{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1205","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1205","heading":"Federal Deposit Insurance Corporation as liquidator","body":"A. Liquidation by F.D.I.C. The Federal Deposit Insurance\n\nCorporation is hereby authorized and empowered to be and act without\n\nbond as liquidating agent of any banking institution closed by the\n\nState Banking Commissioner, the deposits in which are to any extent\n\ninsured by the Corporation.\n\nB. Commissioner may tender to F.D.I.C. as liquidator. The\n\nCommissioner may in the event of such closing upon order of the\n\nBoard tender to the Corporation the appointment as liquidator of\n\nsuch banking institution.\n\nC. Appointment of F.D.I.C. as liquidator - Acceptance. Upon\n\nbeing notified in writing of the acceptance of such an appointment,\n\nthe Commissioner shall forthwith file in the office of the clerk and\n\nrecorder in the county in which the bank is situated a certificate\n\nevidencing the appointment of the Federal Deposit Insurance\n\nCorporation. Upon the filing of such certificate the possession of\n\nall the assets, business and property of such bank of every kind and\n\nnature wheresoever situated shall be deemed transferred from such\n\nbank and the Commissioner to the Federal Deposit Insurance\n\nCorporation including any securities pledged by the bank to the\n\nCommissioner pursuant to Section 1004 of this title. Without the\n\nexecution of any instruments of conveyance, assignment, transfer or\n\nendorsement, the title to all such assets and property shall be\n\nvested in the Federal Deposit Insurance Corporation and the\n\nCommissioner shall be forever thereafter relieved from any and all\n\nresponsibility and liability in respect to the possession and\n\nliquidation of such bank.\n\nD. Powers of F.D.I.C. as liquidator. If the Corporation\n\naccepts the appointment, it shall have and possess all the powers\n\nand privileges provided by the laws of this state with respect to\n\nthe liquidation of a bank and with respect to its depositors and\n\nother creditors and shall proceed in liquidation under this title as\n\nif it were the Commissioner and shall act in the Commissioner's\n\nstead and be substituted therefor in all actions brought pursuant to\n\nSection 1018 of this title.\n\nE. Priority of Claims for F.D.I.C. If the Corporation serves\n\nas the liquidating agent of any national bank the principal office\n\nof which is located in Oklahoma, it shall be bound by the priority\n\nof claims established in subsection K of Section 1204 of this title.\n\nF. Individual liability of directors. Among its other powers,\n\nthe Federal Deposit Insurance Corporation, in the performance of its\n\npowers and duties as such liquidator, shall have the right and\n\npower, upon the order of a court of record of competent\n\njurisdiction, to enforce the individual liability of the directors\n\nof any such banking institution.","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":"9885ba7115f6f1c3c2aadb62f8a64ed8ce360a161e9d1bd5ad97670ceb5f8690","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1204","next":"us-ok/okla.-stat.-tit.-6-6-1206"},"notice":"GroundRules: Original legal text. Not legal advice."}