Rent to Own Dealer

Pen

STATUTES & RULES: Oklahoma Statutes: Title 59 § 1950 (Click "next section" on each page to advance)
Oklahoma Administrative Code: Title 160, Chapters 1,3,5,35

DESCRIPTION: This license allows a business to contract with individuals to provide the use of personal property for personal, family or household use in return for compensation. The initial period of agreement is 4 months or less: renewal with each payment thereafter. The renewal with additional payments allows the consumer to become the owner of the property.

TIME FRAME TO ISSUE: The approval process for this license requires 30 days to complete.

FEES: The fees for this license include a $100.00 license fee ($50. if issued between July 1st & October 15th) and a $200.00 examination fee of books and records for a total of $300.00.

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

RENEWAL PERIOD: This license may be renewed by submitting documentation by December 1^st 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