Okla. Stat. tit. 6, § 6-806

A. A bank may purchase and sell equity and investment

securities without recourse, solely on the order and for the account

of a customer, and may not underwrite an issue of securities except

as otherwise provided by the Banking Code or rules adopted

thereunder.

B. Except as otherwise provided by the Banking Code or rules

adopted thereunder, a bank may not invest its funds in equity

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securities except as necessary to avoid or minimize a loss on a loan

or investment previously made in good faith.

C. A bank may purchase investment securities for its own

account under limitations and restrictions prescribed by rules

adopted under the Banking Code. Except as otherwise provided by

this section, the total amount of the investment securities of any

one obligor or maker, held by the bank for its own account, may not

exceed an amount equal to thirty percent (30%) of the bank's capital

using data from the most recent quarterly report of condition of the

bank or trust company.

D. With the approval of the Commissioner, a bank may establish

and capitalize one or more operating subsidiaries and financial

subsidiaries, subject to rules promulgated by the Board.

E. Notwithstanding subsection A, B or C of this section, a bank

may, with prudent banking judgment, deal in, underwrite, or purchase

for its own account, without limitation as to amount unless

otherwise indicated in this subsection:

1. Bonds and other legally created general obligations of a

state, an agency or political subdivision of a state, the United

States, or an agency or instrumentality of the United States;

2. An investment security that this state, an agency or

political subdivision of this state, the United States, or an agency

or instrumentality of the United States has unconditionally agreed

to purchase, insure, or guarantee;

3. Investment securities (including limited obligation bonds,

revenue bonds, and obligations that satisfy the requirements of

Section 142(b)(1) of the Unites States Internal Revenue Code) issued

by or on behalf of any state or political subdivision of a state,

including any municipal corporate instrumentality of one or more

states, or any public agency or authority of any state or political

subdivision of a state, if the bank is well capitalized (as defined

in 12 U.S.C., Section 1831o);

4. Investment securities issued under the authority of the

Federal Farm Loan Act;

5. Investment securities insured by the Secretary of Housing

and Urban Development under Title IX of the National Housing Act or

investment securities insured by the Secretary of Housing and Urban

Development pursuant to Section 207 of the National Housing Act, if

the investment securities to be issued in payment of the insured

obligations are guaranteed as to principal and interest by the

United States;

6. Securities that are offered and sold under 15 U.S.C.,

Section 77d(5);

7. Mortgage-related securities, as defined by 15 U.S.C.,

Section 78c(a), except that notwithstanding Section 347 of the

Riegle Community Development and Regulatory Improvement Act of 1994,

a note or obligation that is secured by a first lien on one or more

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parcels of real estate on which is located one or more commercial

structures shall be subject to the limitations of subsection C of

this section;

8. Investment securities issued or guaranteed by the Federal

Home Loan Banks, Federal Home Loan Mortgage Corporation, the Federal

National Mortgage Association, the Government National Mortgage

Association, the Federal Agriculture Mortgage Association, or the

Federal Farm Credit Banks Funding Corporation;

9. Purchase and hold for its own account shares of stock of

small business investment companies in an aggregate amount not

exceeding five percent (5%) of the capital stock and surplus of the
e Corporation, the Federal

National Mortgage Association, the Government National Mortgage

Association, the Federal Agriculture Mortgage Association, or the

Federal Farm Credit Banks Funding Corporation;

9. Purchase and hold for its own account shares of stock of

small business investment companies in an aggregate amount not

exceeding five percent (5%) of the capital stock and surplus of the

bank, and receive and retain the benefits of the stock ownership,

including stock dividends;

10. Purchase and hold for its own account shares of stock of a

banker's bank set forth in Section 402.1 of this title, but in no

event shall the total amount of the stock held by the bank exceed

ten percent (10%) of the capital of the bank and in no event shall

the purchase of the stock result in the bank acquiring more than

five percent (5%) of any class of voting securities of the banker’s

bank; and

11. Stock of a Federal Home Loan Bank.

F. Mutual Funds.

1. A bank may invest for its own account in equity securities

of an investment company registered under the Investment Company Act

of 1940 and the Securities Act of 1933 if the portfolio of the

investment company consists wholly of investments in which the bank

could invest directly for its own account.

2. If the portfolio of an investment company described by

paragraph 1 of this subsection consists wholly of investments in

which the bank could invest directly without limitation under

subsection E of this section, the bank may invest in the investment

company without limitation.

3. If the portfolio of an investment company described by

subsection C of this section contains an investment or obligation

that is subject to the limits of Section 802 of this title, the bank

may invest in the investment company not more than an amount equal

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

4. A bank that invests in an investment company as provided by

this section shall periodically determine that its pro rata share of

any security in the portfolio of the investment company is not in

excess of applicable investment and lending limits by reason of

being combined with the bank's pro rata share of that security held

by all other investment companies in which the bank has invested and

with the bank's own direct investment and loan holdings.

G. Other Limitations. A bank may not purchase for its own

account, in any amount, paving, sewer or other special improvement

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obligations that are payable from the proceeds of special

assessments.

H. Assets shall not be carried above cost. With the exception

of securities held by the bank for sale, no bank or trust company

shall, except with the previous written consent of the Commissioner,

enter or at any time carry on its books any of its assets at a

valuation exceeding the actual cost to the bank or trust company.