{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1405","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1405","heading":"Unlawful gratuity or compensation - Transactions of","body":"persons connected with bank.\n\nA. It shall be unlawful and deemed a Class D1 felony offense\n\nfor an affiliate of a bank or trust company or for an officer,\n\ndirector or employee of a bank or trust company or affiliate of a\n\nbank or trust company:\n\n1. To solicit, accept or agree to accept, directly or\n\nindirectly, from any person other than the institution any gratuity,\n\ncompensation or other personal benefit for any action taken by the\n\ninstitution or for endeavoring to procure any such action; or\n\n2. To have any interest, directly or indirectly, in the\n\nproceeds of a loan or of a purchase or sale made by the bank, unless\n\nsuch loan is otherwise permissible, and the purchase or sale is\n\nexpressly authorized by this Code or by rule of the Board and,\n\nunless otherwise directed in writing by the Commissioner, is\n\nspecifically approved by vote of a majority of the board of\n\ndirectors of the bank or trust company. Provided, no interested\n\ndirector or trustee shall take part in such vote.\n\nB. In this section the term \"affiliate\" shall include:\n\n1. Any person who holds a majority of the stock of a bank or\n\nhas been determined by the Board to hold a controlling interest\n\ntherein, any other corporation in which such person owns a majority\n\nof the stock and any partnership in which the person has an\n\ninterest;\n\n2. Any corporation in which the institution or an officer,\n\ndirector or employee thereof holds a majority of the stock and any\n\npartnership in which such person has an interest; or\n\n3. Any corporation of which a majority of the directors are\n\nofficers, directors or employees of the institution or of which\n\nofficers, directors, trustees or employees constitute a majority of\n\nthe directors of the 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":"587b5725e5cfdd3332ef03ff478f6eec318f741b2f678333a832c0065a049a06","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1403","next":"us-ok/okla.-stat.-tit.-6-6-1406"},"notice":"GroundRules: Original legal text. Not legal advice."}