Oklahoma § 59-3150.9 - Transferability and assignability – Change of control
Full text of Oklahoma Oklahoma Statutes § 59-3150.9 — Transferability and assignability – Change of control, with citation guidance and answers to common questions.
§ 59-3150.9. Transferability and assignability – Change of control
requests.
A. A license issued pursuant to this act is not transferable or
assignable.
B. 1. The prior written approval of the Administrator of the
Department of Consumer Credit is required for the continued
operation of a small loan business whenever a change in control of a
licensee is proposed. The Administrator may require information
deemed necessary to determine whether a new application is required.
Reasonable and actual costs incurred by the Administrator in
investigating a change-of-control request shall be paid by the
person requesting approval. If the person acquiring control of a
licensee is already licensed under this act, the person shall notify
the Administrator thirty (30) days prior to the acquisition.
2. Whenever control is acquired or exercised in violation of
this section, the license shall be deemed revoked as of the date of
the unlawful acquisition of control. The licensee or its
controlling person shall surrender the license to the Administrator
on demand.
Oklahoma Statutes - Title 59. Professions and Occupations
C. A licensee shall notify the Administrator thirty (30) days
before any change in the licensee's principal place of business,
branch office or name.
Added by Laws 2019, c. 89, § 11, eff. Nov. 1, 2019.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 59-3150.9
What does Oklahoma Statutes § 59-3150.9 cover?
Section 59-3150.9 ("Transferability and assignability – Change of control") 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 § 59-3150.9?
A common citation format is "Oklahoma Statutes § 59-3150.9" (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 § 59-3150.9 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.