§ 3150.9. Transferability and assignability--Change of control requests
Oklahoma Statutes AnnotatedTitle 59. Professions and OccupationsEffective: November 1, 2019
Effective: November 1, 2019
59 Okl.St.Ann. § 3150.9
§ 3150.9. Transferability and assignability--Change of control requests
A. A license issued pursuant to this act1 is not transferable or assignable.
B. 1. The prior written approval of the Administrator of the Department of Consumer Credit is required for the continued operation of a small loan business whenever a change in control of a licensee is proposed. The Administrator may require information deemed necessary to determine whether a new application is required. Reasonable and actual costs incurred by the Administrator in investigating a change-of-control request shall be paid by the person requesting approval. If the person acquiring control of a licensee is already licensed under this act, the person shall notify the Administrator thirty (30) days prior to the acquisition.
Credits
Laws 2019, c. 89, § 11, eff. Nov. 1, 2019.
Footnotes
Title 59, § 3150 et seq.
59 Okl. St. Ann. § 3150.9, OK ST T. 59 § 3150.9
Current with emergency effective legislation through Chapter 125 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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