Okla. Stat. tit. 6, § 6-2003: Investigation and report by Bank Commissioner -

Certificate of approval - Certificate of incorporation.

After receipt of an application such as referred to in Section

2002 of this title, the Bank Commissioner shall cause an appropriate

investigation to be made for the purpose of determining whether the

application, the certificate of incorporation and the bylaws conform

to the provisions of the laws of the State of Oklahoma. If the

application, the certificate of incorporation and the bylaws conform

to the provisions of this act, and the Bank Commissioner is

satisfied that:

(1) the characteristics of the common bond of the field of

membership are favorable to the economic viability of the proposed

credit union and will not materially and substantially overlap the

field of membership of existing credit unions in the territory in

which it will operate; and

(2) the reputation, character, financial responsibility and

business experience of the initial board of directors and

supervisory committee provide assurance that the credit union's

affairs will be properly administered,

the Bank Commissioner shall, within forty-five (45) days after

receipt of the application, submit a report of his investigation to

the State Credit Union Board, together with his recommendation to

the State Credit Union Board that the application be approved or

disapproved. The State Credit Union Board shall, within sixty (60)

days after the receipt of the report and recommendation of the Bank

Commissioner, cause a certificate of approval to be issued or cause

written notice to applicants of disapproval. Thereafter, the

certificate of incorporation with the certificate of approval of the

State Credit Union Board attached shall be filed in the office of

the Secretary of State and a copy thereof, duly certified to by the

Secretary of State, shall be filed with the State Credit Union

Board. A copy of the certificate of incorporation and bylaws as

approved shall be returned to the incorporators. The Secretary of

State shall issue a certificate in the form provided by law for

other corporations, and the existence of said credit union as a

corporation shall date from the issuance of the certificate of

incorporation by the Secretary of State, from which time it shall

have and may exercise the powers conferred upon corporations

generally, except as limited or modified by the laws of the State of

Oklahoma.