Instructions For Filing An Application To Increase Or Decrease Capital Stock printable pdf download

Instructions For Filing An Application To Increase Or Decrease Capital Stock

INSTRUCTIONS FOR FILING AN APPLICATION TO

INCREASE OR DECREASE CAPITAL STOCK

Refer to the laws, regulations, policies and procedures contained in Title 6 O.S. Section

405 and Banking Board Rule 85:10-3-10.

Submit one (1) original and one (1) copy of the “Capital Stock Increase/Decrease

Certificate” and an application fee of $250. Make the check payable to the

Oklahoma State Banking Department. Answer all questions completely in the

spaces provided or by attaching additional pages as necessary. Please use 8½” x

11" sheets. If the answer is “no”, “none”, or “not applicable”, so state.

Submit one (1) original and one (1) copy of the proposed amended certificate of

incorporation.

Submit two (2) certified copies of the resolution adopted by a majority of the

stockholders and approved by the board of directors.

NOTE: If the request is for an increase in capital stock, the resolution must state

whether the new stock will be fully paid either in cash or by transfer from

undivided profits or authorized but unissued. If the increase is to be paid in cash,

then the resolution shall declare whether the offering will be a private offering or

a public offering.

If the offering is a public offering, then the applicant must prepare an offering

circular pursuant to the requirements of Banking Board Rule 85:10-13-2.

Submit one (1) signed copy of the stockholders' minutes containing the resolution

for increasing or decreasing the capital stock.

Submit one (1) signed copy of the board minutes containing the resolution for

increasing or decreasing the capital stock.

Within 30 days of receiving the properly executed documents, the Commissioner

will notify the applicant of his decision. If approved, the applicant must file the

documents with the Oklahoma Secretary of State and then submit certified copies

of such filed documents to this office and to the applicant’s primary federal

regulator.

Incomplete applications will not be accepted for filing and will be returned to the

applicant.

August 2010

Instructions For Filing An Application To Increase Or Decrease Capital Stock