Oklahoma Administrative Code
Title 85 - State Banking Department
Chapter 10 - Supervision, Regulation, and Administration of Banks, Trust Companies, and the Oklahoma Banking Code
Subchapter 3 - Departmental Requirements
Section 85:10-3-2 - Report of change of controlling interest
Universal Citation: OK Admin Code 85:10-3-2
Current through Vol. 41, No. 13, March 15, 2024
(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.
Amended at 25 Ok Reg 1064, eff 5-25-08
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