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. Click here to download the application and instructions.
RENEWAL PERIOD: This license may be renewed by submitting renewal documents and fees by December 1st each year.
Click here for 2018 Renewal Form
PREREQUISITES: Completed application includes a current financial statement showing net assets of at least $25,000.
Scope of examinations expanded to include reconciliation of amounts paid pursuant to 59 O.S. § 3119
Inclusion of the five cent payment for consumer credit counseling in the finance charge of a deferred deposit loan
Deferred Deposit Lending in the State of Oklahoma
2016 DDL Composite Annual Report
2015 DDL Composite Annual Report
2014 DDL Composite Annual Report
2013 DDL Composite Annual Report
DDL NMLS Transition
Sample Repayment Plan
Deferred Deposit Loan - Notice of Cancellation Suggested Language
Deferred Deposit Lender Examination Guidelines