{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-2109","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-2109","heading":"Additional bond - Deposit of securities in lieu of bond","body":"(a) If the Commissioner shall find at any time that any bond\n\nrequired under this act is insecure or exhausted, an additional bond\n\nto be approved by the Commissioner shall be filed by the licensee\n\nwithin ten (10) days after written demand therefor by the\n\nCommissioner.\n\n(b) In lieu of any bond required under this act, the licensee\n\nmay deposit with the Commissioner securities with a ready market\n\nvalue equal to the amount of any such bond. Such securities shall\n\nconsist of (1) general obligations of or fully guaranteed by the\n\nUnited States or of any agency or instrumentality of or corporation\n\nwholly owned by the United States directly or indirectly; or (2)\n\ndirect general obligations of the State of Oklahoma, or of any\n\ncounty, city, town, school district, or other political subdivision\n\nor municipal corporation of the State of Oklahoma. Such securities\n\nshall be held by the Commissioner to secure the same obligation as\n\nwould any bond, required by this act. The securities so deposited\n\nmay be exchanged from time to time for other securities receivable\n\nas aforesaid. All said securities shall be subject to sale, and\n\ntransfer and to the disposal of the proceeds by said Commissioner\n\nonly on the order of a court of competent jurisdiction. So long as\n\nthe licensee so depositing shall continue solvent, such licensee\n\nshall be permitted to receive the interest or dividends on said\n\ndeposit. The Commissioner may provide for custody of such\n\nsecurities by any qualified trust company or bank located in the\n\nState of Oklahoma or by any Federal Reserve Bank. The compensation,\n\nif any, of the custodian for acting as such under this section shall\n\nbe paid by the depositing licensee.","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":"00901fade1871686c18ac61c231444b3fe39947bc60bd6f2c3a786f125dd309f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-2108","next":"us-ok/okla.-stat.-tit.-6-6-211"},"notice":"GroundRules: Original legal text. Not legal advice."}