{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-2003","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-2003","heading":"Investigation and report by Bank Commissioner -","body":"Certificate of approval - Certificate of incorporation.\n\nAfter receipt of an application such as referred to in Section\n\n2002 of this title, the Bank Commissioner shall cause an appropriate\n\ninvestigation to be made for the purpose of determining whether the\n\napplication, the certificate of incorporation and the bylaws conform\n\nto the provisions of the laws of the State of Oklahoma. If the\n\napplication, the certificate of incorporation and the bylaws conform\n\nto the provisions of this act, and the Bank Commissioner is\n\nsatisfied that:\n\n(1) the characteristics of the common bond of the field of\n\nmembership are favorable to the economic viability of the proposed\n\ncredit union and will not materially and substantially overlap the\n\nfield of membership of existing credit unions in the territory in\n\nwhich it will operate; and\n\n(2) the reputation, character, financial responsibility and\n\nbusiness experience of the initial board of directors and\n\nsupervisory committee provide assurance that the credit union's\n\naffairs will be properly administered,\n\nthe Bank Commissioner shall, within forty-five (45) days after\n\nreceipt of the application, submit a report of his investigation to\n\nthe State Credit Union Board, together with his recommendation to\n\nthe State Credit Union Board that the application be approved or\n\ndisapproved. The State Credit Union Board shall, within sixty (60)\n\ndays after the receipt of the report and recommendation of the Bank\n\nCommissioner, cause a certificate of approval to be issued or cause\n\nwritten notice to applicants of disapproval. Thereafter, the\n\ncertificate of incorporation with the certificate of approval of the\n\nState Credit Union Board attached shall be filed in the office of\n\nthe Secretary of State and a copy thereof, duly certified to by the\n\nSecretary of State, shall be filed with the State Credit Union\n\nBoard. A copy of the certificate of incorporation and bylaws as\n\napproved shall be returned to the incorporators. The Secretary of\n\nState shall issue a certificate in the form provided by law for\n\nother corporations, and the existence of said credit union as a\n\ncorporation shall date from the issuance of the certificate of\n\nincorporation by the Secretary of State, from which time it shall\n\nhave and may exercise the powers conferred upon corporations\n\ngenerally, except as limited or modified by the laws of the State of\n\nOklahoma.","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":"f801d45bfa3fe209fbae787d68cfee2cc540cdcf37821b68201758e7c5647a42","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-2002","next":"us-ok/okla.-stat.-tit.-6-6-2004.1"},"notice":"GroundRules: Original legal text. Not legal advice."}