Okla. Stat. tit. 18, § 18-381.62

A. With the approval of the State Banking Commissioner, an

association may liquidate and dissolve. The Commissioner may grant

such approval upon an application by an association after the

proposal to liquidate and dissolve has been approved by a vote of a

majority of the outstanding voting stock, in the case of a stock

association, or by a majority vote of the total number of votes of

the members present in person or by proxy, in the case of a mutual

association, at a meeting called for that purpose, and that after

giving effect to any proposed purchase of the assets of the

association and assumption of its liabilities as provided for in

Section 381.63a of this title the association will be solvent and

will have sufficient liquid assets to pay off any remaining

depositors and creditors immediately.

B. 1. Upon approval by the Commissioner, the association shall

immediately cease to do business, shall have only the powers

necessary to effect an orderly liquidation and shall proceed to pay

its depositors and creditors and to wind up its affairs.

2. Within thirty (30) days of the approval, the association

shall send a notice of liquidation by mail to each depositor,

creditor, person interested in funds held as a fiduciary, lessee of

a safe deposit box and a bailor of property at the address of such

person as shown on the books of the association. However, in the

case of all depositors, creditors, loan customers or lessees of safe

deposit boxes whose deposits, accounts or other contractual

arrangements with the association have been purchased or assumed as

provided for in Section 381.63a of this title, a notice of purchase

and assumption shall be sent by the purchaser in lieu of a notice of

liquidation by the liquidating association. The notice prepared by

the association shall be posted conspicuously on the premises of the

association and shall be given such publication as the Commissioner

may require. The purchaser or the liquidating association, as

applicable, shall send with each notice a statement of the amount

shown on the books to be the claim or liability of the depositor,

creditor or other customer. Each such notice shall demand that

claims of depositors and creditors, or corrected statements of

amounts owed by the customer, if the amount claimed or owed differs

from that stated in the notice, be filed with the notifying

institution before a specified date not earlier than sixty (60) days

thereafter in accordance with the procedure prescribed in the

notice. The notice prepared by the liquidating association shall

also demand that property held by the association as bailee or in a

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safe deposit box not taken over by a purchaser be withdrawn by the

person entitled thereto.

3. As soon after approval as may be practicable the association

shall resign all fiduciary positions and take such action as may be

necessary to settle its fiduciary accounts, and the manner of

succession of trust powers and successor trustees shall follow the

same procedure as set out in Section 1018 of Title 6 of the Oklahoma

Statutes.

4. Any safe deposit boxes which have not been taken over by a

purchaser, and the contents of which have not been removed within

thirty (30) days after demand, shall be opened. Sealed packages

containing the contents of such box, with a certificate of inventory

of contents, together with any other unclaimed property held by the

association as bailee and certified inventories thereof, shall be

transferred to the Commissioner who shall administer the property in

accordance with the provisions of the Uniform Unclaimed Property

Act.

5. The approval of an application for liquidation shall not

impair the right of a depositor or creditor whose account has not

been unconditionally assumed by a purchaser to be paid in full by

the liquidating association, and all lawful claims of remaining
transferred to the Commissioner who shall administer the property in

accordance with the provisions of the Uniform Unclaimed Property

Act.

5. The approval of an application for liquidation shall not

impair the right of a depositor or creditor whose account has not

been unconditionally assumed by a purchaser to be paid in full by

the liquidating association, and all lawful claims of remaining

creditors and depositors of the liquidating association shall

promptly be paid. The unearned portion of the rental of a safe

deposit box not taken over by a purchaser shall be returned to the

lessee.

6. Any assets remaining after the discharge of or adequate

provision for all obligations shall be distributed to the

stockholders or members in accordance with a plan of voluntary

liquidation filed with and approved by the Commissioner. No such

distribution shall be made before all claims of depositors and

creditors have been:

a. assumed as provided for in Section 381.63a of this

title,

b. provided for by the establishment of a reserve fund in

an amount approved by the Commissioner,

c. paid by the liquidating association, or

d. in the case of any disputed claim, provided for by

transmittal to the Commissioner of a sum adequate to

meet any liability that may be judicially determined.

C. Any unclaimed distribution to a stockholder, member or

depositor shall be held until ninety (90) days after the final

distribution and then transmitted to the Commissioner. Such

unclaimed funds shall be held by the Commissioner and administered

in accordance with the provisions of the Uniform Unclaimed Property

Act.

D. If the Commissioner finds that assets will be insufficient

for the full discharge of all obligations or that completion of the

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liquidation has been unduly delayed, the Commissioner may take

possession and complete the liquidation in the manner provided in

this act for involuntary liquidations.

E. The Commissioner may require reports of the progress of

liquidation. Whenever the Commissioner is satisfied that the

liquidation has been properly completed the Commissioner shall enter

an order of dissolution and recommend to the Secretary of State that

the association's certificate of incorporation be canceled, upon

receipt of which the Secretary of State shall cancel such

certificate.