Oklahoma § 6-2107 - Annual license fees - Renewals - Display of license

§ 6-2107. Annual license fees - Renewals - Display of license

certificate - Exception.

A. Before any license is issued or renewed, the applicant or

licensee shall pay an annual license fee in the amount of Two

Hundred Dollars ($200.00), plus Ten Dollars ($10.00) for each

location within this state at which checks of the licensee are

issued or sold. With respect to license renewals, every licensee,

on or before each June 1, shall pay the annual license fee for the

succeeding fiscal year commencing July 1.

B. The State Banking Commissioner shall issue a license

certificate to a licensee satisfying the requirement therefor. The

license certificate shall be displayed prominently and be available

for inspection upon demand at each location of the licensee at which

checks of the licensee are to be issued or sold. It shall be the

responsibility of the licensee to provide a copy of the original

license certificate to the agent at each location for display. Any

location failing to display a license certificate may be prohibited

by the Commissioner from selling checks if the agent at such

location fails or refuses to comply with such display requirement

after receipt of written notice from the Commissioner. The

Commissioner shall provide the licensee with a copy of the written

notice and shall also notify the licensee in writing of any

additional action proposed or taken by the Commissioner.

C. A license issued hereunder shall remain in effect until

surrendered by the licensee or revoked, and may be renewed from year

to year upon payment of the fee required in subsection A of this

section, provided the licensee continues to comply with all

provisions of Section 2101 et seq. of this title and of all

regulations hereunder.

D. The requirements of this section shall not apply to those

locations where checks of the licensee are issued or sold which are

governmental departments or financial institutions fully exempt from

Oklahoma Statutes - Title 6. Banks and Trust Companies

the provisions of the Sale of Checks Act pursuant to Section 2104 of

this title.

E. Fees collected pursuant to this section shall be deposited

in the Oklahoma State Banking Department revolving fund pursuant to

Section 211.1 of this title.

Added by Laws 1961, p. 427, § 7. Amended by Laws 1982, c. 223, §

14; Laws 1988, c. 216, § 5, eff. Nov. 1, 1988; Laws 1990, c. 104, §

2, eff. Sept. 1, 1990; Laws 1993, c. 183, § 27, eff. July 1, 1993;

Laws 1998, c. 74, § 1, eff. Nov. 1, 1998; Laws 1999, c. 27, § 10,

eff. July 1, 1999; Laws 2000, c. 205, § 26, emerg. eff. May 17,

2000.