Oklahoma § 59-3101.1 - Termination of licenses upon implementation of Oklahoma
Full text of Oklahoma Oklahoma Statutes § 59-3101.1 — Termination of licenses upon implementation of Oklahoma, with citation guidance and answers to common questions.
§ 59-3101.1. Termination of licenses upon implementation of Oklahoma
Small Lenders Act.
Any person licensed pursuant to the Deferred Deposit Lending Act
may make application for licensure under the Oklahoma Small Lenders
Act beginning on January 1, 2020. Beginning on and after August 1,
2020, no new deferred deposit loan may be entered into or transacted
by a licensee or other person; provided, however, a licensed
deferred deposit lender may continue to administer and collect all
outstanding deferred deposit loan payments on all loans transacted
before August 1, 2020, until such loans are paid in full according
to the terms of the written loan agreements, at which time the
licensee's authority under the Deferred Deposit Lending Act shall
terminate and expire notwithstanding any period remaining on an
existing deferred deposit lender's license. All Deferred Deposit
Lending Act licenses shall be terminated and be deemed to have
expired on August 1, 2020, upon the implementation of the Oklahoma
Small Lenders Act, except as provided herein.
Added by Laws 2019, c. 89, § 1, eff. Nov. 1, 2019.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 59-3101.1
What does Oklahoma Statutes § 59-3101.1 cover?
Section 59-3101.1 ("Termination of licenses upon implementation of Oklahoma") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 59-3101.1?
A common citation format is "Oklahoma Statutes § 59-3101.1" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 59-3101.1 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.