Bio:
Sam D. Ott is an attorney who specializes in banking and is of counsel with Phillips Murrah P.C. Prior to entering into private practice, Sam was Executive Vice President of Glia Group, Inc., the originator of BankersOnline.com. He was previously General Counsel and Secretary of the Board of BancFirst Corporation and BancFirst. Before his association with BancFirst, Sam served as Assistant General Counsel for The First National Bank and Trust Company of Oklahoma City and General Counsel for both First Interstate Bank of Oklahoma and Boatmen's Bank of Oklahoma.
Contact info:
You can contact Sam by email at sam@dapape.com or by telephone at 405-364-3346.
Questions Answered
01/15/2001
One of your loan customers has been in default for months. You have given all the proper notices and have been trying to locate your collateral, vending machines and other office equipment for over sixty days. A former employee has just informed you of the location of a warehouse which contains the equipment. You make arrangements with the owner of the building to pick up you collateral. Today the bank received notice of your customer's bankruptcy which was filed last week. You want to retrieve the equipment and hold it for the trustee. Is this action permitted under the Bankruptcy Code?
01/15/2001
What is the best way for a bank to disclose their privacy policy if they want to use the 40.13 exception for service providers and joint marketing? Our bank wants to reserve the right to market our products through nonaffiliated third parties if the occasion arises, but we want to avoid having to do "optout" at this point.
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