§ 6-209. Bank and trust companies - Examinations and reports.

A.  1.  The State Banking Commissioner shall, at least every eighteen (18) months or as often as the Commissioner deems advisable, examine every bank and trust company, and for the purpose of making such examinations and special examinations, shall have full access to all books, papers, securities, records and other sources of information under the control of banks and trust companies.  Upon the conclusion of the examination, the Commissioner may make and file in the office of the Commissioner a report in detail disclosing the results of such examination or may, on conditions prescribed by the Commissioner, prepare a summary memorandum regarding the results of such examination, and shall, upon request by the bank, mail a copy of such report or memorandum to the bank or trust company examined.  However, the Commissioner may accept, in lieu of any three consecutive bank examinations, the examination that may have been made of the bank or trust company within a reasonable period by the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, or other supervisory authority having examination jurisdiction and authority over the bank or trust company provided a copy of the examination, report, or other document prepared as a result of the examination is furnished to the Commissioner.

2.  The Commissioner may also accept any other report relative to the condition of a bank or trust company, to include joint or concurrent examinations which may be obtained by the authorities within a reasonable period, in lieu of such report authorized by the laws of this state to be required of such bank by the Oklahoma State Banking Department, provided a copy of such report is furnished to the Commissioner.

3.  The Commissioner may enter into cooperative, coordinating, and information-sharing agreements with the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, or other supervisory authority having examination jurisdiction and authority over the bank or trust company with respect to the periodic examination or other supervision of any state bank, trust company, or state thrift.

4.  When requested in writing upon authority of the board of directors or stockholders owning a majority of the capital stock of any bank or trust company, the Commissioner shall, if in the opinion of the Commissioner such examination is desirable, make or cause to be made an examination into the affairs and conditions of such bank or trust company.  For such examination such bank or trust company shall pay the same fees as provided for in subsection B of Section 211 of this title.

B.  Every bank shall make four reports each year and more often if called upon by the Commissioner and according to the form which may be prescribed by the Commissioner, and every trust company shall make two reports each year and more often if called upon by the Commissioner and according to the form which may be prescribed by the Commissioner.  They must be verified by the oath or affirmation of the president, cashier or secretary of such bank or trust company, attested by the signatures of at least two of the directors, and shall be retained and made available for inspection upon request of the Commissioner or designated representatives of the Commissioner.  Each such report shall exhibit, in detail and under appropriate headings, the assets and liabilities of the corporation at the close of business on any last day by the Commissioner specified, and shall be transmitted to the Commissioner within thirty (30) calendar days after the call date, and may be published at the expense of the bank or trust company in the same form in which it is made to the Commissioner.  The Commissioner shall also have the power to call for special reports from any bank or trust company whenever, in the judgment of the Commissioner, the same are necessary in order to gain a full and complete knowledge of its condition.  However, the reports authorized and required by this section, to be called for by the Commissioner, shall relate to a date prior to the date of such call to be specified therein.  Additionally, the Commissioner may accept, in lieu of the reports referred to in this section, reports made by banks that are members of the Federal Reserve System on forms provided by the Federal Reserve System or reports submitted by banks to the Federal Deposit Insurance Corporation.

C.  Every bank or trust company which fails to make and transmit any report required within the discretion of the Commissioner, under the Oklahoma Banking Code, shall be subject to a penalty not to exceed Fifty Dollars ($50.00) for each day, after the period respectively therein mentioned, that the bank or trust company delays to make and transmit its report.  Whenever any bank or trust delays or refuses to pay the penalty herein imposed for a failure to make and transmit a report, the Commissioner is hereby authorized to maintain an action in the name of the state against the delinquent bank or trust company for the recovery of such penalty, and all sums collected by such action shall be paid into the Oklahoma State Banking Department revolving fund pursuant to Section 211.1 of this title.

D.  For the purpose of carrying into effect the provisions of this Code, the Commissioner shall provide a form for such examinations and reports, and all examinations and reports received by the Commissioner shall be preserved in the office of the Commissioner for a period of not less than five (5) years.  Such examination and reports and all other records of operating banks and trust companies in the Department are to be kept confidential, except as permitted by this Code.  Copies of such examinations and reports in the possession of an institution under the Department's supervision are the property of the Department and are not subject to disclosure to third parties, including disclosure or production pursuant to subpoena or other request.  All requests for review of such examinations and reports shall be directed to the Department and are subject to the requirements of Section 208 of this title.

Added by Laws 1965, c. 161, § 209.  Amended by Laws 1970, c. 321, § 2; Laws 1977, c. 208, § 2, emerg. eff. June 14, 1977; Laws 1979, c. 173, § 3; Laws 1988, c. 166, § 1, emerg. eff. May 24, 1988; Laws 1994, c. 157, § 4, emerg. eff. May 6, 1994; Laws 1995, c. 36, § 5, eff. July 1, 1995; Laws 1997, c. 111, § 11, eff. July 1, 1997; Laws 1998, c. 145, § 1, eff. Nov. 1, 1998; Laws 1999, c. 27, § 4, eff. July 1, 1999; Laws 2000, c. 205, § 7, emerg. eff. May 17, 2000; Laws 2005, c. 48, § 5, eff. Nov. 1, 2005; Laws 2010, c. 62, § 2, emerg. eff. April 9, 2010; Laws 2013, c. 62, § 5, emerg. eff. April 18, 2013.