Notification Filing Permit

STATUTES & RULES: Oklahoma Statutes: Title 14A § 6-201 (Click "next section" on each page to advance)
Oklahoma Administrative Code: Title 160, Chapters 1,3,and 5 Section 2

DESCRIPTION: For those engaged in consumer sales or services, which finance these services or assign these obligations to third parties.

PROCESS: This filing may by accomplished by contacting the Department of Consumer Credit for an application packet, or by downloading from the links below. Complete the application following the guidelines enclosed. Submit the application, including supporting documentation and proper fee, to the Department of Consumer Credit.

Oklahoma law requires NOTIFICATION filing by entities which do any one of the following:

Allow payments on purchases or services to be made in four or more installments.
Assess a finance charge on accounts.
Take assignment of and undertake direct collection of payments from or enforcement of rights against debtors arising from consumer sales, services, and leases.
Lease personal property to a consumer for a term exceeding four months.
Arrange financing by assignment of a sales contract to a financial institution.

TIME FRAME TO ISSUE: The approval process for this permit may require up to 30 days to complete.

FEES:The initial application fee is $20 for all applicants. The renewal fees are based on the dollar volume loaned annually in $100,000 increments. The fee for the first $100,000 loaned annually is $20, and the additional fee for each $100,000 thereafter is $10.

LICENSING PERIOD: This filing is valid for one year, beginning on February 1^st.

RENEWAL PERIOD: The Department will send a renewal form to the mailing address you supplied with your original application. Please notify us of any changes in address. Send the appropriate fees with the renewal form to our office before January 31st each year.

PREREQUISITES: None

Oklahoma Department of Consumer Credit
4545 North Lincoln Boulevard, Suite 164
Oklahoma City, Oklahoma 73105-3403
Phone: (405) 521-3653 | Fax: (405) 521-6740
In-state Consumer Hotline: (800) 448-4904