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[¶11,991] In the Matter of Donna G. Otey, Chickasha Bank & Trust Company,
Chickasha, Oklahoma, Docket No. 01-104e (12-4-02).
Respondent prohibited from participating in the conduct of affairs of,
or exercising voting rights in, any insured institution without the
prior written approval of the FDIC.
[.1] Prohibition, Removal or SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal or SuspensionProhibition FromVoting Rights,
Exercise of
In the Matter of
DONNA G. OTEY,
individually, and as an
institutionally affiliated party of
CHICKASHA BANK & TRUST COMPANY,
CHICKASHA, OKLAHOMA
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-01-104e
Donna G. Otey ("Respondent") has been advised of the right
to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER PARTICIPATION
("NOTICE") issued by the Federal Deposit Insurance Corporation
("FDIC") detailing the unsafe or unsound banking practices,
and/or breaches of fiduciary duty for which an ORDER OF PROHIBITION
FROM FURTHER PARTICIPATION ("ORDER") may issue, and has been
further advised of the right to a hearing on the alleged charges under
section 8(e) of the Federal Deposit Insurance Act ("Act"), 12
U.S.C. §1818(e), and the FDIC's Rules of Practice and Procedure, 12
C.F.R. Part 308. Having waived those rights, the Respondent entered
into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF
PROHIBITION FROM FURTHER PARTICIPATION ("CONSENT AGREEMENT") with
a representative of the Legal Division of the FDIC, whereby solely for
the purpose of this proceeding and without admitting or denying any
unsafe or unsound banking practices, and/or any breaches of fiduciary
duty, Respondent consented to the issuance of an ORDER by the FDIC.
The FDIC considered the matter and determined it had reason to believe
that:
(a) The Respondent has engaged or participated in unsafe or unsound
banking practices and/or breaches of fiduciary duty as an
institution-affiliated party of Chickasha Bank & Trust Company,
Chickasha, Oklahoma;
(b) By reason of such unsafe or unsound banking practices and/or
breaches of fiduciary duty, the interests of the Bank's depositors
have been or could be prejudiced and/or Respondent received financial
gain or other benefit; and
(c) Such unsafe or unsound banking practices and/or breaches of
fiduciary duty involve personal dishonesty on the part of the
Respondent or demonstrate the Respondent's willful and/or continuing
disregard for the safety or soundness of the Bank.
The FDIC further determined that such unsafe or unsound banking
practices and/or breaches of fiduciary duty demonstrate the
Respondent's unfitness to serve as a director, officer, person
participating in the conduct of the affairs or as an
institution-affiliated party of the Bank, any other insured depository
institution, or any other agency or organization enumerated in section
8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A).
The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the
following:
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Donna G. Otey is hereby, without the prior written approval of
the FDIC and the appropriate Federal financial institutions regulatory
agency, as that term is defined in section 8(e)(7)(D) of the Act, 12
U.S.C. §1818(e)(7)(D), prohibited from:
[.1]1. (a) participating in any manner in the conduct of the affairs of any
financial institution or organization enumerated in section
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8(e)(7)(A)
of the Act, 12 U.S.C. §1818(e)(7)(A);
[.2]2. (b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
respect to any voting rights in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A);
(c) violating any voting agreement previously approved by the
appropriate Federal banking agency; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. This ORDER will become effective upon its issuance by the FDIC. The
provisions of this ORDER will remain effective and enforceable except
to the extent that, and until such time as, any provision of this ORDER
shall have been modified, terminated, suspended, or set aside by the
FDIC.
Pursuant to delegated authority.
Dated this 4th day of December, 2002.