{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-706","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-706","heading":"Stock as personalty - Transfer on books - Shareholders","body":"indebted to bank or trust company - Lending on stock prohibited -\n\nPurchase of treasury stock.\n\nA. Transfer of shares. The shares of stock of a bank or trust\n\ncompany shall be deemed personal property and shall be transferred\n\non the books of the bank or trust company, in such manner as the\n\nbylaws may prescribe but no stock shall be transferred on the books\n\nof any bank or trust company where the registered holder thereof is\n\nindebted to the bank or trust company for any matured and unpaid\n\nobligations. The shares of stock of a stockholder indebted to the\n\nbank or trust company, as provided herein, may be transferred or any\n\nclaims of the bank or trust company, as herein defined, may be\n\nwaived at any time by written consent of the bank or trust company,\n\nexecuted by an officer other than the borrowing stockholder.\n\nB. Lending on stock prohibited. It shall be unlawful for any\n\nbank or trust company to loan its funds to any stockholder, on its\n\nstock or its holding company stock as collateral security; provided,\n\nthat any bank or trust company may hold its stock to secure the\n\nindebtedness previously in good faith contracted.\n\nC. Purchase of treasury stock. With the approval of the\n\nCommissioner and subject to the conditions as the Commissioner may\n\nprescribe, a bank may purchase its own stock as treasury stock.","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":"b10a77f554e1cedd3b96e1c1608d9d0eb9407c7cc97129c4a4dd7d2c1c14e79e","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-705","next":"us-ok/okla.-stat.-tit.-6-6-707"},"notice":"GroundRules: Original legal text. Not legal advice."}