Okla. Stat. tit. 71, § 71-1-613

Sharing of data - Confidentiality.

A. A supervisory agency shall make available to a requesting

agency any data obtained or generated by, and in the possession of,

the supervisory agency and that the requesting agency deems

necessary for review in connection with the supervision of any

person over which the requesting agency has direct supervisory

authority. However, the requested data must relate to the person,

or an affiliate of the person, over which the requesting agency has

direct supervisory authority. An agency has direct supervisory

authority over a person if such authority is specifically provided

by statute, or the agency granted the person's charter, license, or

registration, or otherwise granted permission for the person to

conduct its business in this state.

B. When a requesting agency and a federal regulatory agency or

self-regulatory association have concurrent jurisdiction over a

person, a requesting agency may share with such agency or

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association data received from a supervisory agency. However, the

federal regulatory agency or self-regulatory association must return

such shared data to the requesting agency unless the federal

regulatory agency or self-regulatory association has obtained

approval from the supervisory agency to retain the data. The term

"federal regulatory agency" shall not include law enforcement

agencies.

C. 1. Notwithstanding any other statute, rule, or policy

governing or relating to records of the requesting agency, all data

received by a requesting agency from a supervisory agency shall be

and remain confidential and not open to public inspection, subpoena,

or any other form of disclosure while in the possession of the

requesting agency. Any request for inspection, subpoena, or other

form of disclosure shall be directed at the supervisory agency from

which the data originated and disclosure thereof shall be subject to

the laws, rules, and policies governing or relating to records of

the supervisory agency.

2. The provisions of data by a supervisory agency to a

requesting agency under this section shall not constitute a waiver

of, or otherwise affect, any privilege or claim of confidentiality

that a supervisory agency may claim with respect to such data under

any federal laws or laws of this state.

D. A supervisory agency is not required to share original

documents with a requesting agency. A requesting agency shall

reimburse the supervisory agency for costs associated with providing

copies of data to the requesting agency.

E. Nothing in the Oklahoma Financial Privacy Act shall prohibit

the sharing of data as described in this section. Additionally,

neither a supervisory agency nor requesting agency shall be required

to follow any procedure described in the Oklahoma Financial Privacy

Act when sharing data as described in this section.

F. As used in this section:

1. "Affiliate" shall mean any person that controls, is

controlled by, or is under common control with another person. A

person shall be deemed to have "control" over any person if the

person:

a. directly or indirectly or acting through one or more

other persons owns, controls, or has power to vote ten

percent (10%) or more of any class of voting

securities of the other person, or

b. the person controls in any manner the election,

appointment, or designation of a majority of the

directors, trustees, or other managing officers of the

person;

2. "Data" shall mean copies of any documents, reports,

examination reports, letters, correspondence, orders, stipulations,

memorandums of understanding, agreements, or any other records not

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open for public inspection generated by a supervisory agency or

obtained by a supervisory agency from the person it supervises,

whether in paper or electronic format. However, "data" shall not
cuments, reports,

examination reports, letters, correspondence, orders, stipulations,

memorandums of understanding, agreements, or any other records not

Oklahoma Statutes - Title 71. Securities Page 90

open for public inspection generated by a supervisory agency or

obtained by a supervisory agency from the person it supervises,

whether in paper or electronic format. However, "data" shall not

include records that a requesting agency receives from a supervisory

agency pursuant to this section;

3. "Requesting agency" means, as applicable, the Oklahoma State

Banking Department, the Oklahoma Insurance Department, or the

Oklahoma Department of Securities, that requests from a supervisory

agency data relating to a person over which the requesting agency

does not have direct supervisory authority;

4. "Supervision" shall mean any examination, assessment, order,

stipulation, agreement, report, memorandum of understanding, or

other regulatory matter or process that a requesting agency is

authorized to perform in relation to a person; and

5. "Supervisory agency" shall mean, as applicable, the Oklahoma

State Banking Department, the Oklahoma Insurance Department, or the

Oklahoma Department of Securities, that maintains data relating to a

person over which the agency has direct supervisory authority.