information

that has been furnished to the multicounty grand jury. The court

may order that the customer not be notified only if it finds:

1. That the requested records are relevant to an ongoing

criminal investigation being conducted by the multicounty grand

jury; and

2. That disclosure of the existence or issuance of, or

compliance with the subpoena may frustrate or impede the

investigation.

Added by Laws 1979, c. 191, § 5. Amended by Laws 1985, c. 173, § 1,

emerg. eff. June 18, 1985; Laws 1990, c. 232, § 1, emerg. eff. May

18, 1990; Laws 1996, c. 346, § 3, eff. Nov. 1, 1996.