{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-502","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-502","heading":"Bank holding companies","body":"A. This section may be cited as the \"Bank Holding Company\n\nSection\" and shall have for its purpose the maintenance of\n\ncompetitive services between banks by limiting the expansion of bank\n\nholding companies and similar organizations. It is deemed to be in\n\nthe public interest that competition prevail in the banking system\n\nin the State of Oklahoma and to that end that the independence of\n\nunit banks be preserved. Further, it shall be the policy of this\n\nstate to oppose any attempt by any bank holding company to acquire\n\ncontrol of any bank located in this state if such acquisition would\n\nresult in a monopoly or in an attempt to monopolize the business of\n\nbanking in this state.\n\nB. A company may be a multibank holding company and have direct\n\nor indirect ownership or control of two or more banks or bank\n\nholding companies, subject to the deposit limitation provided for in\n\nsubsection C of this section. However, except as specifically\n\npermitted in this Code, all forms of direct or indirect ownership or\n\ncontrol of banks, bank holding companies, and multibank holding\n\ncompanies by any out-of-state bank or out-of-state bank holding\n\ncompany shall be prohibited.\n\nC. It shall be unlawful for a multibank holding company or an\n\nout-of-state bank or bank holding company to acquire direct or\n\nindirect ownership or control of any insured depository institution\n\nlocated in this state if the acquisition results in any such holding\n\ncompany or bank having direct or indirect ownership or control of\n\ninsured depository institutions located in this state, the total\n\ndeposits of which at the time of the acquisition exceed twenty\n\npercent (20%) of the total amount of deposits of insured depository\n\ninstitutions located in this state as determined by the State\n\nBanking Commissioner on the basis of the most recent reports of such\n\ninstitutions to their supervisory authorities which are available at\n\nthe time of the proposed acquisition or to acquire direct or\n\nindirect control of any insured depository institution in this state\n\nafter such multibank holding company or an out-of-state bank or bank\n\nholding company has reached or exceeded the twenty percent (20%)\n\nthreshold as provided in this subsection. Acquisitions of other\n\nmultibank holding companies shall not be exempt from this\n\nlimitation.\n\nD. The deposit limitation provided for in subsection C of this\n\nsection shall not apply in the following circumstances:\n\n1. Control of a bank by reason of ownership or control of\n\nshares acquired by a bank or by a bank holding company in good faith\n\nin a fiduciary capacity, except where such shares are held for the\n\nbenefit of the shareholders of such bank or such bank holding\n\ncompany; or\n\n2. Control of a bank by reason of ownership or control of\n\nshares acquired by a bank or by a bank holding company in the\n\nregular course of securing or collecting a debt previously\n\ncontracted in good faith.\n\nE. A bank holding company or a multibank holding company may\n\napply for and obtain an interim charter to organize an interim state\n\nbank for the purpose of facilitating the creation of a bank holding\n\ncompany, or acquiring or merging with an existing bank in accordance\n\nwith the provisions of Section 502.1 of this title or the laws of\n\nthe United States.\n\nF. A national bank in this state, bank holding company, or\n\nmultibank holding company seeking to acquire a state bank or\n\nnational bank in this state, or a nonbanking company that submits an\n\napplication for approval of such acquisition to the Board of\n\nGovernors of the Federal Reserve System pursuant to the provisions\n\nof Sections 1841 et seq. of Title 12 of the United States Code\n\nAnnotated shall also submit a copy of such application to the Board.\n\nG. The district court shall have jurisdiction to determine all\n\nquestions of compliance with the provisions of this section, except\nf\n\nGovernors of the Federal Reserve System pursuant to the provisions\n\nof Sections 1841 et seq. of Title 12 of the United States Code\n\nAnnotated shall also submit a copy of such application to the Board.\n\nG. The district court shall have jurisdiction to determine all\n\nquestions of compliance with the provisions of this section, except\n\nsuch jurisdiction shall not apply to actions of the Board or\n\nproceedings before the Board conducted pursuant to the Banking Code.\n\nThe decision of the district court shall be appealable to the\n\nSupreme Court in the same manner as in other civil cases.\n\nH. 1. Each bank holding company, multibank holding company and\n\nout-of-state bank holding company which directly or indirectly owns,\n\ncontrols, or has power to vote twenty-five percent (25%) or more of\n\nthe voting shares of one or more banks shall furnish a copy of the\n\nannual report of the operations of the holding company which is\n\nsubmitted to the Federal Reserve Bank for each fiscal year to the\n\nCommissioner.\n\n2. The books and records of each bank holding company of state-\n\nchartered banks are subject to inspection and examination by the\n\nCommissioner.","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":"8cea0dbb6bb42f19b1eef705f2cc9339acd23b0e065710bf6335bb1067440893","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-501.2","next":"us-ok/okla.-stat.-tit.-6-6-502.1"},"notice":"GroundRules: Original legal text. Not legal advice."}