{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-204","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-204","heading":"Powers of Commissioner – Review of orders","body":"A. In addition to other powers conferred by this Code, the\n\nState Banking Commissioner shall have the power to require a bank,\n\nbank holding company or trust company or shareholder, officer,\n\ndirector, or bank employee to:\n\n1. Maintain its accounting system in accordance with such\n\nregulations as may be prescribed by the Board or as the Commissioner\n\nmay prescribe in absence of Board regulations; provided, the\n\naccounting system required shall have due regard to the size of the\n\nbanking and trust organization;\n\n2. Observe methods and standards which the Commissioner may\n\nprescribe for determining the value of various types of assets;\n\n3. Charge off the whole or part of an asset which at the time\n\nof the Commissioner's action could not lawfully be acquired;\n\n4. Write down an asset to its market value;\n\n5. Record liens and other interest in property;\n\n6. Obtain a financial statement from a borrower to the extent\n\nthat the bank can do so;\n\n7. Obtain insurance against damage to real estate taken as\n\nsecurity;\n\n8. Search, or obtain insurance of, the title to real estate\n\ntaken as security;\n\n9. Maintain adequate insurance against such other risks as the\n\nCommissioner may determine to be necessary and appropriate for the\n\nprotection of depositors, trust funds and the public;\n\n10. Cease and desist from engaging in any act or transaction,\n\nor doing any act in furtherance thereof, which would constitute a\n\nviolation of the provisions of the Oklahoma Banking Code, federal\n\nbanking law or the applicable banking law of another state, or a\n\nlawful regulation issued thereunder, or to cease and desist from\n\nengaging in any unsafe or unsound banking or trust practice; and\n\n11. Pay civil money penalties under the same circumstances and\n\nconditions applicable to imposition of civil money penalties by the\n\nprimary federal bank regulatory agency of the bank.\n\nB. Before issuing an order provided for in subsection A of this\n\nsection, the Commissioner shall give reasonable notice of an\n\nopportunity for a hearing. However, if the Commissioner makes\n\nwritten findings of fact that the protection of depositors will be\n\nharmed by delay in issuing an order provided for in subsection A of\n\nthis section, the Commissioner may issue a temporary order pending\n\nthe hearing on the order provided for in subsection A of this\n\nsection. The temporary order shall remain in effect until three (3)\n\nbusiness days after the hearing on the order provided for in\n\nsubsection A of this section and shall become final if the bank or\n\ntrust company subject to the order fails within fifteen (15) days\n\nafter the receipt of the order to request a hearing to determine\n\nwhether the temporary order should be modified, vacated, or become\n\nfinal. If a hearing on the temporary order is not held upon written\n\nrequest, the temporary order shall dissolve and the order provided\n\nfor in subsection A of this section shall not be issued except upon\n\nreasonable notice and opportunity for hearing.\n\nC. Any person, bank or trust company aggrieved by a final order\n\nof the Commissioner as provided for in this section may obtain a\n\nreview of the order by the Board, who shall have the power to\n\naffirm, modify, reverse, or stay the enforcement of any order of the\n\nCommissioner.\n\nD. 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 bank, bank holding company,\n\nor branch in this state of an out-of-state state bank, or any branch\n\nof an Oklahoma state bank in any other state, and the Commissioner\n\nmay accept such reports of examination and reports of investigation\n\nin lieu of conducting the Commissioner's own examinations or\nr\n\nmore bank supervisory agencies with respect to the periodic\n\nexamination or other supervision of any bank, bank holding company,\n\nor branch in this state of an out-of-state state bank, or any branch\n\nof an Oklahoma state bank in any other state, and the Commissioner\n\nmay accept such reports of examination and reports of investigation\n\nin lieu of conducting the Commissioner's own examinations or\n\ninvestigations. If such agreements result in the payment of fees,\n\nhowever calculated, by any other bank supervisory agency to the\n\nOklahoma State Banking Department for examination or supervisory\n\nactivities conducted by Department personnel, whether such activity\n\nis conducted inside or outside of this state, such fees shall be\n\ndeposited in the Oklahoma State Banking Department revolving fund\n\npursuant to Section 211.1 of this title. If such agreements result\n\nin the payment of fees, however calculated, by the Department to any\n\nother bank supervisory agency for examination or supervisory\n\nactivities conducted by such other bank supervisory agency, whether\n\nsuch activity is conducted inside or outside of this state, such\n\nfees shall be paid by the Department from the Oklahoma State Banking\n\nDepartment revolving fund pursuant to Section 211.1 of this title.\n\nThe Commissioner may enter into cooperative, coordinating, and\n\ninformation-sharing agreements with the Department of Consumer\n\nCredit and other state agencies with whom the agreements may be\n\nmutually beneficial.\n\nE. The Commissioner may enter into cooperative agreements with\n\nother bank regulatory agencies to facilitate the regulation of banks\n\nand bank holding companies doing business in this state. The\n\nCommissioner may accept reports of examinations and other records\n\nfrom such other agencies in lieu of conducting its own examinations\n\nof banks controlled by out-of-state bank holding companies. The\n\nCommissioner may take any action jointly with other regulatory\n\nagencies having concurrent jurisdiction over banks and bank holding\n\ncompanies or may take such actions independently in order to carry\n\nout the responsibilities of the Commissioner.\n\nF. 1. The Commissioner may issue interpretive statements\n\ncontaining matters of general policy for the guidance of state banks\n\nand trust companies and other entities under the jurisdiction of the\n\nDepartment. The Commissioner may amend or repeal an interpretive\n\nstatement by issuing an amended statement or notice of repeal of a\n\nstatement and shall provide notice thereof and make it available to\n\nall state-chartered banks and trust companies upon request.\n\n2. The Commissioner may issue opinions in response to specific\n\nrequests from members of the public or the banking and trust\n\nindustry directly or through the Deputy Commissioner or the\n\nDepartment's attorneys. The Commissioner may amend or repeal an\n\nopinion by issuing an amended statement or notice of repeal of an\n\nopinion and shall provide notice thereof and make it available to\n\nall state-chartered banks and trust companies upon request, except\n\nthat the requesting party may rely on the original opinion if all\n\nmaterial facts were originally disclosed to the Commissioner,\n\nconsiderations of safety and soundness of the affected bank are not\n\nimplicated with respect to further and prospective reliance on the\n\noriginal opinion, and the text and interpretation of relevant,\n\ngoverning provisions of this act have not been changed by\n\nlegislative or judicial action.\n\n3. An interpretive statement or opinion issued under this\n\nsection does not have the force of law and is not a rule.","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":"22f84949c9e77e80efb1a813058c0fc97f5ea2abd741f9fd47e8570e2eecfec3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-203","next":"us-ok/okla.-stat.-tit.-6-6-2041"},"notice":"GroundRules: Original legal text. Not legal advice."}