Oklahoma § 6-2110
Full text of Oklahoma Oklahoma Statutes § 6-2110, with citation guidance and answers to common questions.
§ 6-2110.
Minimum net worth.
Oklahoma Statutes - Title 6. Banks and Trust Companies
Each licensee under the Sale of Checks Act shall at all times
maintain a minimum net worth of at least Two Hundred Seventy-five
Thousand Dollars ($275,000.00) in order to issue or sell checks at
one (1) to three hundred (300) locations, Five Hundred Thousand
Dollars ($500,000.00) in order to issue or sell checks at three
hundred one (301) to five hundred (500) locations, One Million Five
Hundred Thousand Dollars ($1,500,000.00) in order to issue or sell
checks at five hundred one (501) to eight hundred (800) locations,
or Three Million Dollars ($3,000,000.00) in order to issue or sell
checks at over eight hundred (800) locations. Net worth must be
demonstrated annually by filing with the Commissioner, at the time
of application for a license and at each time of license renewal,
the most current annual audited financial statement of the licensee
certified by a licensed public accountant holding a permit to
practice in this state or by a certified public accountant. For
purposes of this section, a financial statement shall be deemed to
be current if it is no more than twelve (12) months old. Financial
statements may be submitted to the Commissioner at any time in order
to maintain a current status. The Commissioner may require, upon
request, a more current statement than the last statement submitted
by the licensee.
Added by Laws 1961, p. 428, § 10. Amended by Laws 1988, c. 216, §
7, eff. Nov. 1, 1988; Laws 1998, c. 74, § 2, eff. Nov. 1, 1998; Laws
1999, c. 27, § 11, eff. Nov. 1, 1999.
Frequently Asked Questions About Oklahoma § 6-2110
What does Oklahoma Statutes § 6-2110 cover?
Section 6-2110 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 § 6-2110?
A common citation format is "Oklahoma Statutes § 6-2110" (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 § 6-2110 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.