Oklahoma § 6-2106 - Investigation of applicants

§ 6-2106. Investigation of applicants

(a) Upon the filing of an application, the Commissioner shall

investigate the applicant and if he finds that the applicant is of

good moral character and financially responsible and can meet the

requirements of this act, he shall give notice in writing of his

approval of said application to the applicant, who shall within

thirty (30) days post the bond, or securities in lieu thereof,

required by this act, whereupon the Commissioner shall forthwith

issue to the applicant a license to engage in the business of

selling or issuing checks subject to the provisions of this act.

(b) No license shall be issued to an applicant:

1. If a natural person, unless he is over twenty-one (21) years

of age;

2. If a partnership, unless each of the partners is over

twenty-one (21) years of age;

Oklahoma Statutes - Title 6. Banks and Trust Companies

3. If a joint stock association, trust, unincorporated

association or corporation, unless each of the officers, directors,

trustees or other managing officials is over twenty-one (21) years

of age.

(c) No application shall be denied unless the application has

had notice of a hearing on said application and an opportunity to be

heard thereon. If the application is denied, the Commissioner

shall, within thirty (30) days thereafter, prepare and file in his

office a written order of denial which shall contain his findings

and reasons supporting the denial, and shall within ten (10) days

after the filing of such order, notify the applicant and send him a

copy of such order.

Added by Laws 1961, p. 427, § 6.