{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1023","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1023","heading":"Deposit of securities in clearing corporation or Federal","body":"Reserve Bank.\n\nA. Notwithstanding any other provisions of law, any bank, trust\n\ncompany, or national banking association holding securities in its\n\nfiduciary capacity, any bank, trust company, or national banking\n\nassociation holding securities as custodian or managing agent, and\n\nany bank, trust company, or national banking association holding\n\nsecurities as custodian for a fiduciary is authorized to deposit or\n\narrange for the deposit of securities in a clearing corporation, as\n\ndefined in paragraph (5) of subsection (a) of Section 8-102 of Title\n\n12A of the Oklahoma Statutes, or where the securities are those of\n\nthe United States of America, to deposit or arrange for the deposit\n\nof the securities at the Federal Reserve Bank under regulations\n\nprescribed from time to time by the Comptroller of the Currency.\n\nWhen securities are so deposited, certificates representing\n\nsecurities of the same class of the same issuer may be merged and\n\nheld in bulk in the name of the nominee of the clearing corporation\n\nwith any other securities deposited in the clearing corporation by\n\nany person regardless of the ownership of the securities, and\n\ncertificates of small denominations may be merged into one or more\n\ncertificates of larger denomination. The records of the fiduciary\n\nand the records of the bank, trust company, or national banking\n\nassociation acting as custodian, managing agent, or as custodian for\n\na fiduciary shall at all times show the name of the party for whose\n\naccount the securities have been deposited. Ownership of, and other\n\ninterest in, the securities may be transferred by bookkeeping entry\n\non the books of the clearing corporation without physical delivery\n\nof certificates representing the securities. A bank, trust company,\n\nor national banking association which deposits securities pursuant\n\nto this section shall be subject to such rules and regulations as,\n\nin the case of a state chartered institution, the Commissioner and,\n\nin the case of a national banking association, the Comptroller of\n\nthe Currency, may from time to time issue. A bank, trust company,\n\nor national banking association acting as custodian for a fiduciary\n\nshall, on demand by the fiduciary, certify in writing to the\n\nfiduciary the securities deposited by the bank, trust company, or\n\nnational banking association in the clearing corporation for the\n\naccount of the fiduciary. A fiduciary shall, on demand by any party\n\nto a judicial proceeding for the settlement of the fiduciary's\n\naccount or on demand by the attorney for the party, certify in\n\nwriting to the party the securities deposited by the fiduciary in\n\nthe clearing corporation for its account as the fiduciary.\n\nB. This section shall apply to any fiduciary holding securities\n\nin its fiduciary capacity, and any bank, trust company, or national\n\nbanking association holding securities as a custodian, managing\n\nagent, or custodian for a fiduciary, acting on the effective date of\n\nthis section or who thereafter may act regardless of the date of the\n\nagreement, instrument, or court order by which it is appointed and\n\nregardless of whether or not the fiduciary, custodian, managing\n\nagent, or custodian for a fiduciary, owns capital stock of the\n\nclearing corporation.","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":"874e260c224c7f93ce0c3f302f01dab6e777e7b867c6f87160f216ed297660b4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1022","next":"us-ok/okla.-stat.-tit.-6-6-1024"},"notice":"GroundRules: Original legal text. Not legal advice."}