{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1723","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1723","heading":"Examination of out-of-state trust institutions","body":"\n\nA. To the extent consistent with subsection C of this section,\n\nthe Commissioner may make such examinations of any office\n\nestablished and maintained in this state pursuant to Sections 10\n\nthrough 25 of this act by an out-of-state trust institution as the\n\nCommissioner may deem necessary to determine whether the office is\n\nbeing operated in compliance with the laws of this state and in\n\naccordance with safe and sound banking practices. The provisions of\n\nSection 209 of Title 6 of the Oklahoma Statutes shall apply to such\n\nexaminations.\n\nB. The Commissioner may require periodic reports regarding any\n\nout-of-state trust institution that has maintained an office in this\n\nstate pursuant to Sections 10 through 25 of this act. The required\n\nreports shall be provided by such trust institution or by the home\n\nstate regulator. Any reporting requirements prescribed by the\n\nCommissioner under this subsection shall be:\n\n1. Consistent with the reporting requirements applicable to\n\nstate trust companies; and\n\n2. Appropriate for the purpose of enabling the Commissioner to\n\ncarry out the responsibilities of the Commission pursuant to\n\nSections 10 through 25 of this act.\n\nC. The Commissioner may enter into cooperative, coordinating\n\nand information-sharing agreements with any other bank supervisory\n\nagencies or any organization affiliated with or representing one or\n\nmore bank supervisory agencies with respect to the periodic\n\nexamination or other supervision of any office in this state of an\n\nout-of-state trust institution, or any office of a state trust\n\ninstitution in any host state. The Commissioner may accept such a\n\nreport of examination and report of investigation in lieu of the\n\nCommissioner conducting an examination or investigation.\n\nD. The Commissioner may enter into contracts with any bank\n\nsupervisory agency that has concurrent jurisdiction over a state\n\ntrust institution or an out-of-state trust institution maintaining\n\nan office in this state to engage the services of such agency's\n\nexaminers at a reasonable rate of compensation, or to provide the\n\nservices of the Commissioner's examiners to such agency at a\n\nreasonable rate of compensation. Any such contract shall be deemed\n\na sole source contract under state law.\n\nE. The Commissioner may enter joint examinations or joint\n\nenforcement actions with other bank supervisory agencies having\n\nconcurrent jurisdiction over any office established and maintained\n\nin this state by an out-of-state trust institution or any office\n\nestablished and maintained by a state trust institution in any host\n\nstate. The Commissioner may at any time take such actions\n\nindependently if the Commissioner deems such actions to be necessary\n\nor appropriate to carry out the responsibilities of the Commissioner\n\npursuant to this section or to ensure compliance with the laws of\n\nthis state. However, in the case of an out-of-state trust\n\ninstitution, the Commissioner shall recognize the exclusive\n\nauthority of the home state regulator over corporate governance\n\nmatters and the primary responsibility of the home state regulator\n\nto safety and soundness matters.\n\nF. Each out-of-state trust institution that maintains one or\n\nmore offices in this state may be assessed and, if assessed, shall\n\npay supervisory and examination fees in accordance with the laws of\n\nthis state and rules of the Commissioner. Such fees may be shared\n\nwith other bank supervisory agencies or any organization affiliated\n\nwith or representing one or more bank supervisory agencies in\n\naccordance with agreements between such parties and the\n\nCommissioner.","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":"301d96b0ae7677da35842ef6f27a78d6fa31232d633303038e6476f0a68d3168","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1722","next":"us-ok/okla.-stat.-tit.-6-6-1724"},"notice":"GroundRules: Original legal text. Not legal advice."}