Okla. Stat. tit. 6, § 6-502

A. This section may be cited as the "Bank Holding Company

Section" and shall have for its purpose the maintenance of

competitive services between banks by limiting the expansion of bank

holding companies and similar organizations. It is deemed to be in

the public interest that competition prevail in the banking system

in the State of Oklahoma and to that end that the independence of

unit banks be preserved. Further, it shall be the policy of this

state to oppose any attempt by any bank holding company to acquire

control of any bank located in this state if such acquisition would

result in a monopoly or in an attempt to monopolize the business of

banking in this state.

B. A company may be a multibank holding company and have direct

or indirect ownership or control of two or more banks or bank

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holding companies, subject to the deposit limitation provided for in

subsection C of this section. However, except as specifically

permitted in this Code, all forms of direct or indirect ownership or

control of banks, bank holding companies, and multibank holding

companies by any out-of-state bank or out-of-state bank holding

company shall be prohibited.

C. It shall be unlawful for a multibank holding company or an

out-of-state bank or bank holding company to acquire direct or

indirect ownership or control of any insured depository institution

located in this state if the acquisition results in any such holding

company or bank having direct or indirect ownership or control of

insured depository institutions located in this state, the total

deposits of which at the time of the acquisition exceed twenty

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

institutions located in this state as determined by the State

Banking Commissioner on the basis of the most recent reports of such

institutions to their supervisory authorities which are available at

the time of the proposed acquisition or to acquire direct or

indirect control of any insured depository institution in this state

after such multibank holding company or an out-of-state bank or bank

holding company has reached or exceeded the twenty percent (20%)

threshold as provided in this subsection. Acquisitions of other

multibank holding companies shall not be exempt from this

limitation.

D. The deposit limitation provided for in subsection C of this

section shall not apply in the following circumstances:

1. Control of a bank by reason of ownership or control of

shares acquired by a bank or by a bank holding company in good faith

in a fiduciary capacity, except where such shares are held for the

benefit of the shareholders of such bank or such bank holding

company; or

2. Control of a bank by reason of ownership or control of

shares acquired by a bank or by a bank holding company in the

regular course of securing or collecting a debt previously

contracted in good faith.

E. A bank holding company or a multibank holding company may

apply for and obtain an interim charter to organize an interim state

bank for the purpose of facilitating the creation of a bank holding

company, or acquiring or merging with an existing bank in accordance

with the provisions of Section 502.1 of this title or the laws of

the United States.

F. A national bank in this state, bank holding company, or

multibank holding company seeking to acquire a state bank or

national bank in this state, or a nonbanking company that submits an

application for approval of such acquisition to the Board of

Governors of the Federal Reserve System pursuant to the provisions

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of Sections 1841 et seq. of Title 12 of the United States Code

Annotated shall also submit a copy of such application to the Board.

G. The district court shall have jurisdiction to determine all

questions of compliance with the provisions of this section, except
f

Governors of the Federal Reserve System pursuant to the provisions

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of Sections 1841 et seq. of Title 12 of the United States Code

Annotated shall also submit a copy of such application to the Board.

G. The district court shall have jurisdiction to determine all

questions of compliance with the provisions of this section, except

such jurisdiction shall not apply to actions of the Board or

proceedings before the Board conducted pursuant to the Banking Code.

The decision of the district court shall be appealable to the

Supreme Court in the same manner as in other civil cases.

H. 1. Each bank holding company, multibank holding company and

out-of-state bank holding company which directly or indirectly owns,

controls, or has power to vote twenty-five percent (25%) or more of

the voting shares of one or more banks shall furnish a copy of the

annual report of the operations of the holding company which is

submitted to the Federal Reserve Bank for each fiscal year to the

Commissioner.

2. The books and records of each bank holding company of state-

chartered banks are subject to inspection and examination by the

Commissioner.