Pawn Broker

STATUTES & RULES: Oklahoma Statutes: Title 59 § 1501 (Click "next section" on each page to advance)
Oklahoma Administrative Code: Title 160, Chapters 1,3,5,15

DESCRIPTION: This license allows a business to take goods of value on receipt from the public, making loans against them as security. The goods are then held for a fixed length of time for the buyer to repurchase, or then may be sold outright.

TIME FRAME TO ISSUE: The approval process for this license requires up to 60 days to complete.

FEES: The fees for this license include: a $125.00 one-time investigation fee, a $140.00 license fee ($70 if issued between July 1st & October 15), and a $200.00 examination fee of books and records for a total of $465.00. ($395.00 if issued between July 1st & October 15th)

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

LICENSING RENEWAL: This license may be renewed by submitting renewal documentation before December 1st each year..

PREREQUSITES: The business must have a surety bond of $5,000 per shop, and a reviewed financial statement showing at least $25,000 in net assets.

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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