Okla. Stat. tit. 6, § 6-1612
This is the official text of Okla. Stat. tit. 6, § 6-1612, 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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Conversion from a federal agency to a state chartered
Official statutory text
agency and the reverse.
Conversion from a federal agency to a state chartered agency and
the reverse.
A. An international banking corporation desiring to convert its
existing federal agency or representative office into a state
chartered agency or representative office shall submit to the Board
an application, on a form the Board shall provide, accompanied by
nonrefundable application fees as may be set by the Board. An
examination and investigation may be conducted to the extent
determined necessary by the Board. The cost of any such examination
shall be paid by the applicant.
B. Nothing in the laws of this state shall restrict the right
of a state chartered agency or representative office which has paid
its fee to convert to a federal agency or representative office upon
compliance with the laws of the United States. Upon completion of
any such conversion, the state charter shall automatically terminate
and shall be surrendered to the Board.
C. An international banking corporation desiring to convert its
existing state chartered representative office to a state chartered
agency or its existing state chartered agency to a state chartered
representative office shall submit to the Board an application on a
form the Board shall provide. An application to convert to an
agency shall be accompanied by all of the information and documents
that the state requires applicants for an agency to submit and by a
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 211
nonrefundable application fee in an amount to be set by rule of the
Board. A nonrefundable application fee in an amount to be set by
rule of the Board shall accompany an application to convert to a
representative office.
D. An international banking corporation desiring to convert
from a federal agency or representative office into a state
chartered agency or representative office, or from its existing
state chartered representative office to an agency, shall be
required to meet the minimum criteria of the particular type of
state chartered institution into which it is converting as well as
any other criteria or conditions required by rule or order of the
Board.
Conversion from a federal agency to a state chartered agency and
the reverse.
A. An international banking corporation desiring to convert its
existing federal agency or representative office into a state
chartered agency or representative office shall submit to the Board
an application, on a form the Board shall provide, accompanied by
nonrefundable application fees as may be set by the Board. An
examination and investigation may be conducted to the extent
determined necessary by the Board. The cost of any such examination
shall be paid by the applicant.
B. Nothing in the laws of this state shall restrict the right
of a state chartered agency or representative office which has paid
its fee to convert to a federal agency or representative office upon
compliance with the laws of the United States. Upon completion of
any such conversion, the state charter shall automatically terminate
and shall be surrendered to the Board.
C. An international banking corporation desiring to convert its
existing state chartered representative office to a state chartered
agency or its existing state chartered agency to a state chartered
representative office shall submit to the Board an application on a
form the Board shall provide. An application to convert to an
agency shall be accompanied by all of the information and documents
that the state requires applicants for an agency to submit and by a
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 211
nonrefundable application fee in an amount to be set by rule of the
Board. A nonrefundable application fee in an amount to be set by
rule of the Board shall accompany an application to convert to a
representative office.
D. An international banking corporation desiring to convert
from a federal agency or representative office into a state
chartered agency or representative office, or from its existing
state chartered representative office to an agency, shall be
required to meet the minimum criteria of the particular type of
state chartered institution into which it is converting as well as
any other criteria or conditions required by rule or order of the
Board.
Status: in_force · Read it on the official government site
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