{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-102","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-102","heading":"Definitions","body":"As used in the Banking Code unless the context otherwise\n\nrequires:\n\n1. \"Acquisition\" or \"acquire\" means any act or action with\n\nrespect to the ownership or control of a bank or the purchase of its\n\nassets and the assumption of its liabilities which would require the\n\napproval of the Federal Deposit Insurance Corporation, the Office of\n\nthe Comptroller of the Currency, the Board of Governors of the\n\nFederal Reserve System or other supervisory authority having\n\njurisdiction and approval authority over the bank;\n\n2. \"Action\" in the sense of a judicial proceeding includes\n\nrecoupment, counterclaim, third-party claims, cross claims, setoff,\n\nsuit in equity, arbitration and any other proceedings in which\n\nrights are determined;\n\n3. \"Bank\" means any bank authorized and chartered by the laws\n\nof this state to engage in the banking business, or any bank\n\nchartered by the office of the Comptroller of the Currency with its\n\nmain office in this state;\n\n4. \"Banking company\" means any bank;\n\n5. \"Bank holding company\" means any Oklahoma corporation which\n\ndirectly or indirectly owns or controls at least one bank or out-of-\n\nstate bank as defined in this section;\n\n6. \"Board\" when used with an initial capital letter means the\n\nBanking Board of this state;\n\n7. \"Branch bank\" means any place of business separated from the\n\nmain office of a bank at which deposits are received, or checks paid\n\nor money lent;\n\n8. \"Capital\" shall include the paid-in common capital stock\n\naccount, preferred stock account, surplus account, undivided profits\n\naccount, capital reserves (other than contingency reserves),\n\nallowance for possible loan losses and mandatory convertible\n\ninstruments that are convertible into common stock. \"Capital\" shall\n\nalso include all other approved subordinated notes and debentures,\n\nhaving an original weighted average maturity of at least seven (7)\n\nyears, to the extent their maturity date exceeds five (5) years. As\n\nsuch notes and debentures approach maturity of less than five (5)\n\nyears, they shall be considered \"capital\" in proportion to their\n\nyears to maturity as it bears to five (5) years;\n\n9. \"Commissioner\" means the State Banking Commissioner\n\nappointed and serving pursuant to this act, who shall be the\n\nCommissioner of Banking and who shall administer and enforce the\n\napplicable provisions of this act;\n\n10. \"Community\" means a city, town or incorporated village of\n\nthis state, or a trade area in this state in unincorporated\n\nterritory;\n\n11. \"Company\" means any corporation, association, partnership,\n\nbusiness trust or similar organization, but shall not include any\n\ncorporation, the majority of the shares of which are owned by the\n\nUnited States or by any state;\n\n12. \"Compliance review committee\" means:\n\na. an audit, loan review or compliance committee\n\nappointed by the Board of Directors of an insured\n\ndepository institution, or\n\nb. any other person to the extent the person acts in an\n\ninvestigatory capacity at the direction of a\n\ncompliance review committee;\n\n13. \"Compliance review documents\" means documents prepared for\n\nor created by a compliance review committee;\n\n14. \"Confusingly similar name\" means:\n\na. as applied to the name of any bank, a name which is\n\nidentical to that of any other bank located within\n\nthis state, or a name which:\n\n(1) contains one or more of the following words with\n\nor without the words \"State,\" \"National,\" or\n\n\"Trust\": American, Central, Citizens, City,\n\nCommerce, Commercial, Community, Exchange,\n\nFarmers \u0026 Merchants, First, Guaranty, Oklahoma,\n\nPeoples, Security or United,\n\n(2) does not contain a geographical name (other than\n\n\"Oklahoma\") descriptive of the immediate location\n\nof the bank (street, town, city, county or other\n\nlocal geographical name),\n\n(3) does not contain other unique or clearly\n\ndistinguished words or marks, and\nitizens, City,\n\nCommerce, Commercial, Community, Exchange,\n\nFarmers \u0026 Merchants, First, Guaranty, Oklahoma,\n\nPeoples, Security or United,\n\n(2) does not contain a geographical name (other than\n\n\"Oklahoma\") descriptive of the immediate location\n\nof the bank (street, town, city, county or other\n\nlocal geographical name),\n\n(3) does not contain other unique or clearly\n\ndistinguished words or marks, and\n\n(4) is not a federally registered trade name,\n\ntrademark or service mark owned by or licensed to\n\nthe particular bank,\n\nb. as applied to the name of any person not a bank, a\n\nname which is confusingly similar in spelling or\n\nwording or sound to the name of any bank located\n\nanywhere within this state, if such name would tend to\n\nsuggest falsely to the public that