{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-381.11","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-381.11","heading":"Supervision by State Banking Commissioner – Additional","body":"powers – Orders – Notice and hearing – Temporary orders –\n\nCooperative agreements - Opinions.\n\nA. The State Banking Commissioner shall have general\n\nsupervision of associations, in addition to the authority set forth\n\nin other sections of this act. In addition to other powers\n\nconferred by this act, the Commissioner shall have the power to\n\norder an association, a holding company of an association,\n\nshareholder, officer, director, or employee to:\n\n1. Maintain an accounting system in accordance with such rules\n\nas may be prescribed by the Commissioner; provided, the accounting\n\nsystem required shall have due regard to the size of the\n\nassociation;\n\n2. Observe methods and standards which the Commissioner may\n\nprescribe for determining the value of various types of assets;\n\n3. Charge off the whole or part of an asset which at the time\n\nof the Commissioner's action could not lawfully be acquired;\n\n4. Write down an asset to its market value;\n\n5. Record liens and other interests in property;\n\n6. Obtain a financial statement from a borrower to the extent\n\nthe association can do so;\n\n7. Obtain insurance against damage to real estate taken as\n\nsecurity;\n\n8. Search, or obtain insurance for, the title to real estate\n\ntaken as security;\n\n9. Maintain adequate insurance against such other risks as the\n\nCommissioner may determine to be necessary and appropriate for the\n\nprotection of depositors and the public; and\n\n10. Cease and desist from engaging in any act or transaction,\n\nor doing any act in furtherance thereof, which would constitute a\n\nviolation of the provisions of this act, applicable federal laws,\n\nthe applicable laws of another state, or a lawful regulation issued\n\nthereunder, or to cease and desist from engaging in any unsafe or\n\nunsound practice.\n\nB. Before issuing an order provided for in subsection A of this\n\nsection, the Commissioner shall give reasonable notice and\n\nopportunity for a hearing. However, if the Commissioner makes\n\nwritten findings of fact that the protection of depositors will be\n\nharmed by delay in issuing an order provided for in subsection A of\n\nthis section, the Commissioner may issue a temporary order pending\n\nthe hearing on the order provided for in subsection A of this\n\nsection. The temporary order shall remain in effect until three (3)\n\nbusiness days after the hearing on the order provided for in\n\nsubsection A of this section and shall become final if the\n\nassociation subject to the order fails within fifteen (15) days\n\nafter the receipt of the order to request a hearing to determine\n\nwhether the temporary order should be modified, vacated, or become\n\nfinal. If a hearing on the temporary order is not held upon written\n\nrequest, the temporary order shall dissolve, and the order provided\n\nfor in subsection A of this section shall not be issued except upon\n\nreasonable notice and opportunity for hearing.\n\nC. The Commissioner may enter into cooperative, coordinating,\n\nand information-sharing agreements with any other supervisory\n\nagencies or any organization affiliated with or representing one or\n\nmore supervisory agencies with respect to the periodic examination\n\nor other supervision of any association, bank holding company, or\n\nbranch in this state or an out-of-state association, or any branch\n\nof an Oklahoma-chartered association in any other state, and the\n\nCommissioner may accept such reports of examination and reports of\n\ninvestigation in lieu of conducting the Commissioner's own\n\nexaminations or investigations.\n\nD. The Commissioner may enter into cooperative agreements with\n\nother regulatory agencies to facilitate the regulation of\n\nassociations and holding companies doing business in this state.\n\nThe Commissioner may accept reports of examinations and other\n\nrecords from such other agencies in lieu of the Oklahoma State\n\nBanking Department conducting the examinations of associations\ns or investigations.\n\nD. The Commissioner may enter into cooperative agreements with\n\nother regulatory agencies to facilitate the regulation of\n\nassociations and holding companies doing business in this state.\n\nThe Commissioner may accept reports of examinations and other\n\nrecords from such other agencies in lieu of the Oklahoma State\n\nBanking Department conducting the examinations of associations\n\ncontrolled by out-of-state holding companies. The Commissioner may\n\ntake any action jointly with other regulatory agencies having\n\nconcurrent jurisdiction over associations and holding companies or\n\nmay take such actions independently in order to carry out the\n\nCommissioner's responsibilities.\n\nE. 1. The Commissioner may issue interpretive statements\n\ncontaining matters of general policy for the guidance of\n\nassociations subject to this act. The Commissioner may amend or\n\nrepeal an interpretative statement by issuing an amended statement\n\nor notice of repeal of a statement and shall provide notice thereof\n\nand make it available upon request to all associations chartered\n\nunder this act.\n\n2. The Commissioner may issue opinions in response to specific\n\nrequests from members of the public or the association industry\n\ndirectly or through the Deputy State Banking Commissioner or the\n\nattorneys of the Department. The Commissioner may amend or repeal\n\nan opinion by issuing an amended statement or notice of repeal of an\n\nopinion and shall provide notice thereof and make it available upon\n\nrequest to all associations chartered under this act. However, the\n\nrequesting party may rely on the original opinion if:\n\na. all material facts were originally disclosed to the\n\nCommissioner,\n\nb. considerations of safety and soundness of the affected\n\nassociation are not implicated with respect to further\n\nand prospective reliance on the original opinion, and\n\nc. the text and interpretation of relevant governing\n\nprovisions of this act have not been changed by\n\nlegislative or judicial action.\n\n3. An interpretive statement or opinion issued under this\n\nsection does not have the force of law and is not a rule.\n\nF. Upon failure of such association to comply with the order or\n\nrequirements of the Commissioner, the Commissioner may suspend the\n\ncertificate of authority to transact business of such association,\n\nor the Commissioner may place the association in receivership in the\n\nmanner provided by this act.","path":["OK Code","Title 18"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os18.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"6d41a39bb999a98027ea2049be8069f087e449592fcc3ec31f7ecf5955e9dc97","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-381.10","next":"us-ok/okla.-stat.-tit.-18-18-381.13"},"notice":"GroundRules: Original legal text. Not legal advice."}