2015 Oklahoma Statutes
Title 14A. Consumer Credit Code
§14A-3-512. Conduct of business other than making loans.
(1) A licensee who is authorized to make supervised loans under this Part shall not engage in the business of making sales of goods at any location where supervised loans are made; provided, however, a licensee may make sales of goods through vending machines at the location where supervised loans are made and may sell other goods approved by the Administrator of the Department of Consumer Credit which are paid for by a consumer in cash and not with the proceeds of a loan by the licensee also making the sale. The word "location" as used in this section means the entire space in which supervised loans are made and said location must be separated from any location in which merchandise is sold or displayed by walls which may be broken only by a passageway to which the public is not admitted.
(2) A sale of goods or services pursuant to a lender credit card or similar arrangement made at a place of business other than that of a licensee does not violate this section.
(3) An occasional sale of property used in the ordinary course of the business of the licensee does not violate this section.
(4) A sale of items repossessed by the licensee does not violate this section.
(5) No licensee shall conduct the business of making loans under this act under any name, or at any place of business within this state, other than that stated in the license.
Added by Laws 1969, c. 352, § 3-512, eff. July 1, 1969. Amended by Laws 1997, c. 288, § 1.
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