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Deferred Deposit Lenders


STATUTES & RULES:   Title 59 O.S. §§ 3101-3119  - Deferred Deposit Lender Licensing Act

Oklahoma Administrative Code: Title 160, Chapters 1, 3, 5 and 70 (Click link and select "VIEW CODE", then Title 160 Department of Consumer Credit

DESCRIPTION:This license allows a 12 to 45 day loan up to $500 by accepting a dated instrument and agreeing to hold the instrument for a period of time.
 

TIME FRAME TO ISSUE:The approval process for this license may require up to 90 days to complete.
 

FEES:The fees for this license include a $700.00 investigation fee, $350.00 license fee and a $500.00 examination fee of books and records.
 

LICENSING PERIOD: Calendar year, all licenses expire December 31st each year.
 

RENEWAL PERIOD: This license may be renewed by submitting renewal documents and fees by December 1st each year.
 

PREREQUISITES: Completed application includes a current financial statement showing net assets of at least $25,000. 

 

2014 DDL Composite Annual Report (2013 Calendar Year)

2012 DDL Composite Annual Report (2011 Calendar Year)

DDL NMLS Transition

Letter Regarding Amended Veritec Transaction Re-open Request form

Sample Repayment Plan

Payday Lending Borrower's Rights

Deferred Deposit Loan - Notice of Cancellation Suggested Language 

2013 Annual Report (2012 Calendar Year)

 


 Oklahoma Department of Consumer Credit
3613 NW 56th Street, Suite 240
Oklahoma City, Oklahoma 73112-4512
Phone: (405) 521-3653 | Fax: (405) 521-6740
In-state Consumer Hotline: (800) 448-4904