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§ 3103. Application of act

Oklahoma Statutes AnnotatedTitle 59. Professions and Occupations

Oklahoma Statutes Annotated
Title 59. Professions and Occupations (Refs & Annos)
Chapter 57. Deferred Deposit Lending Act
59 Okl.St.Ann. § 3103
§ 3103. Application of act
Currentness
A. The scope of this act1 shall not apply to a supervised lender licensed under the Uniform Consumer Credit Code.2 Further, nothing in this act shall modify, affect, alter, change or restrict practices or operations of supervised lenders under the Uniform Consumer Credit Code, rules of the Oklahoma Department of Consumer Credit or rules or interpretations of the Administrator of the Department of Consumer Credit.
B. Except as otherwise provided in subsection A of this section, the provisions of this act shall apply to all deferred deposit loans made; provided, the following lenders shall not be subject to the licensing requirements of this act:
1. A bank, savings institution, credit union or farm credit system organized under and regulated by the laws of the United States or any state;
2. Government or governmental agencies or instrumentalities; or
3. Pawnbrokers engaged in pawn transactions as defined in the Oklahoma Pawnshop Act.3
C. The provisions of this act shall apply to transactions if the lender, wherever located, enters into the transaction with the debtor by mail, brochure, telephone, print, radio, television, Internet, or any other means.

Credits

Laws 2003, c. 240, § 3, eff. Sept. 1, 2003; Laws 2004, c. 557, § 2, emerg. eff. June 10, 2004.

Footnotes

1
Title 59, § 3101 et seq.
2
Title 14A, § 1-101 et seq.
3
Title 59, § 1501 et seq.
59 Okl. St. Ann. § 3103, OK ST T. 59 § 3103
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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