the person is a\n\nbank or is affiliated with the bank, directly or\n\nindirectly. However, nothing contained in this\n\nsubsection shall prohibit the use of a similar name by\n\na corporation which is in a relationship to the bank\n\nof parent, subsidiary, brother-sister corporation or\n\nother commonly controlled company, or\n\nc. notwithstanding anything to the contrary in\n\nsubparagraph a or b of this paragraph, the name or\n\nshortened name of a bank shall not be considered\n\nconfusingly similar when used in conjunction with a\n\nfederally registered trademark or service mark owned\n\nby or licensed to the particular bank. Proof of\n\nownership or license of a federally registered mark\n\nmust be provided to the Banking Department.\n\nThe Board shall promulgate rules which govern the use of\n\n\"confusingly similar names\" as defined in this paragraph;\n\n15. \"Consumer banking electronic facility\" means any electronic\n\ndevice owned, operated, leased by or on the behalf of a bank,\n\nsavings association, or credit union other than a telephone or modem\n\noperated by a customer of a depository institution, to which a\n\nperson may initiate an electronic fund transfer. The term includes\n\nwithout limitations, a point-of-sale terminal, automatic teller\n\nmachines, automated loan machines, video banking centers, or any\n\nother similar electronic devices;\n\n16. \"Continuing bank\" means a merging bank the charter of which\n\nbecomes the charter of the resulting bank;\n\n17. \"Control\" means control as such term is defined under the\n\nFederal Bank Holding Company Act of 1956, as amended, 12 U.S.C.,\n\nSection 1841;\n\n18. \"Converting bank\" means a bank converting from a state to a\n\nnational bank, or the reverse;\n\n19. \"Court\" means a court of competent jurisdiction;\n\n20. \"Department\" means the Oklahoma State Banking Department\n\ncreated by this Code;\n\n21. \"Deposits\" means all demand, time and savings deposits of\n\nindividuals, partnerships, corporations, the United States and\n\nstates and political subdivisions of the United States, deposits of\n\nbanks, foreign governments, institutions, deposits held by foreign\n\nbanking offices or corporations organized pursuant to 12 U.S.C.,\n\nSections 601 through 604a, or Sections 611 through 631, as amended.\n\nDeterminations of deposits shall be made by the Commissioner by\n\nreference to regulatory reports of condition or similar reports\n\nfiled by banks or savings associations with state or federal\n\nregulatory agencies;\n\n22. \"Emergency\" means any condition or occurrence which may\n\ninterfere physically with the conduct of normal business operations\n\nat one or more or all of the offices of a bank or an out-of-state\n\nbank, or which poses an imminent or existing threat to the safety or\n\nsecurity of persons or property, or both. Without limiting the\n\ngenerality of the foregoing, an emergency may arise as a result of\n\nany one or more of the following: fires; floods; earthquakes;\n\nhurricanes; wind, rain or snow storms; labor disputes and strikes;\n\npower failures; transportation failures; interruptions of\n\ncommunication facilities; shortages of fuel, housing, food,\nto the safety or\n\nsecurity of persons or property, or both. Without limiting the\n\ngenerality of the foregoing, an emergency may arise as a result of\n\nany one or more of the following: fires; floods; earthquakes;\n\nhurricanes; wind, rain or snow storms; labor disputes and strikes;\n\npower failures; transportation failures; interruptions of\n\ncommunication facilities; shortages of fuel, housing, food,\n\ntransportation or labor; robberies or attempted robberies; actual or\n\nthreatened enemy attack; epidemics or other catastrophes; riots,\n\ncivil commotions and other acts of lawlessness or violence, actual\n\nor threatened;\n\n23. \"Executive officer\", when referring to a bank, out-of-state\n\nbank, or trust company, means any person designated as such in the\n\nbylaws and includes, whether or not so designated, the chairman of\n\nthe board of directors, chairman of the executive committee, the\n\npresident, any vice-president, the trust officer, the treasurer, the\n\ncashier, the comptroller and the secretary, or any person who\n\nperforms the duties appropriate to those offices;\n\n24. \"Federal Reserve Act\" means the Act of Congress approved\n\nDecember 23, 1913, (38 Stat. 251), as amended;\n\n25. \"Federal Reserve Bank\" means the Federal Reserve Banks\n\ncreated and organized under authority of the Federal Reserve Act;\n\n26. \"Federal Reserve Board\" means the Board of Governors of the\n\nFederal Reserve System created and described in the Federal Reserve\n\nAct, as amended;\n\n27. \"Fiduciary\" means original or successor trustee of an\n\nexpressed or implied trust, including, but not limited to, a\n\nresulting or constructive trust, special administrator, executor,\n\nadministrator, administrator common trust