Okla. Stat. tit. 6, § 6-512
This is the official text of Okla. Stat. tit. 6, § 6-512, 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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Out-of-state companies or banks - Reciprocity requirement -
Official statutory text
Certificate for establishment or relocation of branch.
A. An out-of-state industrial loan company or industrial bank
shall not be permitted to establish a de novo branch in this state,
nor to acquire a branch bank or savings association branch in this
state, unless, on a reciprocal basis, the state where the main
office of the out-of-state industrial loan company or industrial
bank is located would permit a bank chartered under the laws of this
state with a main office located in this state to establish a de
novo industrial loan company or industrial bank branch in that other
state without having engaged in an interstate merger transaction
with an industrial loan company or industrial bank having its main
office in that other state.
B. No industrial loan company or industrial bank shall be
permitted to establish and operate a branch, or relocate a branch,
except upon a certificate issued by the State Banking Commissioner.
C. The State Banking Board shall adopt and promulgate rules
necessary to effectuate the provisions of this act. 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.
A. An out-of-state industrial loan company or industrial bank
shall not be permitted to establish a de novo branch in this state,
nor to acquire a branch bank or savings association branch in this
state, unless, on a reciprocal basis, the state where the main
office of the out-of-state industrial loan company or industrial
bank is located would permit a bank chartered under the laws of this
state with a main office located in this state to establish a de
novo industrial loan company or industrial bank branch in that other
state without having engaged in an interstate merger transaction
with an industrial loan company or industrial bank having its main
office in that other state.
B. No industrial loan company or industrial bank shall be
permitted to establish and operate a branch, or relocate a branch,
except upon a certificate issued by the State Banking Commissioner.
C. The State Banking Board shall adopt and promulgate rules
necessary to effectuate the provisions of this act. 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.
Status: in_force · Read it on the official government site
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