{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-381.37","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-381.37","heading":"Capital - Deposit accounts - Liability","body":"A. A mutual association may raise capital in the form of\n\ndeposit accounts or shares for such fixed, minimum or indefinite\n\nperiods of time as are authorized by its bylaws or by regulations of\n\nthe State Banking Commissioner. Such deposit accounts shall all\n\nhave equal priority upon liquidation. A mutual association may\n\nissue such passbooks, certificates, and other evidence of deposit\n\naccounts as are now or hereafter so authorized. With the exception\n\nof forms now in use by existing associations, all such forms\n\nevidencing deposit accounts shall be promptly submitted to the\n\nCommissioner, or to the Director of the Office of Thrift\n\nSupervision, and the issuance of any such form shall be immediately\n\ndiscontinued in the event of disapproval. Unless otherwise provided\n\nby its bylaws, the total amount of deposit account liability of a\n\nmutual association is unlimited.\n\nB. A stock association may incur liabilities in the form of\n\ndeposit accounts for such fixed, minimum or indefinite periods of\n\ntime as are authorized by its bylaws or by regulations of the\n\nCommissioner. Such deposits shall all have equal priority upon\n\nliquidation. A stock association may issue such passbooks,\n\ncertificates and other evidence of deposits as are now or may\n\nhereafter be authorized for deposit associations. New or proposed\n\nforms evidencing deposit accounts shall be promptly submitted to the\n\nCommissioner and to the Director of the Office of Thrift\n\nSupervision, and the issuance of any such form shall be immediately\n\ndiscontinued in the event of disapproval. In stock associations,\n\nholders of deposit accounts shall participate first in all assets\n\nupon liquidation, but only to the extent of their deposit accounts.\n\nUnless otherwise provided by its bylaws, the total amount of deposit\n\naccount liability of a stock association is unlimited.","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":"3dc69dba27638e25f43587251f53be90c7adbee946ee775f02b9cbb587d76b3b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-381.36","next":"us-ok/okla.-stat.-tit.-18-18-381.38"},"notice":"GroundRules: Original legal text. Not legal advice."}