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ALBRIGHT TITLE & TRUST v. OKL. BANKING BD.

No. 63226.

737 P.2d 925 (1987)

ALBRIGHT TITLE & TRUST COMPANY, of Newkirk, Oklahoma, Appellant, v. The BANKING BOARD OF the STATE OF OKLAHOMA, comprised of Emory S. Crowe, Don B. Donaldson, John T. Hannah, Loretta Y. Jackson, George W. Lowry and Chairman R.Y. Empie, Appellees.

Supreme Court of Oklahoma.

May 5, 1987.

Attorney(s) appearing for the Case

D. Kent Myers, Anton J. Rupert, Crowe & Dunlevy, Oklahoma City, for appellant.

Mary Beth Guard, State Banking Dept., Oklahoma City, for appellees.

ALMA WILSON, Justice:

The issue in this case is whether a trust company incorporated prior to the enactment of the Oklahoma Banking Code of 1965 is allowed to receive general deposits, a power which is not authorized by the Banking Code.1 Albright Title & Trust Company [Albright], the appellant, was incorporated in 1916. Albright's articles of incorporation state as one of its purposes "To...

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