{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-712","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-712","heading":"Liability of directors, officers, and other persons -","body":"Overdrafts.\n\nA. Liability for violation of bank and trust laws. Any\n\ndirector, officer or other person who shall knowingly participate in\n\nany violation of the laws of this state, relative to banks and\n\nbanking and trust companies, shall be liable for all damages which\n\nthe corporation, its stockholders, depositors, creditors or owners\n\nof trust funds shall sustain in consequence of such violation; and\n\nupon proper showing that any director or directors knowingly\n\nassented to, participated in, acquiesced in after failure to make\n\ndue inquiry, or caused a loan to be made in excess of the amounts\n\nprescribed in Article VIII of this Code such director or directors\n\nshall be individually liable for the amount of such loan and shall\n\nbe required to eliminate the same from the assets of the bank upon\n\nthe request of the Commissioner.\n\nB. Liability for overdrafts. Any bank officer or employee who\n\nshall knowingly, willfully and fraudulently, for the purpose of\n\ndefrauding the bank, pay out of the funds of said bank upon the\n\ncheck, order or draft of any individual, firm, corporation or\n\nassociation, which has not on deposit with such bank a sum equal to\n\nsuch check, order or draft, shall be personally liable to such a\n\nbank for the amount so paid and such liability shall be covered by\n\nhis official bond.\n\nC. After August 9, 1989, no claim or action seeking to recover\n\nmoney damages shall be brought by the Federal Deposit Insurance\n\nCorporation, Resolution Trust Corporation or other federal banking\n\nregulatory agency against any director or officer, including any\n\nformer director or officer, of any insured financial depository\n\ninstitution as defined in the Financial Institutions Reform,\n\nRecovery and Enforcement Act of 1989 unless such claim or action\n\narises out of the gross negligence, or willful or intentional\n\nmisconduct of such officer or director during his term of office\n\nwith such insured financial institution.","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":"bc4941fd5de8a7f0d1e771faf1b8a4e5b6c75fc134aca7d5e6e80e6e291e6889","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-711.1","next":"us-ok/okla.-stat.-tit.-6-6-712.1"},"notice":"GroundRules: Original legal text. Not legal advice."}