 |
Oklahoma Administrative Code (Last Updated: March 11, 2021) |
 |
TITLE 85. State Banking Department |
|
Chapter 10. Supervision, Regulation and Administration of Banks, Trust Companies, and the Oklahoma Banking Code |
|
Subchapter 5. Requirements, Standards and Procedures for an Internal Control Program |
SECTION 85:10-5-5. Review and appointments
Latest version.
- Review and Appointments of the following items shall be made by the board of directors at least annually.(1) A review and approval of the internal control audit program, lending policy and asset/liability management policy and their implementation for the previous year.(2) A review and approval of the institution's blanket bond and all other insurance coverages.(3) Elect officers and appoint committees for the coming year as designated by the bylaws.(4) Designate the officers and/or employees with authority to sign official checks of the bank or trust company, to include any dollar limitations or two signatures required stipulations.(5) Review the report per Subchapter 7 of this Chapter, "Director's Examination". Follow up on the disposition of any differences or recommendations and submit a copy of the report to the Commissioner within the time prescribed in Subchapter 7 of this Chapter.