Okla. Stat. tit. 6, § 6-501.2

a branch – Application – Existing branches and detached facilities –

Temporary branches – Deposit limitations – Construction with Title

6, Sections 421 and 422.

A. No bank shall be permitted to establish and operate a

branch, or relocate a branch, except upon a certificate issued by

the State Banking Commissioner or the Comptroller of the Currency.

B. Upon approval of the Commissioner or Comptroller of the

Currency, any bank is authorized to establish and operate in

Oklahoma, on real property owned or leased by the bank, an unlimited

number of branches by acquisition, de novo, or otherwise, whether

fixed or mobile, at or from which any permissible function,

business, power, or activity of any kind whatsoever of the bank may

be performed or engaged in. Provided, however, no bank, savings

bank, savings association, out-of-state bank, out-of-state savings

bank, out-of-state savings association, industrial loan company or

industrial bank may establish or maintain a branch in this state on

the premises or property of an affiliate if the affiliate engages in

commercial activities. For purposes of this section, “affiliate”

means any company that controls, or is controlled by another

company, and “commercial activities” means activities in which a

bank may not engage under federal law, either directly or indirectly

through an operating subsidiary or financial subsidiary.

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 75

C. Except for the procedures relating to establishment of

temporary branches, the procedures, standards and requirements for

making application for permission to establish and operate a branch

shall be set by rule of the Banking Board. However, no emphasis

upon competition or competitive factors shall be imposed, and in no

event shall such rules impose standards, criteria, or requirements

upon state-chartered banks which are more onerous than those

existing for national banks.

D. All existing branches and detached facilities of a bank

shall, upon the expiration of sixty (60) days after the effective

date of this act, by operation of law and without further action by

the bank or Commissioner, or the Comptroller of the Currency, become

and be deemed lawful branches, fully authorized and validly existing

pursuant to this section. Provided, a bank may elect to opt-out of

the effects of this subsection as to one or more of its existing

detached facilities, by providing to its chartering authority, prior

to the expiration of sixty (60) days after the effective date of

this act, a written notice that the bank has opted-out of the

effects of this subsection with the result that one or more of its

detached facilities will continue to be classified as detached

facilities rather than as branches. The written notice must clearly

identify each particular detached facility to which it applies.

“Existing branches and detached facilities”, for purposes of this

subsection, means branches or detached facilities which have been

approved and are open and operating, or are approved but unopened,

or for which application was made prior to the effective date of

this act and for which approval is given after the effective date of

this act.

E. Any bank or savings association with its main office or a

branch office located in a county where an institution of higher

education is located, may open accounts and accept deposits on the

campus of the institution of higher education if notice is provided

to the Department and written permission is granted by the

institution, for no more than seven (7) days per year. The

authorization of this subsection shall be self-executing and no

application to the regulators of the bank or savings association

shall be required by this section for a bank or savings association

to comply with this subsection.

F. A temporary branch may be established and operated upon

approval of the Commissioner or Comptroller of the Currency. As
no more than seven (7) days per year. The

authorization of this subsection shall be self-executing and no

application to the regulators of the bank or savings association

shall be required by this section for a bank or savings association

to comply with this subsection.

F. A temporary branch may be established and operated upon

approval of the Commissioner or Comptroller of the Currency. As

used in this subsection, “temporary branch” means:

1. A branch that is located at a fixed site that is within one

thousand (1,000) feet of the location of the approved site of the

same bank for a permanent branch, and such temporary branch is

scheduled to, and will, permanently close not later than a certain

date, no longer than one (1) year after the temporary branch is

first opened, as specified in the permanent branch application and

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 76

the public notice. No separate fee shall be imposed for a temporary

branch approved under this paragraph if the temporary site is

originally described in an application seeking to establish a

permanent branch;

2. A branch that is approved for a limited period of time,

without requirement of notice or hearing, as a temporary replacement

for a previously existing branch that is inoperable due to an

“emergency” as defined in Section 102 of this title or that is

established because of an emergency in a community that prevents

access to an established branch by customers in a specified

community. Approval of a temporary branch established under this

paragraph shall expire at the time the emergency that caused the

establishment of the temporary branch no longer exists. No separate

fee shall be imposed for a temporary branch approved under this

paragraph; or

3. Branches that are approved for a limited time not to exceed,

in the aggregate, fifteen (15) days per year, per institution, that

will be operated during special events open to the public or to

members of a specific group. The application fee for a temporary

branch under this paragraph shall be the same as that charged for a

loan and deposit production office. Requests to establish a branch

under this paragraph must be made on a form prescribed by the

Commissioner.

G. The Board may, by rule, establish a procedure whereby the

Commissioner may grant approval and issue the certificate to

establish or acquire and operate or relocate a branch or other

banking office permitted by this section without a hearing before

the Board. The procedure shall include criteria set by the Board to

be applied by the Commissioner in the consideration of the

application.

H. Notwithstanding subsection C of this section, an application

fee for branch, branch relocation or other banking office

applications may be assessed in amounts set by rule of the Board.

I. 1. It shall be unlawful for any bank or out-of-state bank

which has direct or indirect control of more than twenty percent

(20%) of the total amount of deposits of insured depository

institutions located in Oklahoma, as determined by the Commissioner

on the basis of the most recent reports of such institutions to

their supervisory authorities, to acquire any other bank or savings

association in this state.

2. The deposit limitation provided for in this subsection shall

not apply to disallow an acquisition of a bank or savings

association if control results only by reason of ownership or

control of shares of a bank or savings association acquired directly

or indirectly:

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a. in a good faith fiduciary capacity, except when such

shares are held for the benefit of the acquiring

bank’s shareholders,

b. by a bank in the regular course of securing or

collecting a debt previously contracted in good faith,

or

c. at the request of or in connection with the exercise

of regulatory authority for the purpose of preventing
tes - Title 6. Banks and Trust Companies Page 77

a. in a good faith fiduciary capacity, except when such

shares are held for the benefit of the acquiring

bank’s shareholders,

b. by a bank in the regular course of securing or

collecting a debt previously contracted in good faith,

or

c. at the request of or in connection with the exercise

of regulatory authority for the purpose of preventing

imminent failure of the bank or savings association or

to protect the depositors thereof as determined by the

principal supervisory agency in its sole discretion.

However, at the end of a period of five (5) years from the date of

acquisition, for the circumstances set forth in subparagraphs b and

c of this paragraph, the deposits of the acquired bank or savings

association shall be included in computing the deposit limitation

and if deposits are in excess, appropriate reductions and

disposition shall be made with six (6) months to meet such

limitations. Further, in the circumstances set forth in

subparagraph c of this paragraph, the Commissioner and Federal

Deposit Insurance Corporation shall give priority in authorizing any

such acquisition to any acquiring bank whose total deposits do not

exceed the deposit limitation.

J. The provisions of this section shall not be construed in

derogation or denial of the rights to operate and maintain

facilities as provided for in Sections 421 and 422 of this title.

K. An operating subsidiary of a bank which engages in the

business of owner-occupied home mortgage lending shall not be

considered a branch under this section in order to conduct such

lending operations at any location.