Oklahoma Administrative Code
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 85:10-5-3 - Minimum control elements for bank internal control program

(1) A requirement that each officer and employee, when eligible for vacation, be absent from the institution at least five consecutive banking days each calendar year, unless otherwise approved in writing by the bank's bonding company for bank officers and employees generally and then each officer and employee who may be excepted from this requirement must be specifically approved by the bank's board of directors and it shall be recorded in the board of director's minutes, that the officer or the employee may be absent less than the five consecutive banking days. During the absence of an officer or employee, the duties of the absent officer or employee must be performed by other bank officers and employees.

(2) A requirement that periodic reports be made to the board of directors, which must contain at least the minimum information described in 85:10-5-4.

(3) Require the control officer or auditor to periodically, as frequently as necessary but no less often than stated herein, perform or supervise performance of:

(4) Establish the maximum cash exposure the institution will have. This should include not only the total but the maximum amounts to be in each teller's unit.

(5) Establish a procedure for security of vault cash and for collateral held by the bank or trust company.

(6) Establish a procedure for dual control for the reserve stocks of all official checks, consigned items, and the reserve stocks of other items in the bank.

(7) All requirements of this section that are met, should be documented in writing, so that evidence exists that will substantiate to an examiner that this Section's requirements are being met.