{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-381.7a","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-381.7a","heading":"Examinations – Reports by associations - Penalty","body":"A. 1. The State Banking Commissioner shall, at least every\n\neighteen (18) months or as often as the Commissioner deems\n\nadvisable, examine every association, and for the purpose of making\n\nsuch examinations and special examinations, shall have full access\n\nto all books, papers, securities, records and other sources of\n\ninformation under the control of the association. The Commissioner\n\nshall make and file in the office of the Commissioner a report in\n\ndetail disclosing the results of such examination. The Commissioner\n\nshall mail a copy of the report to the association examined.\n\nHowever, the Commissioner may accept, in lieu of any three\n\nconsecutive association examinations, an examination of the\n\nassociation by the Office of Thrift Supervision, if conducted within\n\na reasonable period of time, and if a copy of the examination is\n\nfurnished to the Commissioner.\n\n2. The Commissioner may also accept any other report relative\n\nto the condition of an association, which shall include joint or\n\nconcurrent examinations that may be obtained by the authorities\n\nwithin a reasonable period, in lieu of such report authorized by the\n\nlaws of this state to be required of such association by the\n\nOklahoma State Banking Department, provided a copy of such report is\n\nfurnished to the Commissioner.\n\n3. The Commissioner may enter into cooperative, coordinating\n\nand information-sharing agreements with the Federal Deposit\n\nInsurance Corporation, the Federal Home Loan Bank Board, or the\n\nOffice of Thrift Supervision with respect to the periodic\n\nexamination or other supervision of any association.\n\n4. When requested in writing upon authority of the board of\n\ndirectors or stockholders owning a majority of the capital stock of\n\nany association, the Commissioner shall, if in the opinion of the\n\nCommissioner such examination is desirable, make or cause to be made\n\nan examination into the affairs and conditions of such association.\n\nFor such examination, the association shall pay the same fees as\n\nprovided for in subsection D of Section 381.15 of this title.\n\nB. Every association shall make two reports each year.\n\nAssociations may be required to make more reports if called upon by\n\nthe Commissioner. All reports shall be according to the form which\n\nmay be prescribed by the Commissioner. The reports shall be\n\nverified by the oath or affirmation of the president, cashier or\n\nsecretary of such association and attested by the signatures of at\n\nleast two of the directors. Each report shall exhibit, in detail\n\nand under appropriate headings, the resources and liabilities of the\n\nassociation at the close of business on any last day specified by\n\nthe Commissioner, shall be transmitted to the Commissioner within\n\nthirty (30) calendar days after the call date, and may, at the\n\noption of the association, be published at the expense of the\n\nassociation in the same form in which it is presented to the\n\nCommissioner. The Commissioner shall also have the power to request\n\nspecial reports from any association whenever, in the judgment of\n\nthe Commissioner, such reports are necessary in order to gain a full\n\nand complete knowledge of its condition. However, the reports\n\nauthorized and required by this section, to be requested by the\n\nCommissioner, shall relate to a date prior to the date of such\n\nrequest and such prior date shall be specified in the request.\n\nAdditionally, the Commissioner may accept, in lieu of the reports\n\nreferred to in this section, reports made by associations that are\n\nmembers of the Federal Home Loan Bank System on forms provided by\n\nthe Federal Home Loan Bank System.\n\nC. Every association which fails to make and transmit any\n\nreport required pursuant to this section shall be subject to a\n\npenalty, at the discretion of the Commissioner, not to exceed Fifty\n\nDollars ($50.00) for each day, after the specified period, that the\neports made by associations that are\n\nmembers of the Federal Home Loan Bank System on forms provided by\n\nthe Federal Home Loan Bank System.\n\nC. Every association which fails to make and transmit any\n\nreport required pursuant to this section shall be subject to a\n\npenalty, at the discretion of the Commissioner, not to exceed Fifty\n\nDollars ($50.00) for each day, after the specified period, that the\n\nassociation delays to make and transmit its report. Whenever any\n\nassociation delays or refuses to pay the penalty herein imposed for\n\na failure to make and transmit a report, the Commissioner is hereby\n\nauthorized to maintain an action in the name of the state against\n\nthe delinquent association for the recovery of such penalty, and all\n\nsums collected by such action shall be paid into the State Treasury\n\nto be credited to the General Revenue Fund.\n\nD. The Commissioner may provide a form for the examinations and\n\nreports set forth in this section. All examinations and reports\n\nreceived by the Commissioner shall be preserved in the office of the\n\nCommissioner for a period of not less than five (5) years. The\n\npreservation may be in an electronic format, and paper copies or\n\noriginals need not be retained. Such examination, reports and all\n\nother records of operating associations in the Department are to be\n\nkept confidential, except as permitted 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":"69631b61f05d0efc323c54a9cda2869a4ed418a189455b873a268e11d77fd7db","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-381.79","next":"us-ok/okla.-stat.-tit.-18-18-381.80"},"notice":"GroundRules: Original legal text. Not legal advice."}