Okla. Stat. tit. 18, § 18-381.19: Order – Certificate of authority

The State Banking Commissioner shall act upon and issue an order

granting or denying each application for a certificate of authority.

If the Commissioner finds that the application should be granted,

the Commissioner shall designate the amount of deposit accounts

required and fix a reasonable time within which the funds subscribed

may be placed in escrow in a bank or trust company approved by the

Commissioner, to be delivered to the association after incorporation

or returned to the subscribers if incorporation is not completed.

The Commissioner may also require the incorporators to advance funds

necessary to pay organizational expenses and other expenses for

starting business, such advances to be repaid by the association

after its incorporation and the granting of its certificate of

authority, in the case of a stock association, or after its income

is sufficient to meet reserve requirements, in the case of a mutual

association, and further, in the case of a mutual association, to

pay reasonable earnings on the deposit accounts of the association.

If and when all requirements are met, a certificate of authority

shall be issued by the Commissioner. The Secretary of State shall

file the approved certificate of incorporation upon receipt of the

incorporation fee. If the deposit accounts of the association are

to be insured, approval shall be contingent upon the making, by the

proposed association, of a bona fide application for insurance of

accounts and deposits by the Federal Deposit Insurance Corporation

and upon approval of such application by the Federal Deposit

Insurance Corporation.