Bill Proposes Changes in State Banking Laws/including Interstate Bids

By Paschal, Jan | THE JOURNAL RECORD, February 25, 1987 | Go to article overview

Bill Proposes Changes in State Banking Laws/including Interstate Bids


Paschal, Jan, THE JOURNAL RECORD


A bill amending Oklahoma's interstate banking law - by ending the preference for Oklahoma bidders over out-of-state bidders on failed and failing banks - was passed Tuesday without debate by the Senate Finance Committee.

Senate Bill 117, authored by Sen. Roy Boatner, D-Calera, also proposes three other major changes in state banking regulations:

- A "Delaware law" provision would enable a bank's shareholders to reduce or eliminate liability for outside bank directors.

- State-chartered banks could own "other real estate," generally collateral acquired through foreclosure, for up to 10 years, with the state banking commissioner's permission, in order to avoid being forced to sell that real estate at a time when the market already was crowded.

- Oklahoma County banks could acquire branches within five miles of their home offices.

Bill Crutcher, lobbyist for the Oklahoma Bankers Association, explained why the amendment to the interstate banking law was needed.

"The in-state banks had learned how to operate under this," he said.

Crutcher, a former state senator, was referring to the provision in the 1986 law that let Oklahoma banks match or beat bids previously submitted by out-of-state banks on failing financial institutions.

"They just laid back and didn't make a bid," he said. "They let out-of-state banks spend literally thousands of dollars sending a battery of CPAs and attorneys in to examine a bank, and then make their bid.

"Well, out-of-state banks were saying, `No thank you. We're not interested in Oklahoma' because of this."

The Oklahoma Bankers Association expressed its support for such an amendment during public hearings last fall.

The need for such a change is urgent, with 16 Oklahoma bank failures last year and seven so far this year, according to Crutcher.

The two-tiered bidding system, which favors Oklahoma bidders, will become obsolete on July 1, if this amendment becomes law.

It was originally the intent to let that two-tiered bidding system for failed and failing banks expire on July 1, 1987, when the interstate banking act was passed in May 1986, said Robert E. Harris, executive vice president of the statewide banking group .

But that language did not get into the final version of the interstate banking legislation, which was rushed into passage and signed by the governor within 24 hours last May - in an attempt to prevent the imminent failure of a large commercial bank in Tulsa. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Bill Proposes Changes in State Banking Laws/including Interstate Bids
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.