{"data":{"id":"us-ok/okla.-stat.-tit.-36-36-5123.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 36, § 36-5123.1","heading":"Qualified United States financial institution defined","body":"A. For purposes of paragraph 3 of Section 5123 of Title 36 of\n\nthe Oklahoma Statutes, a \"qualified United States financial\n\ninstitution\" means an institution that:\n\n1. Is organized or, in case of a United States office of a\n\nforeign banking organization, licensed under the laws of the United\n\nStates or any state thereof;\n\n2. Is regulated, supervised and examined by United States\n\nfederal or state authorities having regulatory authority over banks\n\nand trust companies; and\n\n3. Has been determined by either the Insurance Commissioner or\n\nthe Securities Valuation Office of the National Association of\n\nInsurance Commissioners to meet such standards of financial\n\ncondition and standing as are considered necessary and appropriate\n\nto regulate the quality of financial institutions whose letters of\n\ncredit will be acceptable to the Commissioner.\n\nB. For purposes of the provisions of the Credit for Reinsurance\n\nAct specifying those institutions that are eligible to act as a\n\nfiduciary of a trust, a \"qualified United States financial\n\ninstitution\" means an institution that:\n\n1. Is organized or, in the case of a United States branch or\n\nagency office of a foreign banking organization, licensed under the\n\nlaws of the United States or any state thereof and has been granted\n\nauthority to operate with fiduciary powers; and\n\n2. Is regulated, supervised and examined by federal or state\n\nauthorities having regulatory authority over banks and trust\n\ncompanies.","path":["OK Code","Title 36"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os36.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"9edf19b6217393b61088b93ebb8f05ca87b885fb2a66599c1cf41d6619134e9c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-36-36-5123","next":"us-ok/okla.-stat.-tit.-36-36-5124"},"notice":"GroundRules: Original legal text. Not legal advice."}