{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1107","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1107","heading":"Conversion from state bank to national and of national to","body":"state bank, and trust powers.\n\nA. State bank conversion to national bank. Nothing in the law\n\nof this state shall restrict the right of a state bank to convert\n\ninto a national bank upon compliance with the laws of the United\n\nStates, and upon completion of such conversion it shall surrender\n\nits charter as a state bank.\n\nB. National bank conversion to state bank. A national bank\n\nlocated in this state, which follows the procedure prescribed by\n\nfederal law to convert into a state bank, shall be granted a state\n\ncharter if it meets the requirements for the incorporation of a\n\nstate bank and the standards and requirements set forth by rules and\n\nregulations of the Board. Any requirements that shares must be paid\n\nin cash may be satisfied by the exchange of shares of the converted\n\nstate bank for those of the converting national bank, which may be\n\nvalued at no more than their fair cash market value. The procedure\n\nfor incorporation of a state bank may be modified to the extent made\n\nnecessary by the difference between an ordinary incorporation and a\n\nconversion.\n\nC. Preservation of identity and use of prior name. The\n\nconverted bank shall be considered the same business and corporate\n\nentity as the converting bank with all of the rights, powers and\n\nduties of the converting bank except as limited by the charter and\n\nbylaws of the resulting bank. It may use the name of the converting\n\nbank whenever it can do any act under such name more conveniently.\n\nD. Succession to fiduciary positions. Where a resulting state\n\nbank is not to exercise trust powers, the Board shall not approve a\n\nmerger or conversion until satisfied that adequate provision has\n\nbeen made for successors to fiduciary positions held by the merging\n\nbanks or the converting bank, and the manner of succession of trust\n\npowers and successor trustees shall follow the same procedure as set\n\nout in Section 1018 of this Code.\n\nE. Continuation of corporate entity. Any reference to the\n\nconverting bank in any writing, whether executed or taking effect\n\nbefore or after the conversion, shall be deemed a reference to the\n\nconverted bank if not inconsistent with the other provisions of such\n\nwriting.","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":"0c6e4bd7a7d98f58e5eb31f5cc789bfa2e257ca32af3e06faefb3e2cfe14a0f8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1106","next":"us-ok/okla.-stat.-tit.-6-6-1108"},"notice":"GroundRules: Original legal text. Not legal advice."}