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53	53	STATE OF OKLAHOMA
54	54
55	55	1st Session of the 59th Legislature (2023)
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57	57	SENATE BILL 1001 By: Jett
58	58
59	59
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63	63	AS INTRODUCED
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65	65	An Act relating to banks; amending 6 O.S. 2021,
66	66	Section 209, which relates to examinatio ns and
67	67	reports; requiring banks to make a report to the
68	68	State Banking Commissioner regarding engagement with
69	69	the Internal Revenue Service; making report available
70	70	to members of the Legislature upon request; and
71	71	providing an effective date .
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77	77	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
78	78	SECTION 1. AMENDATORY 6 O.S. 2021, Section 209, is
79	79	amended to read as follows:
80	80	Section 209. A. 1. The State Banking Commissioner shall, at
81	81	least every eighteen (18) months or a s often as the Commissioner
82	82	deems advisable, exami ne every bank and trust company, and for the
83	83	purpose of making such examinations and special examinations, shall
84	84	have full access to all books, papers, securities, recor ds, and
85	85	other sources of information under the control of banks and trust
86	86	companies. Upon the conclusion of the examination, the Commissioner
87	87	may make and file in the office of the Commissioner a report in
88	88	detail disclosing the results of such examination or may, on
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140	140	conditions prescribed by the Commissioner, prepare a summary
141	141	memorandum regarding the results of such examination, and shall,
142	142	upon request by the bank, mail a copy of such report or memorandum
143	143	to the bank or trust company examined. However, th e Commissioner
144	144	may accept, in lieu of any three consecutive bank examinations, the
145	145	examination that may have been made of the bank or trust compa ny
146	146	within a reasonable period by the Federal Deposit Insurance
147	147	Corporation, the Board of Governors of the Feder al Reserve System,
148	148	or other supervisory authority having examination jurisdiction and
149	149	authority over the bank or trust company provided a copy of the
150	150	examination, report, or other document prepared as a result of the
151	151	examination is furnished to the Commiss ioner.
152	152	2. The Commissioner may also accept any other report relative
153	153	to the condition of a bank or trust company, to include joint or
154	154	concurrent examinations which may be obtained by the authorities
155	155	within a reasonable period, in lieu of such report autho rized by the
156	156	laws of this state to be required of such bank by the Oklahoma State
157	157	Banking Department, provided a copy of such report is furnished to
158	158	the Commissioner.
159	159	3. The Commissioner may enter into cooperative, coordinating,
160	160	and information-sharing agreements with the Federal Deposit
161	161	Insurance Corporation, the Board of Governors of the Federal Reserve
162	162	System, or other supervisory authority hav ing examination
163	163	jurisdiction and authority over the bank or trust company with
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215	215	respect to the periodic examinat ion or other supervision of any
216	216	state bank, trust company, or state thrift.
217	217	4. When requested in writing upon authority of the board of
218	218	directors or stockholders owning a majority of the capital stock of
219	219	any bank or trust company, the Commissioner shall, if in the opinion
220	220	of the Commissioner such examination is desirable, make or cause to
221	221	be made an examination into the affairs and conditions of s uch bank
222	222	or trust company. For such examination such bank or trust company
223	223	shall pay the same fees as provided for in subsection B of Section
224	224	211 of this title.
225	225	B. Every Except as provided in subs ection E of this section,
226	226	every bank shall make four reports each year and more often if
227	227	called upon by the Commissi oner and according to the form which may
228	228	be prescribed by the Commissioner, and every trus t company shall
229	229	make two reports each year and mor e often if called upon by the
230	230	Commissioner and according to the form which may be prescribed by
231	231	the Commissioner. T hey must be verified by the oath or affirmation
232	232	of the president, cashier or secretary of such bank or trust
233	233	company, attested by the signat ures of at least two of the
234	234	directors, and shall be retained and made available for inspection
235	235	upon request of the C ommissioner or designated representatives of
236	236	the Commissioner. Each such report shall exhibit, in detail and
237	237	under appropriate headings, th e assets and liabilities of the
238	238	corporation at the close of business on any last day by the
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290	290	Commissioner specified, and shall be transmitted to the Commissioner
291	291	within thirty (30) calendar days after the ca ll date, and may be
292	292	published at the expense of th e bank or trust company in the same
293	293	form in which it is made to the Commissioner. The Commissioner
294	294	shall also have the power to call for special reports from any bank
295	295	or trust company whenever, in the judg ment of the Commissioner, the
296	296	same are necessary i n order to gain a full and complete knowledge of
297	297	its condition. However, the reports authorized and required by thi s
298	298	section, to be called for by the Commissioner, shal l relate to a
299	299	date prior to the date of such call to be specified therein.
300	300	Additionally, the Commissioner may accept, in lieu of the reports
301	301	referred to in this section, reports made by banks that are m embers
302	302	of the Federal Reserve System on forms provide d by the Federal
303	303	Reserve System or re ports submitted by banks to the Federal Deposit
304	304	Insurance Corporation.
305	305	C. Every bank or trust company which fails to make and transmit
306	306	any report required within the discretion of the Commissioner, under
307	307	the Oklahoma Banking Code, shall be subject to a pe nalty not to
308	308	exceed Fifty Dollars ($50.00) for eac h day, after the period
309	309	respectively therein mentioned, that the bank or trust company
310	310	delays to make and transmit i ts report. Whenever any bank or trust
311	311	delays or refuses to pay the penalty herein imposed for a failure to
312	312	make and transmit a report, the Commissioner is hereby authorized to
313	313	maintain an action in the name of the state against the delinquent
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365	365	bank or trust company for the recovery of such penalty, and all s ums
366	366	collected by such action shall be paid into the Oklahoma State
367	367	Banking Department r evolving fund pursuant to Section 211.1 of this
368	368	title.
369	369	D. For the purpose of carrying into effect the provisions of
370	370	this Code, the Commissioner shall provide a form for such
371	371	examinations and reports, and a ll examinations and reports received
372	372	by the Commissioner shall be preserved in the office of the
373	373	Commissioner for a period of not less than five (5) years. Such
374	374	examination and reports and all other records of operatin g banks and
375	375	trust companies in the De partment are to be kept confidential,
376	376	except as permitted by this Code. Copies of such examinations and
377	377	reports in the possession of an institution under the Departm ent’s
378	378	supervision are the property of the Department and are not subject
379	379	to disclosure to third parties, including disclosure or production
380	380	pursuant to subpoena or other request. All requests for review of
381	381	such examinations and reports shall be directed t o the Department
382	382	and are subject to the requirements of Section 208 of this title.
383	383	E. Every bank shall make a report each year and more oft en if
384	384	called upon by the Commissioner and according to the form which may
385	385	be prescribed by the Commissioner detailing all occurrences of
386	386	engagement with the Internal Rev enue Service, including requests of
387	387	information on citizen s of this state. The reports provided
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439	439	pursuant to this subsection shall be made available to the members
440	440	of the Senate and the House of Representatives upon request.
441	441	SECTION 2. This act shall become effective November 1, 2023.
442	442
443	443	59-1-112 QD 1/19/2023 12:15:18 PM

Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1001 Compare Versions