{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1719","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1719","heading":"Approval of establishment or acquisition of office by out-","body":"of-state institution.\n\nA. No trust office of an out-of-state trust institution may be\n\nacquired or established in this state pursuant to Sections 15\n\nthrough 20 of this act unless:\n\n1. The out-of-state trust institution shall have confirmed in\n\nwriting to the Commissioner that for as long as it maintains a trust\n\noffice in this state, it will comply with all applicable laws of\n\nthis state;\n\n2. The notificant shall have provided satisfactory evidence to the\n\nCommissioner of compliance with:\n\na. any applicable requirements of state foreign\n\ncorporation qualification laws, and\n\nb. the applicable requirements of its home state\n\nregulator for acquiring or establishing and\n\nmaintaining such office; and\n\n3. The Commissioner, acting within sixty (60) days after\n\nreceiving notice under Section 18 of this act, shall have certified\n\nto the home state regulator that the requirements of Sections 15\n\nthrough 20 of this act have been met and the notice has been\n\napproved or, if applicable, that any conditions imposed by the\n\nCommissioner pursuant to subsection B of this section have been\n\nsatisfied.\n\nB. The out-of-state trust institution may commence business at\n\nthe trust office on the sixty-first day after the date the\n\nCommissioner receives the notice unless the Commissioner specifies\n\nan earlier or later date. However, with respect to an out-of-state\n\ntrust institution that is not a depository institution and for which\n\nthe Commissioner shall have conditioned such approval on the\n\nsatisfaction by the notificant of any requirement applicable to a\n\nstate trust company, such institution shall have satisfied such\n\nconditions and provided to the Commissioner satisfactory evidence\n\nthereof.\n\nC. The sixty-day period of review may be extended by the\n\nCommissioner on a determination that the written notice raises\n\nissues that require additional information or additional time for\n\nanalysis. If the period of review is extended, the out-of-state\n\ntrust institution may establish the office only on prior written\n\napproval by the Commissioner.\n\nD. The Commissioner may deny approval of the office if the\n\nCommissioner finds that the notificant lacks sufficient financial\n\nresources to undertake the proposed expansion without adversely\n\naffecting its safety or soundness or that the proposed office is\n\ncontrary to the public interest. In acting on the notice, the\n\nCommissioner shall consider the views of the appropriate bank\n\nsupervisory agencies.","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":"6ba0268f3c7b5f00b80932aaea2228ad7f028f6695fa7a872557b29264801327","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1718","next":"us-ok/okla.-stat.-tit.-6-6-1720"},"notice":"GroundRules: Original legal text. Not legal advice."}