{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1401","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1401","heading":"Transaction of banking business not authorized by law -","body":"Unauthorized use of words bank, trust, etc. - Injunction and\n\nappointment of receiver - Acceptance of filings by Secretary of\n\nState.\n\nA. It shall be unlawful for any person, firm, association or\n\ncorporation to receive money upon deposit or transact a banking\n\nbusiness except as authorized by the laws of this state or of the\n\nUnited States, or to use or advertise, in connection with any\n\nbusiness other than the banking business, conducted under the\n\nbanking laws of this state or the savings and loan business\n\nconducted under the savings and loan laws of this state, the words:\n\nBanc, Bank, Banker, Bankers, Banque, Investment Banker, or any\n\nderivative thereof, however spelled, or any other word or term which\n\nin the discretion of the Commissioner is determined to deceive the\n\npublic into belief that such person, firm, association or\n\ncorporation is engaged in the banking business or savings and loan\n\nbusiness. Any person, firm, association or corporation violating\n\nany of the provisions of this section, either individually or as an\n\ninterested party, in any firm, association or corporation, shall be\n\nsubject to the jurisdiction of the Commissioner, shall be guilty of\n\na misdemeanor, and upon conviction thereof shall be fined in a sum\n\nnot less than Six Hundred Dollars ($600.00), nor more than Two\n\nThousand Dollars ($2,000.00) per violation, or by imprisonment in\n\nthe county jail not less than thirty (30) days or more than one (1)\n\nyear, or by both such fine and imprisonment, and it is hereby made\n\nthe duty of the Attorney General to enforce the provisions of this\n\nsection.\n\nB. Unlawful use of trust or trust company. It shall be\n\nunlawful for any person, firm, association or corporation except\n\nstate banks having trust powers, national banking associations\n\nlocated in this state and having trust powers and trust companies\n\nincorporated under the laws of this state and having trust powers to\n\nuse or advertise the word \"Trust\" or \"Trust Company\" or any\n\nderivative thereof, however spelled, in the conduct of their\n\nbusiness in a manner which in the discretion of the Commissioner is\n\ndetermined to deceive the public into belief that such person, firm,\n\nassociation or corporation has been authorized to transact business\n\nas a regulated financial institution and no firm, association or\n\ncorporation hereafter organized under any other act shall use the\n\nword \"Trust\" or \"Trust Company\" as a part of its name. Nothing in\n\nthis subsection shall prohibit the continued use of such words by\n\nany banking corporation which is using such words as of the\n\neffective date of this act. Any person, firm, association or\n\ncorporation violating any of the provisions of this section, either\n\nindividually or as an interested party, in any firm, association or\n\ncorporation, shall be subject to the jurisdiction of the\n\nCommissioner.\n\nC. Injunction - Appointment of receiver. In order to further\n\nprevent the violation of this section, any court of competent\n\njurisdiction in this state is hereby authorized and empowered to\n\ngrant an injunction and, if requested by the Commissioner, to\n\nappoint a receiver to take charge of the business and assets of any\n\nperson, firm, association or corporation reasonably believed by the\n\nCommissioner to be violating the provisions of this section, and to\n\nmake all necessary and proper orders to wind up such business and\n\nprevent a violation of Section 1401 of this title.\n\nD. Secretary of State - Filing requirements. The Secretary of\n\nState is prohibited from accepting any document for filing which\n\nincludes the words Banc, Bank, Banker, Bankers, Banque, Investment\n\nBanker, Trust, Trust Company, or any derivative thereof, however\n\nspelled, unless the Commissioner has given written consent thereto.","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":"092ca66851e7953e44e129841932199d1c87eeb116a9616fae91b092fcbea40c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1313","next":"us-ok/okla.-stat.-tit.-6-6-1403"},"notice":"GroundRules: Original legal text. Not legal advice."}