Oklahoma § 24-143 - Fees - Administrator's investigation - Issuance or denial

§ 24-143. Fees - Administrator's investigation - Issuance or denial

of license.

A. Upon the filing of an application and bond, payment of an

annual license fee and an investigation fee, the Administrator of

Consumer Credit shall conduct an investigation. If the

Administrator finds that the financial responsibility, experience,

character and general fitness of the applicant are such as to

warrant belief that the business will be operated pursuant to the

Credit Services Organization Act and rules promulgated pursuant

thereto, the Administrator shall grant the application and issue to

the applicant a license which will evidence the authority of the

applicant to do business under the provisions of the Credit Services

Organization Act.

B. If the Administrator does not so find facts sufficient to

warrant issuance of a license, the Administrator shall notify the

applicant. If within thirty (30) days of such notification the

applicant requests a hearing on the application, a hearing shall be

held within sixty (60) days after the date of the request. In the

event of the denial of a license, the investigation fee shall be

retained by the Administrator, but the annual license fee shall be

returned to the applicant.

Oklahoma Statutes - Title 24. Debtor and Creditor

C. The Administrator shall grant or deny such application for

license within sixty (60) days from its filing with the required

fees, or from the hearing thereon, if any, unless the period is

extended by written agreement between the applicant and the

Administrator.

D. No license to engage in the business of a credit services

organization shall be issued for any location if a license has been

issued and is in effect under the provisions of Sections 3-501

through 3-514 of Title 14A of the Oklahoma Statutes. As used in

this subsection the term "location" means the entire area in which a

person licensed pursuant to any provision of Title 14A of the

Oklahoma Statutes conducts business. No credit service organization

may be connected with any location in which a person licensed

pursuant to any provision of Title 14A of the Oklahoma Statutes

conducts business, except by a passageway to which the public is not

admitted.

E. The Commission on Consumer Credit may prescribe by rule a

fee for each license change, duplicate license or returned check.

Added by Laws 1987, c. 208, § 48, operative July 1, 1987. Amended

by Laws 1987, c. 236, § 74, emerg. eff. July 20, 1987; Laws 2010, c.

415, § 10, eff. July 1, 2010.