agreement, guardian,\n\nguardian-trustee or conservator for a minor or other incompetent\n\nperson, receiver, trustee in bankruptcy, assignee for creditors or\n\nany holder of a similar position of trust acting alone or with\n\nothers;\n\n28. \"General obligation\" means obligations of the State of\n\nOklahoma or a political subdivision of this state and of any other\n\nstate or political subdivision thereof supported by the full faith\n\nand credit of the obligor. It includes all obligations payable from\n\na special fund when the full faith and credit of a state or any\n\npolitical subdivision of a state is obligated for payment into the\n\nfund of amounts which will be sufficient to provide for all required\n\npayments in connection with the obligation. It implies an obligor\n\npossessing resources sufficient to justify faith and credit;\n\n29. \"Good faith\" means honesty in fact in the transaction and\n\nsome reasonable ground for belief that the transaction is rightful\n\nor authorized;\n\n30. \"Insolvent\" means that the actual cash market value of a\n\nbank's assets is insufficient to pay its liabilities other than its\n\ncapital stock, surplus and undivided profits, or that the bank is\n\nunable to meet the demands of its creditors in the usual course of\n\nbusiness;\n\n31. \"Insured depository institution\" means any bank or savings\n\nassociation the deposits of which are insured by the Federal Deposit\n\nInsurance Corporation;\n\n32. \"Interstate merger transaction\" means a merger between two\n\nbanks, two savings associations or a bank and a savings association,\n\none of which is chartered by or has its main office located in this\n\nstate, and the other of which is an out-of-state bank as defined in\n\nthis section;\n\n33. \"Investment securities\" means marketable obligations in the\n\nform of bonds, notes or debentures which are commonly regarded as\n\ninvestment securities. It does not include investments which are\n\npredominantly speculative in nature;\n\n34. \"Item\" means any instrument for the payment of money even\n\nthough not negotiable, but does not include money;\n\n35. \"Legal newspaper\" means a newspaper qualified to publish\n\nlegal notices under the provisions of Section 106 of Title 25 of the\n\nOklahoma Statutes;\nhich are commonly regarded as\n\ninvestment securities. It does not include investments which are\n\npredominantly speculative in nature;\n\n34. \"Item\" means any instrument for the payment of money even\n\nthough not negotiable, but does not include money;\n\n35. \"Legal newspaper\" means a newspaper qualified to publish\n\nlegal notices under the provisions of Section 106 of Title 25 of the\n\nOklahoma Statutes;\n\n36. \"Loan review committee\" means a person or group of persons\n\nwho, on behalf of an insured depository institution, reviews loans\n\nheld by such institution for the purpose of assessing the credit\n\nquality of the loans, compliance with the loan policies of such\n\ninstitution, and compliance with the applicable state and federal\n\nlaws, regulations and rules;\n\n37. \"Local media\" means:\n\na. any newspaper, radio station or television station\n\nwith its main office located in the same city or town\n\nin which a particular main office of a bank is\n\nlocated, and\n\nb. other means or media of advertising, including without\n\nlimitation any outdoor signage on the premises of the\n\nbank, billboards, bulk mailings and other\n\nsolicitations to persons who are not customers of the\n\nbank, but only to the extent that any such advertising\n\nis strictly limited in geographical location or\n\ndistribution to the same city or town, including the\n\nimmediate surrounding unincorporated rural area, where\n\nthe particular main office of the bank is located;\n\n38. \"Main bank\" means the office location which has been\n\ndesignated by the State Banking Commissioner or Comptroller of the\n\nCurrency as the main office of a bank;\n\n39. \"Main office\" means either the main bank or the main office\n\nlocation of a savings association;\n\n40. \"Managing officer\" means the chief executive officer of the\n\nbank;\n\n41. \"Member bank\" means any national bank, state bank or\n\nbanking and trust company which becomes a member of the Federal\n\nReserve System;\n\n42. \"Merger\" includes consolidation;\n\n43. \"Military banking facility\" means a facility maintained by\n\na bank upon a military installation, provided the facility must be\n\nwithin the confines of a military reservation and located upon\n\nproperty owned or leased by the United States government;\n\n44. \"Mobile\" means the ability to be moved, picked up, rolled,\n\npulled or driven;\n\n45. \"Multibank holding company\" means an Oklahoma corporation\n\nwhich directly or indirectly owns or controls two or more banks, two\n\nor more bank holding companies, or one or more of each as defined in\n\nthis section;\n\n46. \"National Bank Examiner\" or \"Federal Bank Examiner\" means\n\nany