{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-403.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-403.1","heading":"Membership in Federal Reserve System","body":"A. Any bank incorporated under the laws of this state may\n\nsubscribe to the capital stock and become a member of the Federal\n\nReserve System.\n\nB. Any bank incorporated under the laws of this state which\n\nbecomes a member of the Federal Reserve System is by this Code\n\nvested with all powers conferred upon member banks of the Federal\n\nReserve System by the terms of the Federal Reserve Act as fully and\n\ncompletely as if such powers were specifically enumerated and\n\ndescribed in this Code. All such powers shall be exercised subject\n\nto all restrictions and limitations imposed by the Federal Reserve\n\nAct, or by regulations of the Federal Reserve Board made pursuant\n\nthereto.\n\nC. Compliance on the part of any such bank with the reserve\n\nrequirements of the Federal Reserve Act is full compliance with\n\nthose provisions of the laws of this state which require banks to\n\nmaintain cash balances in their vaults or with other banks, and no\n\nsuch bank shall be required to carry or maintain reserve other than\n\nsuch as is required under the terms of the Federal Reserve Act.\n\nD. Any such bank shall continue to be subject to the\n\nsupervision and examination required by the laws of this state,\n\nexcept that the Board of Governors of the Federal Reserve System has\n\nthe right, if it deems necessary, to make examinations. The\n\nauthorities of this state having supervision over such bank may\n\ndisclose to the Board of Governors of the Federal Reserve System, or\n\nto examiners duly appointed by it, all information in reference to\n\nthe affairs of any bank which has become or desires to become a\n\nmember of the Federal Reserve System.\n\nE. The provisions of this section shall be deemed to apply to\n\nany bank electing to become a member of the Federal Reserve System\n\nprior to the effective date of this act.","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":"ac486b2c1a4df24b806f6491339b9cfcef8547c7f22ff7c8349a52ebc7e4e2ef","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-402.1","next":"us-ok/okla.-stat.-tit.-6-6-404"},"notice":"GroundRules: Original legal text. Not legal advice."}