Okla. Stat. tit. 18, § 18-381.37
This is the official text of Okla. Stat. tit. 18, § 18-381.37, 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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Capital - Deposit accounts - Liability
Official statutory text
A. A mutual association may raise capital in the form of
deposit accounts or shares for such fixed, minimum or indefinite
periods of time as are authorized by its bylaws or by regulations of
the State Banking Commissioner. Such deposit accounts shall all
have equal priority upon liquidation. A mutual association may
issue such passbooks, certificates, and other evidence of deposit
accounts as are now or hereafter so authorized. With the exception
of forms now in use by existing associations, all such forms
evidencing deposit accounts shall be promptly submitted to the
Commissioner, or to the Director of the Office of Thrift
Supervision, and the issuance of any such form shall be immediately
discontinued in the event of disapproval. Unless otherwise provided
by its bylaws, the total amount of deposit account liability of a
mutual association is unlimited.
B. A stock association may incur liabilities in the form of
deposit accounts for such fixed, minimum or indefinite periods of
time as are authorized by its bylaws or by regulations of the
Commissioner. Such deposits shall all have equal priority upon
liquidation. A stock association may issue such passbooks,
certificates and other evidence of deposits as are now or may
hereafter be authorized for deposit associations. New or proposed
forms evidencing deposit accounts shall be promptly submitted to the
Commissioner and to the Director of the Office of Thrift
Supervision, and the issuance of any such form shall be immediately
discontinued in the event of disapproval. In stock associations,
holders of deposit accounts shall participate first in all assets
upon liquidation, but only to the extent of their deposit accounts.
Unless otherwise provided by its bylaws, the total amount of deposit
account liability of a stock association is unlimited.
Oklahoma Statutes - Title 18. Corporations Page 44
deposit accounts or shares for such fixed, minimum or indefinite
periods of time as are authorized by its bylaws or by regulations of
the State Banking Commissioner. Such deposit accounts shall all
have equal priority upon liquidation. A mutual association may
issue such passbooks, certificates, and other evidence of deposit
accounts as are now or hereafter so authorized. With the exception
of forms now in use by existing associations, all such forms
evidencing deposit accounts shall be promptly submitted to the
Commissioner, or to the Director of the Office of Thrift
Supervision, and the issuance of any such form shall be immediately
discontinued in the event of disapproval. Unless otherwise provided
by its bylaws, the total amount of deposit account liability of a
mutual association is unlimited.
B. A stock association may incur liabilities in the form of
deposit accounts for such fixed, minimum or indefinite periods of
time as are authorized by its bylaws or by regulations of the
Commissioner. Such deposits shall all have equal priority upon
liquidation. A stock association may issue such passbooks,
certificates and other evidence of deposits as are now or may
hereafter be authorized for deposit associations. New or proposed
forms evidencing deposit accounts shall be promptly submitted to the
Commissioner and to the Director of the Office of Thrift
Supervision, and the issuance of any such form shall be immediately
discontinued in the event of disapproval. In stock associations,
holders of deposit accounts shall participate first in all assets
upon liquidation, but only to the extent of their deposit accounts.
Unless otherwise provided by its bylaws, the total amount of deposit
account liability of a stock association is unlimited.
Oklahoma Statutes - Title 18. Corporations Page 44
Status: in_force · Read it on the official government site
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