{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1605","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1605","heading":"Application for license - Approval or disapproval","body":"Application for license; approval or disapproval.\n\nA. Every international banking corporation, before being\n\nlicensed by the Commissioner to act in a liaison capacity or to\n\ntransact a banking business in this state, or before maintaining in\n\nthis state any office to carry on such business or any part thereof,\n\nshall subscribe and acknowledge, and submit to the Board a separate\n\napplication which shall state:\n\n1. The name of such international banking corporation;\n\n2. The location by street and post office address and county\n\nwhere its business is to be transacted in this state and the name of\n\nthe person who shall be in charge of the business and affairs of\n\nsuch agency or representative office;\n\n3. The location where its initial registered office will be\n\nlocated in this state;\n\n4. The amount of its capital actually paid in and the amount\n\nsubscribed for and unpaid; and\n\n5. The total amount of the capital accounts of such\n\ninternational banking corporation, which must be at least Twenty-\n\nfive Million Dollars ($25,000,000.00) for the establishment of an\n\ninternational bank agency and Ten Million Dollars ($10,000,000.00)\n\nfor the establishment of a representative office; and a complete and\n\ndetailed statement of its financial condition as of a date within\n\none hundred eighty (180) days prior to the date of such application,\n\nexcept that the Board in its discretion may, when necessary or\n\nexpedient, accept such statement of financial condition as of a date\n\nthe Board determines to be acceptable. The Board in its discretion\n\nmay, when necessary or expedient, require an opinion audit or the\n\nequivalent.\n\nB. The Board may disallow any illegally obtained currency,\n\nmonetary instruments, funds, or other financial resources from the\n\ncapitalization requirements of this section.\n\nC. Notwithstanding the provisions of paragraph 5 of subsection\n\nA of this section, the Board may approve such application if:\n\n1. The international corporation has been in the business of\n\nbanking for at least ten (10) years and has been empowered under the\n\nlaws of the country in which it is organized and licensed to receive\n\ndeposits without restriction from the general public and to engage\n\nin such other activities as are usual in connection with the\n\nbusiness of banking in the country where such foreign institution is\n\norganized and licensed;\n\n2. The international banking corporation is ranked by the\n\nbanking or supervisory authority of the country in which it is\n\norganized and licensed as one of the five largest banks in that\n\ncountry in terms of domestic deposits, as of the date of the\n\nstatement of its financial condition as required by paragraph 5 of\n\nsubsection A of this section; and\n\n3. The Board received a certificate issued by the banking or\n\nsupervisory authority of the country in which the international\n\nbanking corporation is organized and licensed stating that the\n\ninternational banking corporation is duly organized and licensed and\n\nlawfully existing in good standing, and is empowered to conduct a\n\ngeneral banking business.\n\nProvided, the Board may specify such other conditions as it may\n\ndeem appropriate, considering the public interest, the need to\n\nmaintain a sound and competitive banking system, and the\n\npreservation of an environment conducive to the conduct of an\n\ninternational banking business in the state.\n\nD. At the time such application is submitted to the Board, such\n\ncorporation shall also submit a duly authenticated copy of its\n\narticles and an authenticated copy of its bylaws, or an equivalent\n\nthereof satisfactory to the Board. Such corporation shall also\n\nsubmit a certificate issued by the banking or supervisory authority\n\nof the country in which the international banking corporation is\n\norganized and licensed stating that the international banking\nf its\n\narticles and an authenticated copy of its bylaws, or an equivalent\n\nthereof satisfactory to the Board. Such corporation shall also\n\nsubmit a certificate issued by the banking or supervisory authority\n\nof the country in which the international banking corporation is\n\norganized and licensed stating that the international banking\n\ncorporation is duly organized and licensed and lawfully existing in\n\ngood standing and has not been convicted of, or pleaded guilty or\n\nnolo contendere to, a violation of any currency transaction\n\nreporting or money laundering law which may exist in the country.\n\nE. Application shall be made on a form prescribed by the Board\n\nand shall contain such information as the Board may require.\n\nF. The Board may, in its discretion, approve or disapprove the\n\napplication, but shall not approve such application unless, in its\n\nopinion, the applicant meets each and every requirement of the\n\nInternational Bank Act and of all other applicable provisions of the\n\nOklahoma Banking Code. In the processing of applications, the time\n\nlimitations under the Administrative Procedures Act shall not apply\n\nas to approval or disapproval of the application.","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":"f6f276962edff827ebf5527eb25e21f0ef389d2c9e01fce6b0178e0cc1ec6b36","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1604","next":"us-ok/okla.-stat.-tit.-6-6-1606"},"notice":"GroundRules: Original legal text. Not legal advice."}