{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-306.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-306.1","heading":"Commissioner – Certificate of authority – Recommendation","body":"of action.\n\nA. Once the Commissioner determines that a bank or savings\n\nassociation is in danger of failing and all or part of the deposit\n\nliability of such bank or savings association is to be assumed by a\n\nbank being organized for that purpose, the Board at a meeting closed\n\nto the public may approve of the organization of the acquiring bank\n\nand the Commissioner may grant a certificate of authority to the\n\nacquiring bank, and shall not be bound by the provisions,\n\nrestrictions, and requirements contained in Article III of this\n\ntitle. The Commissioner is further empowered in such event to grant\n\nauthority to organize a state savings association and issue a\n\ncertificate of authority without notice or hearing and without\n\naction of the Board.\n\nB. If the Commissioner has determined that a bank is in danger\n\nof failing and the Commissioner must take possession of the bank\n\npursuant to Article XII of this title, the Board at a meeting closed\n\nto the public may approve of the actions of the Commissioner and\n\norder the Commissioner to tender to the Federal Deposit Insurance\n\nCorporation the appointment as liquidator of the bank.\n\nC. If the Commissioner determines that a bank or other company\n\nunder the Department’s supervision is in danger of failing or is\n\nsubject to other conditions or circumstances which, if made public,\n\ncould result in deterioration of the bank or other company, the\n\nBoard, at a meeting closed to the public, may consider any action\n\nrecommended by the Commissioner directed at resolving or improving\n\nupon the conditions or circumstances to which the bank or other\n\ncompany is subject.","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":"994c01263a438b5fa77d4439ee635efaadb530ee419eb897cfa846032cbf42d7","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-305","next":"us-ok/okla.-stat.-tit.-6-6-306.2"},"notice":"GroundRules: Original legal text. Not legal advice."}