{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-303.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-303.1","heading":"Capital structure - Preferred stock","body":"\n\nA. Except as provided in subsection B of this section, the\n\nState Banking Commissioner may not issue a charter to a state bank\n\nhaving required capital of less than the greater of Two Million\n\nDollars ($2,000,000.00) or such amount as may be required by the\n\nFederal Deposit Insurance Corporation.\n\nB. The Commissioner may require additional capital for a\n\nproposed bank or, on application in the exercise of discretion\n\nconsistent with protecting safety and soundness, reduce the amount\n\nof minimum capital required for a proposed bank, if the Commissioner\n\nfinds the proposed scope or type of operations of a proposed bank\n\nrequires additional, or permits reduced, capital, consistent with\n\nthe safety and soundness of the bank. To the extent determined by\n\nthe Commissioner to be relevant, the safety and soundness factors to\n\nbe considered by the Commissioner in the exercise of discretion\n\ninclude but are not limited to:\n\n1. The nature and type of business conducted;\n\n2. The nature and degree of liquidity in assets held in a\n\ncorporate capacity;\n\n3. The size of population of the proposed market;\n\n4. The existence and type of concentrations of lending or\n\ninvesting, if any, likely for the bank;\n\n5. The geographic size of the proposed market;\n\n6. The competence and experience of management;\n\n7. The extent and adequacy of internal controls;\n\n8. The presence or absence of annual unqualified audits by an\n\nindependent certified public accountant;\n\n9. The reasonableness of business plans for retaining or\n\nacquiring additional capital; and\n\n10. Federal Deposit Insurance Corporation capital requirements.\n\nC. Any trust company hereafter organized shall have paid-in\n\ncapital totaling Two Million Dollars ($2,000,000.00).\n\nD. The issuance of preferred stock by a newly organized bank or\n\ntrust company may be authorized by the Commissioner. Preferred\n\nstock shall have such preferences, powers and rights as the\n\nCommissioner may approve. It shall not be retired without the\n\napproval of the Commissioner and the requirement of such approval\n\nshall be stated in the stock certificates, but the Commissioner may\n\ngive advance approval to sinking funds payable exclusively out of\n\nearnings available for dividends.","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":"c629fbfaeeb40b982c43e44eb98e4121e3ed29db5a63c79cb9fe5b383385abb1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-303","next":"us-ok/okla.-stat.-tit.-6-6-304"},"notice":"GroundRules: Original legal text. Not legal advice."}