Okla. Stat. tit. 6, § 6-1612: Conversion from a federal agency to a state chartered

agency and the reverse.

Conversion from a federal agency to a state chartered agency and

the reverse.

A. An international banking corporation desiring to convert its

existing federal agency or representative office into a state

chartered agency or representative office shall submit to the Board

an application, on a form the Board shall provide, accompanied by

nonrefundable application fees as may be set by the Board. An

examination and investigation may be conducted to the extent

determined necessary by the Board. The cost of any such examination

shall be paid by the applicant.

B. Nothing in the laws of this state shall restrict the right

of a state chartered agency or representative office which has paid

its fee to convert to a federal agency or representative office upon

compliance with the laws of the United States. Upon completion of

any such conversion, the state charter shall automatically terminate

and shall be surrendered to the Board.

C. An international banking corporation desiring to convert its

existing state chartered representative office to a state chartered

agency or its existing state chartered agency to a state chartered

representative office shall submit to the Board an application on a

form the Board shall provide. An application to convert to an

agency shall be accompanied by all of the information and documents

that the state requires applicants for an agency to submit and by a

nonrefundable application fee in an amount to be set by rule of the

Board. A nonrefundable application fee in an amount to be set by

rule of the Board shall accompany an application to convert to a

representative office.

D. An international banking corporation desiring to convert

from a federal agency or representative office into a state

chartered agency or representative office, or from its existing

state chartered representative office to an agency, shall be

required to meet the minimum criteria of the particular type of

state chartered institution into which it is converting as well as

any other criteria or conditions required by rule or order of the

Board.