Can you summarize OKAC 735:80?
The first legal document governs the disposition of unclaimed property other than cash in Oklahoma, allowing the State Treasurer to dispose of unclaimed property without commercial value and outlining the rights of the original owner or their heirs. The second legal document governs the process of resolving conflicting claims and the payment of claims paid in error. The third legal document outlines the verification and approval process for claims of unclaimed property.
Can you summarize OKAC 85:1?
The provided legal document content pertains to the Oklahoma Administrative Code related to the State Banking Department. It covers various procedural rules and processes, including filing a petition for a declaratory ruling, the complaint procedure for consumers, filing petitions for rulemaking, issuance of subpoenas, attendance of witnesses, pre-hearing conferences, production of documents, and service of pleadings in administrative proceedings. The document also provides definitions for terms used in the Oklahoma Administrative Code related to the State Banking Department.
Can you summarize OKAC 85:10-11-12?
In order that the books and records of a bank or trust company reflect its contingent liabilities, the bank or trust company shall properly maintain records on all letters of credit issued and outstanding showing the following information: (1) Controlled registration numbering system; (2) Name of the account party for whom the letter of credit is established; (3) the name of the beneficiary; (4) the amount; and (5) the expiration date.
Can you summarize OKAC 85:10-11-16?
This legal document governs the deposit and safekeeping agreements and fees between banks and their customers. It establishes a debtor-creditor relationship between the bank and the customer based on the agreement executed or adopted by the customer. The document allows banks to charge reasonable fees for account and safekeeping services, even if the specific terms of the contract are silent on service charges. It also states that interest on a deposit may or may not be paid on a dormant account, as determined by the bank’s board policy.
Can you summarize OKAC 85:10-11-4?
(a) Lease. For purposes of Section 1302 of the Code, the term ‘receipt’ shall mean a copy of the lease contract but does not mean that the lessor must provide a receipt for any or all items deposited in a safe deposit box. (b) Requirements. Each lessor that provides safe deposit box services for its customers shall: (1) Maintain a record as to the lessee(s) of each box rented. (2) Maintain a record as to the person or persons permitted to enter the box () with minimum data consisting of names of entries into the box and dates of entry.
Can you summarize OKAC 85:10-11-5?
Any state bank is authorized to pay interest on deposits at rates authorized by its board of directors and not otherwise prohibited by the law of this state or by federal law. [ Source: Amended at 25 Ok Reg 1064, eff 5-25-08]
Can you summarize OKAC 85:10-3-20?
This legal document governs bank or trust-related activities conducted by institutions or organizations directed to or offered to residents of Oklahoma in a public manner. It defines bank or trust-related activities for banks, bank holding companies, trust companies, and their affiliates domiciled outside Oklahoma, as well as for business organizations that are not banks, bank holding companies, or trust companies. The document requires institutions or organizations conducting bank or trust-related activities without a certificate of authority in Oklahoma to file a Registration Statement with the Commissioner prior to engaging in such activities and annually thereafter.
Can you summarize OKAC 85:10-3-21?
This document governs the fees associated with various applications and transactions related to state banks and trust companies. It applies to applicants for authority to organize a state bank or trust company, applicants for change of location, applicants for approval of operating or financial subsidiaries, applicants for certificate to maintain and operate a branch, applicants for abandonment or exercise of trust powers, applicants for merger, applicants for purchase and assumption agreements, and applicants for registration statements.
Can you summarize OKAC 85:10-9-4?
[ Source: Amended at 14 Ok Reg 3559, eff 8-1-97 (emergency); Amended at 15 Ok Reg 2952, eff 7-15-98; Revoked at 25 Ok Reg 1064, eff 5-25-08]
Can you summarize OKAC 85:10-9-7?
This legal document, found in the Oklahoma Administrative Code, specifically in the State Banking Department section, pertains to the supervision, regulation, and administration of banks, trust companies, and the Oklahoma Banking Code. It defines the terms ‘main office’ and ‘branch office’ in relation to loan decision and loan funding, to include ‘back office facility’ operations. A ‘back office facility’ refers to a bank facility that is not accessible to or visited by the public.