Okla. Stat. tit. 6 § 421

Current through Laws 2024, c. 453.

Section 421 - Military banking facilities

A. Military banking facilities authorized.

1. Notwithstanding the distance limitations in paragraph 1 of subsection A of Section 415 of this title, any bank located in the State of Oklahoma may, subject to the approval of the Board as evidenced by its certificate, and subject to the approval of the military installation commander as evidenced by a letter of approval, maintain and operate a facility on any military installation located in the State of Oklahoma.

2. Any state bank may maintain and operate a branch on any United States military installation within this state or elsewhere.

B. Certificate to maintain military banking facilities - Notice and hearing - Injunction of prohibited activities.

1. No bank shall be permitted to maintain and operate such military banking facility, except on certificate issued by the Board.

2. The application for a certificate to maintain and operate a military banking facility shall comply with the regulations of the Board. Within twenty (20) days after the conclusions of the hearing the Board shall, in its sole discretion, approve or deny the application and shall notify the applicant of its decision.

3. No banking function shall be performed at the facility save that of accepting deposits, cashing checks, making change, selling bank paper, such as bank drafts, cashier's checks, money orders, traveler's checks, etc., accepting payment for personal utility bills, redeeming and selling United States Savings Bonds, and such other services as the installation commander may request, in writing, of the bank subject to the prior written approval of the Commissioner. Upon the recommendation of the Commissioner, the Attorney General shall bring an appropriate action to enjoin a bank from conducting banking functions at such facility other than those herein granted.

Okla. Stat. tit. 6, § 421

Added by Laws 1965, c. 244, § 1. Amended by Laws 1968, c. 93, § 17, emerg. eff. 4/1/1968; Laws 1996, c. 92, § 5, eff. 6/1/1996.; Amended by Laws 1997, c. 111, § 50, eff. 7/1/1997.