Okla. Stat. tit. 6, § 6-1405
This is the official text of Okla. Stat. tit. 6, § 6-1405, 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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Unlawful gratuity or compensation - Transactions of
Official statutory text
persons connected with bank.
A. It shall be unlawful and deemed a Class D1 felony offense
for an affiliate of a bank or trust company or for an officer,
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 182
director or employee of a bank or trust company or affiliate of a
bank or trust company:
1. To solicit, accept or agree to accept, directly or
indirectly, from any person other than the institution any gratuity,
compensation or other personal benefit for any action taken by the
institution or for endeavoring to procure any such action; or
2. To have any interest, directly or indirectly, in the
proceeds of a loan or of a purchase or sale made by the bank, unless
such loan is otherwise permissible, and the purchase or sale is
expressly authorized by this Code or by rule of the Board and,
unless otherwise directed in writing by the Commissioner, is
specifically approved by vote of a majority of the board of
directors of the bank or trust company. Provided, no interested
director or trustee shall take part in such vote.
B. In this section the term "affiliate" shall include:
1. Any person who holds a majority of the stock of a bank or
has been determined by the Board to hold a controlling interest
therein, any other corporation in which such person owns a majority
of the stock and any partnership in which the person has an
interest;
2. Any corporation in which the institution or an officer,
director or employee thereof holds a majority of the stock and any
partnership in which such person has an interest; or
3. Any corporation of which a majority of the directors are
officers, directors or employees of the institution or of which
officers, directors, trustees or employees constitute a majority of
the directors of the institution.
A. It shall be unlawful and deemed a Class D1 felony offense
for an affiliate of a bank or trust company or for an officer,
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 182
director or employee of a bank or trust company or affiliate of a
bank or trust company:
1. To solicit, accept or agree to accept, directly or
indirectly, from any person other than the institution any gratuity,
compensation or other personal benefit for any action taken by the
institution or for endeavoring to procure any such action; or
2. To have any interest, directly or indirectly, in the
proceeds of a loan or of a purchase or sale made by the bank, unless
such loan is otherwise permissible, and the purchase or sale is
expressly authorized by this Code or by rule of the Board and,
unless otherwise directed in writing by the Commissioner, is
specifically approved by vote of a majority of the board of
directors of the bank or trust company. Provided, no interested
director or trustee shall take part in such vote.
B. In this section the term "affiliate" shall include:
1. Any person who holds a majority of the stock of a bank or
has been determined by the Board to hold a controlling interest
therein, any other corporation in which such person owns a majority
of the stock and any partnership in which the person has an
interest;
2. Any corporation in which the institution or an officer,
director or employee thereof holds a majority of the stock and any
partnership in which such person has an interest; or
3. Any corporation of which a majority of the directors are
officers, directors or employees of the institution or of which
officers, directors, trustees or employees constitute a majority of
the directors of the institution.
Status: in_force · Read it on the official government site
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