Okla. Stat. tit. 6, § 6-805

Sale of personal property - Leasing of personal property -

Acquisition of leased personal property.

A. Bank prohibited from employing its funds in trade or

commerce - Exception.

1. Except as permitted in other sections of this Code, a state

bank shall not invest its funds in trade or commerce by buying,

selling, or otherwise dealing in goods, except as necessary to avoid

or minimize a loss on a loan or investment previously made in good

faith and shall not invest any of its funds in the stock of any

other bank, nor make any loans or discounts on the security of the

shares of its own capital stock, nor be the purchaser or holder of

any such shares, unless such securities or purchase shall be

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 100

necessary to prevent loss upon a debt previously contracted in good

faith.

2. Except as permitted in other sections of this Code, a trust

company shall not invest any of its funds in the stock of any other

trust company.

3. Unless written approval for a longer period is granted by

the Commissioner, stock or other personal property so purchased or

acquired shall within one (1) year from the time of its purchase or

acquisition be sold or disposed of at public or private sale, and

after the expiration of one (1) year any such stock or other

personal property shall not be considered as part of the assets of

any bank.

B. Sale of personal property acquired under subsection A. A

bank may sell any personal property which may come into its

possession as collateral security for any debt or obligation due it,

in the manner prescribed by the Uniform Commercial Code, Section 1-

101 et seq. of Title 12A of the Oklahoma Statutes, and other

pertinent statutes.

C. Leasing of personal property - Limitation on term and

amount.

1. A bank may become the owner and lessor of personal property

upon the specific request of and for the use of a customer. Except

upon the written approval of the Commissioner, the term of the lease

shall in no event exceed ten (10) years and all such leases shall

provide for the payment of regularly scheduled periodic payments,

the total of which shall at least equal the cost to the bank of the

personal property so leased.

2. The total investment by a bank for benefit of any person,

copartnership, association or corporation, combined with all other

obligations of such person to the bank, shall at no time exceed

thirty percent (30%) of the bank's capital.

D. Acquisition of leased personal property. When a bank has

completed a leasing arrangement in conformity with subsection C of

this section, the bank may then purchase the personal property to be

leased.