{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-381.24a","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-381.24a","heading":"Branch banking - Deposit limitation – Certificate -","body":"Penalty.\n\nA. Beginning on the effective date of this act, upon approval\n\nof the State Banking Commissioner, any association shall be\n\nauthorized to establish and operate in this state, on real property\n\nowned or leased by the association, an unlimited number of branches\n\nby acquisition, de novo, or otherwise. Such branches may be fixed\n\nor mobile, and any permissible function, business, power, or\n\nactivity of any kind of the association may be performed or engaged\n\nin at such location. However, branches established by acquisition\n\nshall be subject to the limitations as set forth in subsection B of\n\nthis section.\n\nB. 1. It shall be unlawful for any association to acquire any\n\nother association, federal association or bank in this state or any\n\nportion of its assets if such acquisition would result in the\n\nassociation having direct or indirect ownership or control of more\n\nthan fifteen percent (15%) of the aggregate deposits of all\n\nfinancial institutions located in this state which have deposits\n\ninsured by the Federal Deposit Insurance Corporation as determined\n\nby the Commissioner on the basis of the most recent reports of such\n\ninstitutions to their supervisory authorities which are available at\n\nthe time of the proposed acquisition.\n\n2. The deposit limitation provided for in this subsection shall\n\nnot apply to disallow an acquisition of a bank, association or\n\nfederal association if control results only by reason of ownership\n\nor control of shares of such financial institution acquired directly\n\nor indirectly:\n\na. in a good faith fiduciary capacity, except when such\n\nshares are held for the benefit of the acquiring\n\nassociation's shareholders, or\n\nb. by an association in the regular course of securing or\n\ncollecting a debt previously contracted in good faith,\n\nor\n\nc. at the request of or in connection with the exercise\n\nof regulatory authority for the purpose of preventing\n\nimminent failure of the bank, association or federal\n\nassociation or to protect the depositors thereof as\n\ndetermined by the principal supervisory agency in its\n\nsole discretion.\n\nProvided, however, at the end of a period of five (5) years from the\n\ndate of acquisition, for the circumstances set forth in\n\nsubparagraphs b and c of this paragraph, the deposits of the\n\nacquired bank or association or federal association shall be\n\nincluded in computing the deposit limitation and if deposits are in\n\nexcess, appropriate reductions and disposition shall be made within\n\nsix (6) months to meet such limitations. Further, in the\n\ncircumstances set forth in subparagraph c of this paragraph, the\n\nCommissioner and the Federal Deposit Insurance Corporation shall\n\ngive priority in authorizing any such acquisition to any acquiring\n\nassociation whose total deposits do not exceed the deposit\n\nlimitation.\n\nC. 1. No association shall be permitted to establish or\n\noperate a branch except upon certificate issued by the Commissioner\n\nor Office of Thrift Supervision.\n\n2. The application for a certificate to establish, operate, or\n\nrelocate a branch of an association shall comply with the\n\nregulations of the Commissioner.\n\nD. The provisions of this section shall not be construed in\n\nderogation or denial of the right to operate and maintain facilities\n\nas provided for in Sections 381.24b, 381.24c and 381.24d of this\n\ntitle.\n\nE. A violation of any portion of this section, upon conviction,\n\nshall be a misdemeanor punishable by a fine not exceeding Five\n\nHundred Dollars ($500.00). Each day's violation shall constitute a\n\nseparate offense.\n\nF. Nothing contained in this section shall be construed to\n\nlimit the authority of federal savings associations to branch in\n\naccordance with federal law and regulations.","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":"e46bee6b2d5fde7fd418840258b43ebe56177ee58d0b12bfe286646b469e1d5f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-381.24","next":"us-ok/okla.-stat.-tit.-18-18-381.24b"},"notice":"GroundRules: Original legal text. Not legal advice."}