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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 3. Departmental Requirements |
SECTION 85:10-3-2. Report of change of controlling interest
Latest version.
- (a) When a bank or trust company is required by the Code to report a change of control to the Commissioner, such report shall be given within 60 days after the change of control becomes effective, unless such time period is extended upon request to the Commissioner. Such report shall include:(1) the number of shares sold and by whom,(2) the number of shares purchased and by whom,(3) the cost per share,(4) whether or not a loan was obtained by the purchaser for the purpose of purchasing the stock; if so, the amount, number of shares pledged, other collateral pledged, rate and terms, and the name of the lender, and(5) a resume of the past business operation and experience of the purchaser(s), together with financial statements dated within six (6) months. If the president or chief executive officer is unable to furnish the information required, the purchaser of the stock shall make the required report. Biographical and financial information called for by this paragraph may be supplied using a form adopted for such use by the Federal Deposit Insurance Corporation or the Federal Reserve System.(b) All information supplied under this section shall be confidential and not subject to public inspection for any purpose.