{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1111","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1111","heading":"Merger with parent bank holding company, nonbank","body":"subsidiary of parent bank holding company or subsidiary.\n\nA. Upon approval by the Banking Board, and subject to\n\nsatisfying each of the criteria contained in subsection B of this\n\nsection and complying with the procedures required by subsection C\n\nof this section, a state bank may merge with:\n\n1. Its parent bank holding company;\n\n2. One or more nonbank subsidiaries of its parent bank holding\n\ncompany; or\n\n3. One or more subsidiaries of the state bank.\n\nB. The form and effect of any merger pursuant to this section\n\nmust be consistent with the following criteria:\n\n1. The state bank must be the resulting entity which is the\n\nsurvivor of the merger;\n\n2. The merger shall not result in any additional branch office\n\nof the state bank, unless such additional branch is approved\n\npursuant to the bank's de novo branching authority under Section\n\n501.1 of this title;\n\n3. Any activity carried on by any nonbank company which is a\n\nparty to the merger shall be terminated at the effective time of the\n\nmerger unless that activity is permissible for the resulting state\n\nbank;\n\n4. Any asset or investment which is held by a constituent\n\nnonbank company and which is not permitted to be held by a resulting\n\nstate bank shall be divested at or before the effective time of the\n\nmerger, unless the state bank obtains prior approval for a longer\n\ndivestiture period from the Commissioner in the manner provided in\n\nSection 1108 of this title and from appropriate federal banking\n\nagencies in accordance with any applicable federal banking laws or\n\nregulations;\n\n5. The merger shall not create an unsafe weakening of the\n\nresulting state bank's condition. However, the Board shall have\n\ndiscretion to approve a merger which will have the effect of\n\nmaterially strengthening a weakened bank, even if the resulting\n\nstate bank's condition or capital will remain less than\n\nsatisfactory; and\n\n6. The applicant bank shall present an acceptable plan for\n\nminimizing or eliminating the potential adverse impact of any\n\nsignificant debt or other direct or contingent liabilities of any\n\nnonbank company that will be merged into the resulting state bank.\n\nC. A merger pursuant to this section shall be governed by all\n\nof the provisions and procedures of Sections 1102 through 1106 of\n\nthis title. For this purpose such sections shall be interpreted so\n\nfar as reasonably applicable as if any nonbank company which is a\n\nparty to the merger were instead a constituent state bank being\n\nmerged into the resulting state bank.","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":"24dabf775af42f36cc462e8860d79841b1df1762e650c2ca7ad31cda69ede03f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1110","next":"us-ok/okla.-stat.-tit.-6-6-1201"},"notice":"GroundRules: Original legal text. Not legal advice."}