Supervised Lender

Pen

STATUTE: 14A O.S. 1-101 (Click "next section" on each page to advance)
Oklahoma Administrative Code: Title 160, Chapters 1, 3, 5, 10, 20, 25, 45, 65

DESCRIPTION: This license allows a lender, as a business, to make or take assignment of supervised loans from other Consumer Credit organizations.

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

FEES: The fees for this license include a $225.00 one-time investigation fee, a $190.00 license fee ($95.00. if issued between July 1st & October 15th) and a $300.00 examination fee of books and records for a total of $715.00. ($620.00 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 documentation by December 1^st each year.

PREREQUISITES: The business must have a $5,000 surety bond, and a financial statement showing net assets of at least $25,000.

Dollar Change Rules (July 1, 2009) No Changes for 2009

3-508B Rates / Refunds Chart (July 1, 2009) No Changes for 2009

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