Okla. Stat. tit. 18, § 18-381.24a: Branch banking - Deposit limitation – Certificate -

Penalty.

A. Beginning on the effective date of this act, upon approval

of the State Banking Commissioner, any association shall be

authorized to establish and operate in this state, on real property

owned or leased by the association, an unlimited number of branches

by acquisition, de novo, or otherwise. Such branches may be fixed

or mobile, and any permissible function, business, power, or

activity of any kind of the association may be performed or engaged

in at such location. However, branches established by acquisition

shall be subject to the limitations as set forth in subsection B of

this section.

B. 1. It shall be unlawful for any association to acquire any

other association, federal association or bank in this state or any

portion of its assets if such acquisition would result in the

association having direct or indirect ownership or control of more

than fifteen percent (15%) of the aggregate deposits of all

financial institutions located in this state which have deposits

insured by the Federal Deposit Insurance Corporation as determined

by the Commissioner on the basis of the most recent reports of such

institutions to their supervisory authorities which are available at

the time of the proposed acquisition.

2. The deposit limitation provided for in this subsection shall

not apply to disallow an acquisition of a bank, association or

federal association if control results only by reason of ownership

or control of shares of such financial institution acquired directly

or indirectly:

a. in a good faith fiduciary capacity, except when such

shares are held for the benefit of the acquiring

association's shareholders, or

b. by an association in the regular course of securing or

collecting a debt previously contracted in good faith,

or

c. at the request of or in connection with the exercise

of regulatory authority for the purpose of preventing

imminent failure of the bank, association or federal

association or to protect the depositors thereof as

determined by the principal supervisory agency in its

sole discretion.

Provided, however, at the end of a period of five (5) years from the

date of acquisition, for the circumstances set forth in

subparagraphs b and c of this paragraph, the deposits of the

acquired bank or association or federal association shall be

included in computing the deposit limitation and if deposits are in

excess, appropriate reductions and disposition shall be made within

six (6) months to meet such limitations. Further, in the

circumstances set forth in subparagraph c of this paragraph, the

Commissioner and the Federal Deposit Insurance Corporation shall

give priority in authorizing any such acquisition to any acquiring

association whose total deposits do not exceed the deposit

limitation.

C. 1. No association shall be permitted to establish or

operate a branch except upon certificate issued by the Commissioner

or Office of Thrift Supervision.

2. The application for a certificate to establish, operate, or

relocate a branch of an association shall comply with the

regulations of the Commissioner.

D. The provisions of this section shall not be construed in

derogation or denial of the right to operate and maintain facilities

as provided for in Sections 381.24b, 381.24c and 381.24d of this

title.

E. A violation of any portion of this section, upon conviction,

shall be a misdemeanor punishable by a fine not exceeding Five

Hundred Dollars ($500.00). Each day's violation shall constitute a

separate offense.

F. Nothing contained in this section shall be construed to

limit the authority of federal savings associations to branch in

accordance with federal law and regulations.