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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 85. State Banking Department |
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Chapter 10. Supervision, Regulation and Administration of Banks, Trust Companies, and the Oklahoma Banking Code |
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Subchapter 13. Investor Protection |
SECTION 85:10-13-4. Complaint procedure for violations
Latest version.
- (a) Possible violations of any portion of this subchapter may be reported to the Commissioner by any interested person. The Commissioner shall investigate alleged violations and may, at his discretion, order an evidentiary hearing.(b) When a hearing is ordered, the respondent bank or trust company shall have the opportunity to appear before the Commissioner at the hearing and show cause why the activity complained of should be allowed to continue.(c) Following the hearing, the Commissioner shall enter findings of fact, conclusions of law, and an order. If the Commissioner orders the practice to cease or other appropriate sanction, the bank or trust company, within ten (10) days from the date of the order, may request a hearing before the Board. In those cases in which such a hearing is requested, the Board shall review the Commissioner's findings and conclusions and may enter an order which adopts, modifies, or rejects the Commissioner's findings of fact, conclusions of law and order.