Okla. Stat. tit. 18, § 18-381.55
This is the official text of Okla. Stat. tit. 18, § 18-381.55, 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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Investment in real property
Official statutory text
In addition to any powers of investment permitted pursuant to
paragraph 17 of Section 381.54 of this title, every association
shall have power to invest in real property as follows:
1. Such real property or interests therein as the directors may
deem necessary or convenient for the conduct of the business of the
association, which for the purposes of this act shall be deemed to
include the ownership of stock of a wholly owned subsidiary
corporation having as its exclusive activity the ownership and
management of such property or interests, but the amount so invested
shall not exceed the sum of the reserves and undivided profits of
Oklahoma Statutes - Title 18. Corporations Page 62
the association, unless the State Banking Commissioner authorizes a
greater amount to be so invested;
2. An amount not exceeding the lesser of:
a. the sum of its reserves and undivided profits, or
b. ten percent (10%) of its assets as reported in its
most recent quarterly thrift financial report or other
statement of condition submitted to the Oklahoma State
Banking Department, in the purchase of real estate for
the purpose of producing income or for inventory or
sale or for development and improvement, including the
erection of buildings thereon, for sale or rental
purposes;
3. Such real property as may be acquired in satisfaction or
partial satisfaction of indebtedness owed to the association, by
deed, sheriff's deed, trustee's deed or otherwise.
paragraph 17 of Section 381.54 of this title, every association
shall have power to invest in real property as follows:
1. Such real property or interests therein as the directors may
deem necessary or convenient for the conduct of the business of the
association, which for the purposes of this act shall be deemed to
include the ownership of stock of a wholly owned subsidiary
corporation having as its exclusive activity the ownership and
management of such property or interests, but the amount so invested
shall not exceed the sum of the reserves and undivided profits of
Oklahoma Statutes - Title 18. Corporations Page 62
the association, unless the State Banking Commissioner authorizes a
greater amount to be so invested;
2. An amount not exceeding the lesser of:
a. the sum of its reserves and undivided profits, or
b. ten percent (10%) of its assets as reported in its
most recent quarterly thrift financial report or other
statement of condition submitted to the Oklahoma State
Banking Department, in the purchase of real estate for
the purpose of producing income or for inventory or
sale or for development and improvement, including the
erection of buildings thereon, for sale or rental
purposes;
3. Such real property as may be acquired in satisfaction or
partial satisfaction of indebtedness owed to the association, by
deed, sheriff's deed, trustee's deed or otherwise.
Status: in_force · Read it on the official government site
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