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OK SB620
Bill
AI Summary
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Amends 6 O.S. 2011, Section 1706 regarding activities exempt from trust business charter requirements under the Multistate Trust Institutions Act.
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Removes the requirement for a $50,000 performance bond for trust companies formed to hold and transfer aircraft registration title or Federal Aviation Administration registrations.
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Preserves existing exemptions for activities including agent services for trust institutions, attorney services, real estate brokerage, securities transactions, insurance sales, and higher education endowment fund management.
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Becomes effective November 1, 2015.
Legislative Description
Multistate Trust Institutions Act; removing certain bond requirement. Effective date.
Last Action
Second Reading referred to Judiciary
2/3/2015
Committee Referrals
Judiciary2/3/2015
Full Bill Text
No bill text available