§ 3150.1. Definitions
Oklahoma Statutes AnnotatedTitle 59. Professions and OccupationsEffective: November 1, 2019
Effective: November 1, 2019
59 Okl.St.Ann. § 3150.1
§ 3150.1. Definitions
As used in this act, unless the context requires otherwise:
3. “Control” means possession, directly or indirectly, of the power to direct or cause the direction of management and policies of a person, whether through ownership of voting securities, by contract or otherwise. No individual shall be deemed to control a person solely on account of being a director, officer or employee of the person. For purposes of this paragraph, a person who directly or indirectly owns, controls, holds the power to vote or holds proxies representing twenty-five percent (25%) or more of the current outstanding voting securities issued by another person is presumed to control the other person, and the Administrator may determine whether a person, in fact, controls another person;
7. “Licensee” means a person licensed to offer small loans pursuant to this act;1
a. the failure of a customer to make a required payment within a certain number of days of the due date as agreed upon by the licensee and the customer per the small loan agreement; provided, that such agreed-upon number of days not exceed sixty-one (61) days after a failure to make a required payment on the due date, or
Credits
Laws 2019, c. 89, § 3, eff. Nov. 1, 2019.
Footnotes
Title 59, § 3150 et seq.
59 Okl. St. Ann. § 3150.1, OK ST T. 59 § 3150.1
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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