{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-381.59","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-381.59","heading":"Conversion into federal association","body":"At an annual meeting or at any special meeting of the members or\n\nstockholders called to consider such action, any association may\n\nconvert itself into a federal association pursuant to the laws of\n\nthe United States, as now or hereafter amended, upon a majority vote\n\nof the outstanding stock entitled to vote thereon or upon a majority\n\nvote of the total number of votes of the members present in person\n\nor by proxy. There shall be filed with the State Banking\n\nCommissioner a copy of the charter issued to such federal\n\nassociation by the Director of the Office of Thrift Supervision or a\n\ncertificate showing the organization of such association as a\n\nfederal association, certified by the Director of the Office of\n\nThrift Supervision. Upon the grant to any association of a charter\n\nby the Director of the Office of Thrift Supervision, the association\n\nreceiving such charter shall cease to be an association incorporated\n\nby this state. Upon conversion of any association into a federal\n\nassociation, such federal association shall be deemed to be a\n\ncontinuation of the entity of the association so converted and all\n\nproperty of the converted association, including its rights, titles,\n\nand interests in and to all property of whatever kind, whether real,\n\npersonal, or mixed, and things in action, and every right,\n\nprivilege, interest, and asset of any conceivable value or benefit\n\nthen existing or pertaining to it, or which would inure to it, shall\n\nimmediately by operation of law and without any conveyance or\n\ntransfer and without any further act or deed remain and be vested in\n\nand continue and be the property of such federal association into\n\nwhich the state association has converted itself, and such federal\n\nassociation shall have, hold and enjoy the same in its own right as\n\nfully and to the same extent as the same was possessed, held, and\n\nenjoyed by the converting association, and such federal association\n\nas of the time of the taking effect of such conversion shall\n\ncontinue to have and succeed to all the rights, obligations and\n\nrelations of the converting association. All pending actions and\n\nother judicial proceedings to which the converting state association\n\nis a party shall not be deemed to have abated or to have\n\ndiscontinued by reason of such conversion, but may be prosecuted to\n\nfinal judgment, order, or decree in the same manner as if such\n\nconversion into such federal association had not been made and such\n\nfederal association resulting from such conversion may continue such\n\naction in its corporate name as a federal association, and any\n\njudgment, order or decree may be rendered for or against it which\n\nmight have been rendered for or against the converting state\n\nassociation theretofore involved in such judicial proceedings.","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":"8ee34617657559329a88115e9c681bd6a6acf74b443b6cc6201dcb19570102cf","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-381.58","next":"us-ok/okla.-stat.-tit.-18-18-381.60"},"notice":"GroundRules: Original legal text. Not legal advice."}