{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-501.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-501.1","heading":"Interstate mergers and acquisitions – De novo branches –","body":"Interstate reciprocity – Establishment and acquisition of branch\n\nbanks.\n\nA. Upon application to and approval granted by the State\n\nBanking Commissioner or Comptroller of the Currency, an out-of-state\n\nbank which engages or has engaged in an interstate merger\n\ntransaction with a bank or savings association that, prior to the\n\nmerger, had its main office located in this state shall be permitted\n\nto establish de novo branches in this state. An out-of-state bank\n\nwhich is not engaging, and has not previously engaged, in an\n\ninterstate merger transaction with a bank or savings association\n\nthat, prior to the merger, had its main office located in this\n\nstate, shall not be permitted to establish a de novo branch in this\n\nstate, nor to acquire a branch bank or savings association branch in\n\nthis state, unless, on a reciprocal basis, the state where the main\n\noffice of the out-of-state bank is located would permit a bank with\n\na main office located in this state to establish a de novo branch in\n\nthat other state without having engaged in an interstate merger\n\ntransaction with a bank having its main office in that other state.\n\nB. Subject to the limitations set forth in subsection A of this\n\nsection, a bank, branch bank, savings association, or savings\n\nassociation branch may be acquired by and engage in an interstate\n\nmerger transaction or interstate branch acquisition transaction with\n\nany out-of-state bank in accordance with applicable laws and rules\n\nof the Oklahoma State Banking Department and the state in which the\n\nmain office of the out-of-state bank is located. If the out-of-\n\nstate bank does not have a branch bank or savings association branch\n\nin this state at the time the interstate merger or interstate branch\n\nacquisition transaction application is filed with the appropriate\n\nregulatory authority, and if the law of the state where the main\n\noffice of the out-of-state bank is located does not permit\n\nreciprocal interstate de novo branching by a bank with a main office\n\nlocated in this state as more particularly provided for in\n\nsubsection A of this section, then the out-of-state bank must\n\nacquire the bank or the savings association, and may not acquire\n\njust a branch or branches thereof. An interstate merger or\n\ninterstate branch acquisition transaction will not be permitted if\n\nit will result in a violation of the twenty percent (20%) deposit\n\nlimitation contained in subsection I of Section 19 of this act. If\n\nthe result of an interstate merger transaction is that the bank or\n\nsavings association which is acquired is converted to one or more\n\nbranch banks of an out-of-state bank, the resulting branch bank\n\nshall have all the powers and be subject to the same limitations as\n\nany other branch bank located in this state. All in-state branch\n\nbanks of an out-of-state bank shall be regulated by the State\n\nBanking Commissioner as if the branch banks comprised an Oklahoma\n\nbank and the branch banks shall comply with applicable Oklahoma laws\n\nand rules in the conduct of their business in this state to the\n\nmaximum extent authorized under federal law. No in-state branch\n\nbank of an out-of-state bank shall be permitted to engage in any\n\nactivity not permissible for a bank in this state.\n\nC. Beginning May 31, 1997, a bank may establish a branch bank\n\nin any other state, or may acquire branch banks of an out-of-state\n\nbank which are located in any other state in accordance with the\n\nlaws of the other state. The bank shall be required to follow all\n\nprocedures and to obtain all approvals necessary to establish or\n\nacquire a branch bank under applicable Oklahoma law and any\n\napplicable rules as may be established by the Banking Board. The\n\nbank shall file with the Department a copy of each application or\n\nnotice filed with federal or other state regulatory authorities\n\nrelating to the transaction at the same time the application or\nfollow all\n\nprocedures and to obtain all approvals necessary to establish or\n\nacquire a branch bank under applicable Oklahoma law and any\n\napplicable rules as may be established by the Banking Board. The\n\nbank shall file with the Department a copy of each application or\n\nnotice filed with federal or other state regulatory authorities\n\nrelating to the transaction at the same time the application or\n\nnotice is filed with the federal or other state regulatory\n\nauthorities. Upon consummation of the transaction, the bank shall\n\nhave all of the powers under the applicable laws and regulations of\n\nthe state in which each branch bank is located, subject to the\n\nduties and restrictions thereof. In addition to any regulation by\n\nbank and regulatory authorities in the state where a branch bank is\n\nlocated, each branch bank located outside of this state shall be\n\nsubject to regulation by the Department as if the branch bank were\n\nlocated in this state and shall comply with the law of this state in\n\nthe conduct of its banking business in such other state.\n\nD. The provisions of this section shall not be construed as\n\npermitting branches established pursuant to this section through an\n\ninterstate merger transaction to be taxed at a rate which is\n\ndifferent from or discriminates in any way against a bank, savings\n\nassociation, or branch of either, which is chartered in this state.\n\nThe Oklahoma Tax Commission is hereby authorized to adopt policies\n\nand procedures consistent with the provisions of this subsection.\n\nE. An operating subsidiary of a bank which engages in the\n\nbusiness of owner-occupied home mortgage lending shall not be\n\nconsidered a branch under this section in order to conduct such\n\nlending operation at any location.","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":"f685527f29157bf9bedebf50b602c75ba51927a9560e4948e8086e84a997d073","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-427","next":"us-ok/okla.-stat.-tit.-6-6-501.2"},"notice":"GroundRules: Original legal text. Not legal advice."}