§ 303.1. Capital structure--Preferred stock
Oklahoma Statutes AnnotatedTitle 6. Banks and Trust Companies
6 Okl.St.Ann. § 303.1
§ 303.1. Capital structure--Preferred stock
B. The Commissioner may require additional capital for a proposed bank or, on application in the exercise of discretion consistent with protecting safety and soundness, reduce the amount of minimum capital required for a proposed bank, if the Commissioner finds the proposed scope or type of operations of a proposed bank requires additional, or permits reduced, capital, consistent with the safety and soundness of the bank. To the extent determined by the Commissioner to be relevant, the safety and soundness factors to be considered by the Commissioner in the exercise of discretion include but are not limited to:
D. The issuance of preferred stock by a newly organized bank or trust company may be authorized by the Commissioner. Preferred stock shall have such preferences, powers and rights as the Commissioner may approve. It shall not be retired without the approval of the Commissioner and the requirement of such approval shall be stated in the stock certificates, but the Commissioner may give advance approval to sinking funds payable exclusively out of earnings available for dividends.
Credits
Laws 1965, c. 161, § 302; Laws 1970, c. 321, § 5. Renumbered from Title 6, § 302 and amended by Laws 1982, c. 204, §§ 3, 16. Laws 1988, c. 166, § 3, emerg. eff. May 24, 1988; Laws 1997, c. 111, § 21, eff. July 1, 1997; Laws 2000, c. 205, § 12, emerg. eff. May 17, 2000.
6 Okl. St. Ann. § 303.1, OK ST T. 6 § 303.1
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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