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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 6, § 6-1021: Liquidation, dissolution and reorganization of trust

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Where this section sits in the code
  1. OK Code
  2. Title 6

companies.

A. A trust company may be liquidated, dissolved and

reorganized, for the reasons, in the manner and with the procedures

as set forth in Article XII of this act, as such article would be

applicable to trust companies, as if trust company were included in

the article, with the same force and effect as if named where the

word "bank" appears.

B. Voluntary liquidation and dissolution. A trust company may

be voluntarily liquidated, as a state bank may be voluntarily

liquidated, as provided in Section 1201 of this title.

C. Involuntary liquidation by Commissioner - Reorganization.

Except as otherwise provided in this Code, only the Commissioner may

take possession of a trust company and proceed in involuntary

liquidation or reorganization, in the same manner, for the same

reasons, and with the same procedures as provided in Section 1202 of

this title, in addition to the other provisions contained in this

article affecting the regulation of trust companies.

D. Reorganization. The reorganization of a trust company shall

follow the standard manner and procedures contained in Section 1203

of this title, which applies to banks, where the same is applicable

to trust companies.

E. Liquidation by Commissioner - Procedure. In liquidating a

trust company, the form, manner and procedures shall follow, where

applicable, the same form, manner and procedure as for banks

contained in Section 1204 of this title.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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