{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-506","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-506","heading":"Out-of-state bank holding companies - Acquisitions","body":"A. An out-of-state bank holding company, upon approval by the\n\nFederal Reserve Board, may acquire an unlimited number of banks,\n\nbank holding companies and multibank holding companies. Any\n\nacquisition made pursuant to the provisions of this section may\n\ninclude assets and liabilities of the bank, bank holding company or\n\nmultibank holding company and all branches and facilities thereof.\n\nB. No out-of-state bank holding company shall be permitted to\n\nacquire direct or indirect ownership or control of any bank, bank\n\nholding company, or multibank holding company, except in compliance\n\nwith this section.\n\nC. No acquisition provided for in this section shall be\n\npermitted unless the approval of the Federal Reserve Board required\n\npursuant to subsection A of this section:\n\n1. Includes, for all acquisitions, a finding that:\n\na. notice of intent to acquire has been published in a\n\nnewspaper of general paid circulation in the county or\n\ncounties where the bank or banks to be acquired are\n\nlocated and that a notice of intent to acquire has\n\nbeen mailed by certified mail with return receipt\n\nrequested to each person owning stock in the bank,\n\nbank holding company or multibank holding company to\n\nbe acquired,\n\nb. the reports required by the Federal Reserve Board in\n\norder to assess the out-of-state bank holding\n\ncompany's record of meeting the credit needs of its\n\nentire community as required under the provisions of\n\nSection 2903 of Title 12 of the United States Code\n\nhave been placed on file as a matter of public record\n\nwith the Oklahoma State Banking Department, and\n\nc. the bank and, if acquired indirectly, its bank holding\n\ncompany or multibank holding company immediately after\n\nthe acquisition meets the capital adequacy guidelines\n\nof the appropriate federal financial supervisory\n\nagency; and\n\n2. Includes, for any acquisition of a majority of the voting\n\nshares, a finding that the acquisition has been approved by the\n\nboard of directors and a majority of the voting shares of the bank\n\nor of its parent bank holding company or multibank holding company.\n\nD. All limitations and restrictions of the Oklahoma Banking\n\nCode applicable to banks, bank holding companies and multibank\n\nholding companies shall apply to a bank, bank holding company or\n\nmultibank holding company which becomes a subsidiary of an out-of-\n\nstate bank holding company and to such out-of-state bank holding\n\ncompany. In addition, any bank which becomes a subsidiary of an\n\nout-of-state bank holding company shall maintain current reports\n\nshowing the bank's record of meeting the credit needs of its entire\n\ncommunity as required by the bank's federal financial supervisory\n\nagency under Section 2903 of Title 12 of the United States Code on\n\nfile as a matter of public record with the Department.\n\nE. Any out-of-state bank holding company which controls a bank,\n\na bank holding company or multibank holding company shall be subject\n\nto laws of this state and rules of its agencies relating to the\n\nacquisition, ownership, and operation of banks, bank holding\n\ncompanies and multibank holding companies.\n\nF. The Board shall have the power to enforce the prohibitions\n\nprovided for in this section by requiring divestiture and through\n\nthe imposition of fines and penalties, the issuance of cease and\n\ndesist orders, and such other remedies as are provided by law.\n\nG. Any final order of the Board shall be appealable pursuant to\n\nthe provisions of Section 207 of this title.","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":"78e84552db1cf80683188205fd357a8c4610d52b384221bfe3c21da5e932301d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-503","next":"us-ok/okla.-stat.-tit.-6-6-510"},"notice":"GroundRules: Original legal text. Not legal advice."}