Can you summarize OKAC 85:10?

Short Summary

The provided legal document content covers various aspects of the supervision, regulation, and administration of banks, trust companies, and the Oklahoma Banking Code. It outlines the complaint procedure for reporting violations, the process of ordering evidentiary hearings, and the subsequent actions and appeals. The document also governs the use of promotional materials and sales literature in connection with the offer or sale of securities, including the requirements for offering circulars and mandatory disclosures. It further covers the establishment, relocation, and closing of branches by banks, specifying the necessary steps and exemptions. The document also outlines the minimum examination procedures for banks and trust companies, including the qualifications of examiners and reporting requirements. Additionally, it provides guidelines for internal control programs, internal audits, and reviews in banks and trust companies. The document also covers various aspects of the banking business, such as organizational expenses, fees, merging and converting national banks, changing names and shares, and reporting requirements for changes of control or key personnel. Lastly, it provides definitions and general guidance for the administration of the Oklahoma Banking Code. Overall, these documents apply to interested persons, the Commissioner, respondent banks or trust companies, the Board, and state-chartered banks and trust companies.

Whom does it apply to?

Interested persons, Commissioner, respondent bank or trust company, Board, state-chartered banks and trust companies

What does it govern?

Supervision, regulation, and administration of banks, trust companies, and the Oklahoma Banking Code

What are exemptions?

No specific exemptions are mentioned.

What are the Penalties?

No specific penalties are mentioned in these documents.

Jurisdiction

Oklahoma

Source

OKAC 85:10 [https://reggi.cloud.regology.com/regulations/US-OKAC/US-OKAC_T_85_C_10]

• Banking