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.
PREREQUISITES: Completed application includes a current financial statement showing net assets of at least $25,000.
2018 DDL Composite Annual Report
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
DDL NMLS Transition
Sample Repayment Plan
Deferred Deposit Loan - Notice of Cancellation Suggested Language