{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-203","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-203","heading":"Powers of Board","body":"In addition to other powers conferred by the Oklahoma Banking\n\nCode, the Board shall have power to:\n\n1. Regulate its own procedures and practice, except as may be\n\nhereafter provided by law;\n\n2. Define any term not defined in the Oklahoma Banking Code;\n\n3. Adopt and promulgate reasonable and uniform rules and\n\nregulations to govern the conduct, operation and management of all\n\nbanks or trust companies created, organized or existing under or by\n\nvirtue of the laws of this state, and to govern the examination,\n\nvaluation of assets and the statements and reports of such banks or\n\ntrust companies, and the form on which such banks or trust companies\n\nshall report their assets, liabilities and reserves, and charge off\n\nbad debts and otherwise keep their records and accounts, and\n\notherwise to govern the administration of the Oklahoma Banking Code.\n\na. Each bank and trust company and each officer,\n\ndirector, owner, stockholder, agent and employee\n\nthereof shall comply with every rule and regulation\n\npromulgated so long as the same remain in force.\n\nb. The Board may amend, modify or repeal rules and\n\nregulations now in force and effect or hereafter\n\nadopted. Copies of such amendments and modifications\n\nand notice of repeal shall be mailed to each state-\n\nchartered bank and state-chartered trust company\n\nwithin ten (10) days after such action is taken;\n\n4. Restrict the withdrawal of deposits from all, or one or\n\nmore, banks where the Board finds that extraordinary circumstances\n\nmake such restriction necessary for the proper protection of\n\ndepositors in the affected institution or institutions;\n\n5. Authorize banks or trust companies under circumstances in\n\nwhich they are not given authority under the Oklahoma Banking Code\n\nto participate in any public agency hereafter created under the laws\n\nof this state, or of the United States, the purpose of which is to\n\nafford advantages or safeguards to banks or trust companies, and to\n\nauthorize compliance with all requirements and conditions imposed\n\nupon such participants;\n\n6. Order any person to cease violating a provision of the\n\nOklahoma Banking Code, federal banking law, or a lawful regulation\n\nissued thereunder, or to cease engaging in any unsound banking or\n\ntrust practice. A copy of such order shall be mailed to each\n\ndirector of the bank by which such person is employed;\n\n7. Affirm, modify, reverse or stay the enforcement of any order\n\nor ruling of the Commissioner concerning banks or trust companies;\n\nand\n\n8. Suspend a director, officer or employee of a bank or trust\n\ncompany who becomes ineligible to hold the position, or who, after\n\nreceipt of an order to cease, violates the Oklahoma Banking Code,\n\nfederal banking law, or a lawful regulation or order issued\n\nthereunder, or who is dishonest or who is reckless or grossly\n\nincompetent in the conduct of banking business or who has engaged or\n\nparticipated in any unsafe or unsound practice in connection with a\n\nbank or trust company. It shall be a criminal offense for any such\n\nperson, after receipt of a suspension order, to perform any duty or\n\nexercise any power of any bank or trust company until the Board\n\nshall vacate such suspension order. A suspension order shall\n\nspecify the grounds thereof. A copy of the order shall be sent to\n\nthe bank or trust company concerned, and to each member of its board\n\nof directors; provided, in absence of circumstances deemed by the\n\nBoard to require immediate action, no person shall be suspended\n\nunder the powers herein granted unless the person shall have first\n\nbeen afforded a hearing before the Board after not less than ten\n\n(10) days' notice thereof shall have been served upon the person by\n\nregistered or certified mail, return receipt requested.","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":"1a6ac52392dccc74d3728ebf3a21b48d95e8f40a8822fd4da84b37c48f52701a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-2027","next":"us-ok/okla.-stat.-tit.-6-6-204"},"notice":"GroundRules: Original legal text. Not legal advice."}