person employed as a bank examiner by the Comptroller of the\n\nCurrency, the Federal Deposit Insurance Corporation and the Federal\n\nReserve Board or Bank;\n\n47. \"Office\" means any place at which a bank or an out-of-state\n\nbank transacts its business or conducts operations related to its\n\nbusiness;\n\n48. \"Officer\", when referring to a bank, out-of-state bank or\n\ntrust company, means any person designated as such in the bylaws and\n\nincludes, whether or not so designated, any executive officer, the\n\nchairman of the board of directors, the chairman of the executive\n\ncommittee, and any trust officer, assistant trust officer, assistant\n\nvice-president, assistant treasurer, assistant cashier, assistant\n\ncomptroller, assistant secretary, auditor or any person who performs\n\nthe duties appropriate to those offices;\n\n49. \"Order\" means all, or any part, of the final disposition,\n\nwhether affirmative, negative, injunctive or declaratory in form, by\n\nthe Commissioner or the Banking Board, of any matter other than the\n\nmaking of regulations of general application;\n\n50. \"Out-of-state bank\" means a national bank or a state or\n\nfederal savings association which has its main office located in a\n\nstate other than Oklahoma, or a bank chartered by a state other than\n\nOklahoma;\n\n51. \"Out-of-state bank holding company\" means a bank holding\nin form, by\n\nthe Commissioner or the Banking Board, of any matter other than the\n\nmaking of regulations of general application;\n\n50. \"Out-of-state bank\" means a national bank or a state or\n\nfederal savings association which has its main office located in a\n\nstate other than Oklahoma, or a bank chartered by a state other than\n\nOklahoma;\n\n51. \"Out-of-state bank holding company\" means a bank holding\n\ncompany which is not incorporated in this state and which directly\n\nor indirectly owns or controls one or more banks or out-of-state\n\nbanks as defined in this section;\n\n52. \"Person\" means an individual, group of individuals, board,\n\ncommittee, partnership, firm, association, corporation or other\n\nentity;\n\n53. \"Political subdivision\" includes a county, city, town or\n\nother municipal corporation, a public authority, and generally any\n\npublicly owned entity which is an instrumentality of the state or a\n\nmunicipal corporation;\n\n54. \"Principal place of business of a bank or a bank holding\n\ncompany\" means the state in which the total deposits of the bank or\n\nthe bank subsidiaries of the bank holding company are the largest;\n\n55. \"Reason to know\" means that upon the information available\n\na person of ordinary intelligence in the particular business, or of\n\nthe superior intelligence or experience which the person in question\n\nmay have, would infer that the fact in question exists or that there\n\nis such a substantial chance of its existence that, if exercising\n\nreasonable care with reference to the matter in question, conduct\n\nwould be predicated upon the assumption of its possible existence;\n\n56. \"Resulting bank\" means the combined banks and trust\n\ncompanies carrying on business upon completion of a merger;\n\n57. \"Retailer\" means a person, corporation or partnership,\n\nprimarily engaged in the sale of goods at retail to the general\n\npublic;\n\n58. \"Savings association\" means any savings and loan\n\nassociation or savings bank chartered under the laws of this state\n\nor the laws of the United States authorized to engage in the savings\n\nand loan business with its main office located in this state;\n\n59. \"Savings association branch\" means any place of business\n\nseparated from the main office of a savings association at which\n\ndeposits are received, checks paid or money lent;\n\n60. \"Subsidiary\" with respect to a specified bank holding\n\ncompany or multibank holding company means a subsidiary as the term\n\nis defined in the Federal Reserve Bank Holding Company Act of 1956,\n\nas amended, 12 U.S.C., Section 1841; and\n\n61. \"Trust company\" means:\n\na. any person doing a trust company business as set forth\n\nin this Code except an incorporated or unincorporated\n\norganization which is organized under Section\n\n501(c)(3) of the Internal Revenue Code as being\n\norganized and operated exclusively for educational,\n\nreligious, charitable, or other eleemosynary purposes\n\nwhen exercising powers pursuant to the Oklahoma\n\nCharitable Fiduciary Act and the Oklahoma General\n\nCorporation Act, and\n\nb. the trust departments of banks authorized to engage in\n\nthe trust company business.","path":["OK Code","Title 6"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os6.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"804c747069ae3c39c8b0ad6136426bcbdca6c0dd5ad5165f686e9f60fdc15d8c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1019","next":"us-ok/okla.-stat.-tit.-6-6-1020"},"notice":"GroundRules: Original legal text. Not legal advice."}