{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-502.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-502.1","heading":"Interim state banks - Application - Prefiling meeting -","body":"Acceptance of application - Merger or consolidation.\n\nA. Rules of General Applicability.\n\n1. The interim state bank, prior to commencing business, shall\n\nbe a party to a merger or consolidation with an existing bank. The\n\napplication to organize an interim state bank and the subsequent\n\nmerger or consolidation application shall be melded into a single\n\nprocess requiring, after the filing of the subsequent merger or\n\nconsolidation application, one opportunity for public comment after\n\nnotice is published by the applicant and one substantive review by\n\nthe Department pursuant to Section 1103 of this title.\n\n2. The provisions of Section 303 of this title governing the\n\nnumber of organizers shall not apply to applications to organize an\n\ninterim state bank.\n\nB. Prefiling meeting concerning application to organize an\n\ninterim state bank. The proposed organizers of an interim state\n\nbank should schedule a meeting with the Commissioner to discuss the\n\nproposal and the Department rules, policies and procedures,\n\nincluding means to combine many procedural and processing\n\nrequirements, applicable to the organization of an interim state\n\nbank. The Department shall provide the organizers with forms and\n\ndocuments which should be filed with the application for authority\n\nto organize an interim state bank. The prefiling meeting provided\n\nfor in this subsection may be waived by the Commissioner.\n\nC. Acceptance of application to organize.\n\n1. The Commissioner shall accept an application for authority\n\nto organize an interim state bank for processing if the applicant\n\nhas completed all of the information requested in the application.\n\nApplicants shall have one opportunity to correct deficiencies.\n\nDeficiencies that are not corrected adequately when the application\n\nis resubmitted may cause the application to be considered withdrawn\n\nor disapproved.\n\n2. Approval of the application by the Board shall be\n\nspecifically conditioned on approval of the subsequent merger or\n\nconsolidation. The approval shall be rescinded automatically if the\n\nmerger or consolidation is disapproved or if subsequent approval for\n\nestablishment of a holding company or for acquisition of the interim\n\nbank by the holding company is not received within twelve (12)\n\nmonths from the filing of the application for authority to organize\n\nan interim state bank, unless an extension has been requested by the\n\napplicant and granted by the Board. If the merger or consolidation\n\napplication is not filed within six (6) months of approval of the\n\ninterim state bank, the preliminary approval shall be withdrawn\n\nunless an extension has been requested by the applicant and granted\n\nby the Board.\n\nD. Subsequent merger or consolidation.\n\n1. When the interim state bank's duly executed certificate of\n\nincorporation is filed with and accepted by the Board, the interim\n\nstate bank becomes a body corporate, and may then legally enter into\n\nthe merger or consolidation agreement.\n\n2. All steps necessary to perfect the organization of a state\n\nbank must be completed before consummation of the merger or\n\nconsolidation.\n\nE. Rules. The Board shall adopt and promulgate rules necessary\n\nto effectuate the provisions of this section.","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":"6a5f87b8dcb9161b6157ec2fae039a4e773b76aa8ad5668eb49d5030af543c7b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-502","next":"us-ok/okla.-stat.-tit.-6-6-503"},"notice":"GroundRules: Original legal text. Not legal advice."}