{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-411","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-411","heading":"Pledge of assets - Banks","body":"A. A bank may pledge its assets to:\n\n1. Enable it to act as agent for the sale of obligations of the\n\nUnited States;\n\n2. Secure borrowed funds;\n\n3. Secure deposits when the depositor is required to obtain\n\nsuch security by the laws of the United States, by the terms of any\n\ninterstate compact, by the laws of any state or by order of a court\n\nof competent jurisdiction;\n\n4. Secure the uninsured portion of deposits made by a\n\ngovernmental agency of the State of Oklahoma, any public trust\n\nhaving the State of Oklahoma as a beneficiary, rural water district,\n\nnonprofit rural water corporation or master conservancy districts\n\nformed pursuant to the Conservancy Act of Oklahoma, so long as the\n\npledge is made with the same type of collateral and in the same\n\nmanner and form as pledges made to secure deposits by the State\n\nTreasurer;\n\n5. Anyone as permitted by national banks; or\n\n6. Otherwise comply with the provisions of this Code.\n\nB. In the event the bank pledges assets pursuant to subsection\n\nA of this section, the bank shall maintain in its files\n\ndocumentation showing the legal authority or basis for such\n\npledging.\n\nC. With respect to the pledge of assets for deposits identified\n\nin subsections A and B of this section, any such pledge shall only\n\napply to the portion not insured by the Federal Deposit Insurance\n\nCorporation.","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":"8520cc1f301e4ad721cb93fb03f02acbf54a3b952f64c3cc11a162f102a3733f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-410","next":"us-ok/okla.-stat.-tit.-6-6-412"},"notice":"GroundRules: Original legal text. Not legal advice."}