{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-381.19","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-381.19","heading":"Order – Certificate of authority","body":"The State Banking Commissioner shall act upon and issue an order\n\ngranting or denying each application for a certificate of authority.\n\nIf the Commissioner finds that the application should be granted,\n\nthe Commissioner shall designate the amount of deposit accounts\n\nrequired and fix a reasonable time within which the funds subscribed\n\nmay be placed in escrow in a bank or trust company approved by the\n\nCommissioner, to be delivered to the association after incorporation\n\nor returned to the subscribers if incorporation is not completed.\n\nThe Commissioner may also require the incorporators to advance funds\n\nnecessary to pay organizational expenses and other expenses for\n\nstarting business, such advances to be repaid by the association\n\nafter its incorporation and the granting of its certificate of\n\nauthority, in the case of a stock association, or after its income\n\nis sufficient to meet reserve requirements, in the case of a mutual\n\nassociation, and further, in the case of a mutual association, to\n\npay reasonable earnings on the deposit accounts of the association.\n\nIf and when all requirements are met, a certificate of authority\n\nshall be issued by the Commissioner. The Secretary of State shall\n\nfile the approved certificate of incorporation upon receipt of the\n\nincorporation fee. If the deposit accounts of the association are\n\nto be insured, approval shall be contingent upon the making, by the\n\nproposed association, of a bona fide application for insurance of\n\naccounts and deposits by the Federal Deposit Insurance Corporation\n\nand upon approval of such application by the Federal Deposit\n\nInsurance Corporation.","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":"b6df1a24c8f32eb64079bb2d904dd5e1cd59ae1a1463ff13e3376849b801b67b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-381.18","next":"us-ok/okla.-stat.-tit.-18-18-381.2"},"notice":"GroundRules: Original legal text. Not legal advice."}