Okla. Stat. tit. 6, § 6-410
This is the official text of Okla. Stat. tit. 6, § 6-410, 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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Capital debentures - Rediscounting notes to Federal
Official statutory text
Reserve.
A. Borrowing - Capital debentures. A bank may borrow money and
issue evidence of indebtedness and may issue convertible or
nonconvertible capital notes or debentures subject to such terms,
conditions or limitations as may be prescribed by the Board by
order, rule or regulation. Capital notes or debentures which are by
their terms expressly subordinated to the prior payment in full of
all deposit liabilities of the bank shall be considered as part of
the unimpaired capital funds of the bank for the purpose of the
computation of the bank's loan and investment limit.
B. Rediscounting notes to Federal Reserve. Any bank may
rediscount with and sell to a Federal Reserve Bank any notes,
drafts, bills of exchange, acceptances and other securities, with no
restrictions, and as fully and to the same extent as this privilege
is given to national bank members under the terms of the Federal
Reserve Act, or by regulations of the Federal Reserve Board made
pursuant thereto.
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 62
A. Borrowing - Capital debentures. A bank may borrow money and
issue evidence of indebtedness and may issue convertible or
nonconvertible capital notes or debentures subject to such terms,
conditions or limitations as may be prescribed by the Board by
order, rule or regulation. Capital notes or debentures which are by
their terms expressly subordinated to the prior payment in full of
all deposit liabilities of the bank shall be considered as part of
the unimpaired capital funds of the bank for the purpose of the
computation of the bank's loan and investment limit.
B. Rediscounting notes to Federal Reserve. Any bank may
rediscount with and sell to a Federal Reserve Bank any notes,
drafts, bills of exchange, acceptances and other securities, with no
restrictions, and as fully and to the same extent as this privilege
is given to national bank members under the terms of the Federal
Reserve Act, or by regulations of the Federal Reserve Board made
pursuant thereto.
Oklahoma Statutes - Title 6. Banks and Trust Companies Page 62
Status: in_force · Read it on the official government site
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