Oklahoma § 59-3112 - License required - Separate license required for each

§ 59-3112. License required - Separate license required for each

business location.

A. No person may engage in the business of making deferred

deposit loans without first obtaining a license pursuant to this

act, unless exempt under subsection B of Section 3 of this act. A

separate license is required for each location where deferred

deposit loans are made. The licensee shall post its license to

engage in the business of making deferred deposit loans at each

licensed location.

B. The Administrator may initiate administrative action against

an unlicensed person as if the person held a license under this act

if the person is found to be engaged in the business of making

deferred deposit loans.

C. The Administrator may issue a license for each location at

which deferred deposit loans are to be made to any person making

deferred deposit loans at multiple locations; provided, if such

licensee is not in compliance with this act as to each license, any

action to revoke, suspend or not renew one license shall be

applicable to all licenses issued to that licensee. This subsection

shall not be construed to require a license for any place of

business devoted to accounting or other record keeping and where

deferred deposit loans are not made.

D. When a licensee wishes to move a licensed location to

another licensed location, the licensee shall give thirty (30) days’

written notice to the Administrator, who shall amend the license

accordingly.

Added by Laws 2003, c. 240, § 12, eff. Sept. 1, 2003.