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 (Click link and select "VIEW CODE", then Title 160 Department of Consumer Credit)
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 $425.00 one-time investigation fee, a $290.00 license fee and a $500.00 examination fee of books and records.
LICENSING PERIOD: This license is valid for one year, beginning on January 1st. Click here to download the application and instructions.
LICENSING RENEWAL: This license may be renewed by submitting documentation by December 1st each year.
Click here for the 2020 Renewal Form
PREREQUISITES: The business must have a $5,000 surety bond, and a financial statement showing net assets of at least $25,000.
2019 Loan Rate Chart, effective July 1, 2019
2019 Monthly Refund Chart, effective July 1, 2019
2019 Daily Refund Chart, effective July 1, 2019
2019 Dollar Changes, effective July 1 2019
Oklahoma Consumer Finance Association Website
Independent Finance Institute Website
2019 Loan Rate Chart, effective November 1, 2019
2019 Monthly Refund Chart, effective November 1, 2019
2019 Daily Refund Chart, effective November 1, 2019
2019 Dollar Changes, effective November 1, 2019