§ 3150.2. License required--Eligibility for licensure
Oklahoma Statutes AnnotatedTitle 59. Professions and OccupationsEffective: November 1, 2019
Effective: November 1, 2019
59 Okl.St.Ann. § 3150.2
§ 3150.2. License required--Eligibility for licensure
A. Beginning on August 1, 2020, no person shall engage in the business of making small loans as defined in this act, unless the person is licensed by the Department of Consumer Credit as provided by this act. A person shall be deemed to be engaged in the business of making small loans in this state if the person regularly makes loans for a fee or induces a consumer, while located in this state, to enter into a small loan in this state through the use of facsimile, telephone, Internet or other means. A separate license shall be required for each location from which the business of making small loans is conducted.
B. Any nonresident person seeking licensure under this act shall furnish the Administrator of the Department of Consumer Credit with the name and address of a resident of this state upon whom notices or orders issued by the Administrator, or process affecting a licensee under this act,1 may be served. A nonresident licensee shall notify the Administrator in writing of any change in its designated agent for service of process as provided in paragraph 2 of Section 5 of this act,2 and the change shall not become effective until approved by the Administrator.
Credits
Laws 2019, c. 89, § 4, eff. Nov. 1, 2019.
59 Okl. St. Ann. § 3150.2, OK ST T. 59 § 3150.2
Current with emergency effective legislation through Chapter 182 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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