STATE OF OKLAHOMA

1st Session of the 54th Legislature (2013)

SENATE BILL 1043	By:	Johnson (Rob)

AS INTRODUCED

An Act relating to corporations; amending 18 O.S. 2011, Section 381.5a, which relates to Savings and Loan Advisory Council; modifying membership; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     AMENDATORY     18 O.S. 2011, Section 381.5a, is amended to read as follows:
Section 381.5a.  A.  There is hereby created the "Savings and Loan Advisory Council" which shall advise the State Banking Commissioner on matters relating to the regulation of savings and loan associations in this state.  The Council shall consist of five (5) seven (7) members, appointed by the Commissioner.  At least three four of the members shall have been actively engaged as officers in the management of a state-chartered savings and loan association.  Members shall serve at the pleasure of the Commissioner.
B.  The Council shall meet at the call of the Commissioner.  Members shall select a chairman at their first meeting and annually thereafter.  A majority of the Council shall constitute a quorum for the transaction of business.
SECTION 2.  This act shall become effective November 1, 2013.

54-1-732	TEK	1/17/2013 7:01:49 PM