{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-424","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-424","heading":"Origination of loans at locations other than main office or","body":"branch office – Out-of-state banks – Loan and deposit production\n\noffices.\n\nA. Subject to rules promulgated by the Banking Board, a bank or\n\nout-of-state bank may utilize employees or agents of the bank or\n\nout-of-state bank to originate loans or originate deposit accounts,\n\nor both, at locations other than the main office or a branch office\n\nof such bank or out-of-state bank, provided that the loan decision\n\nis made and the loan is funded at the main office or a branch office\n\nof the bank or out-of-state bank and provided that no deposits shall\n\nbe accepted or received at the deposit origination office. A bank\n\nor out-of-state bank may establish an office location described in\n\nthis section by making an application to the State Banking\n\nCommissioner on a form prescribed by the Commissioner. An\n\napplication fee of Five Hundred Dollars ($500.00) shall accompany\n\nthe application.\n\nB. An office shall be considered to be a loan production office\n\nif it is open to the public, and employees or agents of the bank or\n\nout-of-state bank:\n\n1. Provide loan applications to customers;\n\n2. Facilitate the return of the loan application to the bank or\n\nout-of-state bank;\n\n3. Provide promissory notes and/or disclosures to customers;\n\n4. Receive executed notes from customers; or\n\n5. Arrange for the loan proceeds to be delivered to the\n\ncustomer.\n\nC. An office shall be considered to be a deposit production\n\noffice if it is open to the public, and employees or agents of the\n\nbank or out-of-state bank:\n\n1. Provide deposit applications to customers;\n\n2. Facilitate the return of the deposit application to the bank\n\nor out-of-state bank;\n\n3. Provide deposit agreements and/or disclosures to customers;\n\n4. Receive executed deposit agreements from customers; or\n\n5. Arrange for the deposited funds to be delivered to the bank.\n\nD. The Commissioner or the Board may, upon written request of a\n\nbank or out-of-state bank, designate or approve of specified\n\nactivities (including a limited number of those described in\n\nsubsections B and C of this section) that a bank or out-of-state\n\nbank may conduct without the facility being considered a loan\n\nproduction office or deposit production office. For purposes of\n\nthis section, the word “agent” shall include independent\n\ncontractors, or any other “institution affiliated party” as that\n\nterm is defined in 12 U.S.C., Section 1813(u).","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":"1a9fe84e4582ccfbbe30d886d04390ccc2e4a5dee523c909b3588da8298b75ed","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-423","next":"us-ok/okla.-stat.-tit.-6-6-425"},"notice":"GroundRules: Original legal text. Not legal advice."}