A. One or more persons eligible by the Oklahoma Banking Code or by federal law to own and control a bank or trust company shall file with the State Banking Commissioner, in a method as required by the Commissioner, an application for authority to organize setting forth the information required by Section 305 of this title.
B. Each organizer shall subscribe and pay in full in cash for stock having a total subscription price of not less than one percent (1%) of the minimum capital required by Section 303.1 of this title.
C. An application fee in an amount prescribed by Board rule shall accompany the application. The fee is payable from the organizational expense fund and is nonrefundable.
Added by Laws 1965, c. 161, § 303. Amended by Laws 1967, c. 258, § 1; Laws 1970, c. 321, § 6; Laws 1971, c. 352, § 6; Laws 1982, c. 204, § 4; Laws 1990, c. 173, § 2, emerg. eff. May 3, 1990; Laws 1997, c. 111, § 20, eff. July 1, 1997; Laws 2000, c. 205, § 11, emerg. eff. May 17, 2000; Laws 2001, c. 55, § 1, eff. Nov. 1, 2001.
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