Okla. Stat. tit. 18, § 18-381.78
This is the official text of Okla. Stat. tit. 18, § 18-381.78, 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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Removal of officer, director or employee by
Official statutory text
Commissioner.
Any officer, director or employee of an association found by the
State Banking Commissioner to be dishonest, reckless, unfit to
participate in the conduct of the affairs of the association, or to
have engaged or participated in any unsafe or unsound practice in
connection with an association, or to be practicing a continuing
disregard or violation of laws, rules, regulations or orders which
are likely to cause substantial loss to the association or likely to
seriously weaken the condition of the association shall be removed
immediately from office by the board of directors of the association
of which such person is an officer, director or employee on the
written order of the Commissioner. The association or officer,
employee or director thereof, within ten (10) days of the date of
the written order directing removal, may appeal such removal
pursuant to the provisions of Section 207 of Title 6 of the Oklahoma
Oklahoma Statutes - Title 18. Corporations Page 98
Statutes. As soon as possible thereafter the Supreme Court shall
review the order of the Commissioner and make such findings as it
deems proper. During the pendency of the review of the protest
against removal, the officer, employee or director shall not perform
any of the duties of such office.
Any officer, director or employee of an association found by the
State Banking Commissioner to be dishonest, reckless, unfit to
participate in the conduct of the affairs of the association, or to
have engaged or participated in any unsafe or unsound practice in
connection with an association, or to be practicing a continuing
disregard or violation of laws, rules, regulations or orders which
are likely to cause substantial loss to the association or likely to
seriously weaken the condition of the association shall be removed
immediately from office by the board of directors of the association
of which such person is an officer, director or employee on the
written order of the Commissioner. The association or officer,
employee or director thereof, within ten (10) days of the date of
the written order directing removal, may appeal such removal
pursuant to the provisions of Section 207 of Title 6 of the Oklahoma
Oklahoma Statutes - Title 18. Corporations Page 98
Statutes. As soon as possible thereafter the Supreme Court shall
review the order of the Commissioner and make such findings as it
deems proper. During the pendency of the review of the protest
against removal, the officer, employee or director shall not perform
any of the duties of such office.
Status: in_force · Read it on the official government site
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