Okla. Stat. tit. 6, § 6-1021
This is the official text of Okla. Stat. tit. 6, § 6-1021, part of Oklahoma’s Stat. tit. 6, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 6,." Browse the sections below, each linked to its official government source.
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Liquidation, dissolution and reorganization of trust
Official statutory text
companies.
A. A trust company may be liquidated, dissolved and
reorganized, for the reasons, in the manner and with the procedures
as set forth in Article XII of this act, as such article would be
applicable to trust companies, as if trust company were included in
the article, with the same force and effect as if named where the
word "bank" appears.
B. Voluntary liquidation and dissolution. A trust company may
be voluntarily liquidated, as a state bank may be voluntarily
liquidated, as provided in Section 1201 of this title.
C. Involuntary liquidation by Commissioner - Reorganization.
Except as otherwise provided in this Code, only the Commissioner may
take possession of a trust company and proceed in involuntary
liquidation or reorganization, in the same manner, for the same
reasons, and with the same procedures as provided in Section 1202 of
this title, in addition to the other provisions contained in this
article affecting the regulation of trust companies.
D. Reorganization. The reorganization of a trust company shall
follow the standard manner and procedures contained in Section 1203
of this title, which applies to banks, where the same is applicable
to trust companies.
E. Liquidation by Commissioner - Procedure. In liquidating a
trust company, the form, manner and procedures shall follow, where
applicable, the same form, manner and procedure as for banks
contained in Section 1204 of this title.
A. A trust company may be liquidated, dissolved and
reorganized, for the reasons, in the manner and with the procedures
as set forth in Article XII of this act, as such article would be
applicable to trust companies, as if trust company were included in
the article, with the same force and effect as if named where the
word "bank" appears.
B. Voluntary liquidation and dissolution. A trust company may
be voluntarily liquidated, as a state bank may be voluntarily
liquidated, as provided in Section 1201 of this title.
C. Involuntary liquidation by Commissioner - Reorganization.
Except as otherwise provided in this Code, only the Commissioner may
take possession of a trust company and proceed in involuntary
liquidation or reorganization, in the same manner, for the same
reasons, and with the same procedures as provided in Section 1202 of
this title, in addition to the other provisions contained in this
article affecting the regulation of trust companies.
D. Reorganization. The reorganization of a trust company shall
follow the standard manner and procedures contained in Section 1203
of this title, which applies to banks, where the same is applicable
to trust companies.
E. Liquidation by Commissioner - Procedure. In liquidating a
trust company, the form, manner and procedures shall follow, where
applicable, the same form, manner and procedure as for banks
contained in Section 1204 of this title.
Status: in_force · Read it on the official government site
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