Okla. Stat. tit. 6, § 6-303.1

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 40

A. Except as provided in subsection B of this section, the

State Banking Commissioner may not issue a charter to a state bank

having required capital of less than the greater of Two Million

Dollars ($2,000,000.00) or such amount as may be required by the

Federal Deposit Insurance Corporation.

B. The Commissioner may require additional capital for a

proposed bank or, on application in the exercise of discretion

consistent with protecting safety and soundness, reduce the amount

of minimum capital required for a proposed bank, if the Commissioner

finds the proposed scope or type of operations of a proposed bank

requires additional, or permits reduced, capital, consistent with

the safety and soundness of the bank. To the extent determined by

the Commissioner to be relevant, the safety and soundness factors to

be considered by the Commissioner in the exercise of discretion

include but are not limited to:

1. The nature and type of business conducted;

2. The nature and degree of liquidity in assets held in a

corporate capacity;

3. The size of population of the proposed market;

4. The existence and type of concentrations of lending or

investing, if any, likely for the bank;

5. The geographic size of the proposed market;

6. The competence and experience of management;

7. The extent and adequacy of internal controls;

8. The presence or absence of annual unqualified audits by an

independent certified public accountant;

9. The reasonableness of business plans for retaining or

acquiring additional capital; and

10. Federal Deposit Insurance Corporation capital requirements.

C. Any trust company hereafter organized shall have paid-in

capital totaling Two Million Dollars ($2,000,000.00).

D. The issuance of preferred stock by a newly organized bank or

trust company may be authorized by the Commissioner. Preferred

stock shall have such preferences, powers and rights as the

Commissioner may approve. It shall not be retired without the

approval of the Commissioner and the requirement of such approval

shall be stated in the stock certificates, but the Commissioner may

give advance approval to sinking funds payable exclusively out of

earnings available for dividends.