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| Title 6. Banks and Trust Companies |
Oklahoma Statutes Citationized
Title 6. Banks and Trust Companies
Chapter 1 - Oklahoma Banking Code
Article Article II - Banking Department
Section 207 - Judicial Review of Orders of the Banking Board or the Commissioner
Cite as: O.S. §, __ __
A. Final orders of the Board or the State Banking Commissioner may be appealed to the Supreme Court of Oklahoma by any party directly affected and showing aggrievement by the order. A mere increase in competition resulting from the order shall not constitute aggrievement.
B. An appeal shall be commenced by filing with the clerk of the Supreme Court, within thirty (30) days from the date of the order or decision, a petition in error with a copy of the order or decision appealed from. The time limit prescribed herein for filing the petition in error may not be extended. The manner of perfection of the record of the proceedings to be reviewed and the time for its completion shall be in accordance with rules prescribed by the Supreme Court.
C. 1. A necessary jurisdictional prerequisite to the acceptance of the appeal by the Supreme Court shall include an affirmative showing of aggrievement from the record, by reference in the petition in error, which cannot be a mere increase in competition.
2. The appeal must be perfected by the posting of a bond by the appellant in a reasonable amount not to exceed the amount of reasonably projected gross income for four (4) years in the case of a branch, relocation, merger or acquisition, or an amount equal to the capital, surplus and undivided profits required to be paid in the case of a new charter. When the order being appealed is that of the Banking Board, the Board, in its sole discretion, shall set the amount of the bond. When the order being appealed is that of the Commissioner, the Commissioner, in the sole discretion of the Commissioner, shall set the amount of the bond. It is the obligation of the appellant to request that a bond amount be set and such request shall not postpone or extend the time period in which an appeal must be filed with the Oklahoma Supreme Court.
3. In the event the appellant is not the prevailing party in the appeal, the prevailing party may apply for an order assessing the bond in the amount demonstrated by such party to have been lost by reason of the delay caused by the appeal. The amount shall be based on the income projections in the original proceeding found to have been reasonable. The prevailing party shall make such application to the Board if the original order was issued by the Board or shall make such application to the Commissioner if the original order was issued by the Commissioner.
D. The Court shall give great weight to findings made and inferences drawn by the Board or Commissioner on questions of fact. The Court may affirm the decision or remand the case for further proceedings. Additionally, the Court may reverse or modify the decision if substantial rights of the appellant have been prejudiced because the findings, inferences or conclusions are not supported by substantial evidence in the record.
Historical Data
Added by Laws 1965, SB 1, c. 161, § 207; Amended by Laws 1970, SB 581, c. 316, § 1, emerg. eff. April 27, 1970; Amended by Laws 1978, SB 500, c. 161, § 1; Amended by Laws 1980, SB 556, c. 360, § 3, emerg. eff. June 27, 1980; Amended by Laws 1982, SB 583, c. 204, § 1; Amended by Laws 1995, HB 1454, c. 36, § 3, emerg. eff. July 1, 1995; Amended by Laws 1997, HB 2173, c. 111, § 9, emerg. eff. July 1, 1997 (superseded document available); Amended by Laws 1999, HB 1326, c. 27, § 3, emerg. eff. July 1, 1999 (superseded document available); Amended by Laws 2000, HB 2676, c. 205, § 4, emerg. eff. May 17, 2000 (superseded document available).
Citationizer© Summary of Documents Citing This Document| Cite | Name | Level |
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| None Found. |