Okla. Stat. tit. 18, § 18-381.31a
This is the official text of Okla. Stat. tit. 18, § 18-381.31a, part of Oklahoma’s Stat. tit. 18, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 18,." Browse the sections below, each linked to its official government source.
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Examination of association affairs by board of
Official statutory text
directors.
The board of directors of every association shall examine, at
least once in each calendar year at intervals of not more than
fifteen (15) months, all the affairs of the association including
the character and value of investments and loans, the efficiency of
operating procedures, and such other matters as the Commissioner
prescribes. A report of the examination shall be submitted promptly
to the Commissioner and shall embody such information as the
Commissioner requires. The board of directors may provide that such
examination shall be conducted by a committee of not less than three
Oklahoma Statutes - Title 18. Corporations Page 42
directors, by certified public accountants, or by independent
auditors responsible only to the board of directors. Such
examination shall be made when practicable without the assistance of
the executive officers of the bank or trust company. Such report of
examination shall be reviewed by the directors at the next meeting
of the board of directors.
The board of directors of every association shall examine, at
least once in each calendar year at intervals of not more than
fifteen (15) months, all the affairs of the association including
the character and value of investments and loans, the efficiency of
operating procedures, and such other matters as the Commissioner
prescribes. A report of the examination shall be submitted promptly
to the Commissioner and shall embody such information as the
Commissioner requires. The board of directors may provide that such
examination shall be conducted by a committee of not less than three
Oklahoma Statutes - Title 18. Corporations Page 42
directors, by certified public accountants, or by independent
auditors responsible only to the board of directors. Such
examination shall be made when practicable without the assistance of
the executive officers of the bank or trust company. Such report of
examination shall be reviewed by the directors at the next meeting
of the board of directors.
Status: in_force · Read it on the official government site
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