1. A. The Oklahoma Savings and Loan Board is hereby abolished. The power, duties and responsibilities exercised by the Oklahoma Savings and Loan Board shall be transferred to the State Banking Commissioner. All unexpended funds, property, records, personnel and outstanding financial obligations and encumbrances of the Oklahoma Savings and Loan Board are hereby transferred to the State Banking Department.
2. B. Any reference to the Oklahoma Savings and Loan Board in the Oklahoma Statutes or in rules and regulations promulgated pursuant to the Oklahoma Statutes shall mean the State Banking Commissioner.
3. C. The rules and regulations promulgated by the Oklahoma Savings and Loan Board prior to the effective date of this act shall continue in effect until such rules and regulations are amended or repealed by rule of the State Banking Commissioner promulgated pursuant to the provisions of Article I of the Administrative Procedures Act, Section 250.3 et seq. of Title 75 of the Oklahoma Statutes.

Laws 1970, HB 1543, c. 101, § 5, emerg. eff. June 1, 1970; Amended by Laws 1988, HB 1743, c. 65, § 4, emerg. eff. March 25, 1988; Amended by Laws 1993, SB 31, c. 183, § 31, emerg. eff. July 1, 1993.