2014 Oklahoma Statutes
Title 14A. Consumer Credit Code
§14A-3-503. Application for license – Annual fee - Appointment of statutory agent – Bond - Criminal history check.

14A OK Stat § 14A-3-503 (2014) What's This?

(1) Application for a license shall be under oath, shall give the approximate location from which the business is to be conducted, and shall contain such relevant information as the Administrator of Consumer Credit may require. When making application for one or more licenses, the applicant shall pay an investigation fee and an annual license fee.

(2) Every licensee shall maintain on file with the Administrator a written appointment of a resident of this state as the agent for service of all judicial or other process or legal notice, unless the licensee has appointed an agent under another statute of this state. In case of noncompliance, such service may be made on the Administrator.

(3) Every applicant shall, also, at the time of filing such application, file with the Administrator, if required, a bond satisfactory to the Administrator and in an amount not to exceed Five Thousand Dollars ($5,000.00) for the first license and One Thousand Dollars ($1,000.00) for each additional license with a surety company qualified to do business in this state as surety, whose total liability in the aggregate shall not exceed the amount of such bond so fixed. The bond shall run to the state for the use of the state and of any person or persons who may have cause of action against the obligor of the bond under the provisions of this title. Such bond shall be conditional that the obligor will faithfully conform to and abide by the provisions of this title and to all rules lawfully made by the Administrator hereunder and will pay to the state and to any such person or persons any and all amounts of money that may become due or owing to the state or to such person or persons from such obligor under and by virtue of the provisions of this title during the calendar year for which the bond is given.

(4) As part of the investigation, the Administrator may conduct a national criminal history check pursuant to subsection B of Section 150.9 of Title 74 of the Oklahoma Statutes. The applicant shall furnish to the Administrator, upon request by the Administrator, a complete set of the applicant's fingerprints that shall be certified by an authorized law enforcement officer.

Added by Laws 1969, c. 352, § 3-503, eff. July 1, 1969. Amended by Laws 1987, c. 208, § 40, operative July 1, 1987; Laws 1987, c. 236, § 66, emerg. eff. July 20, 1987; Laws 2000, c. 217, § 15, eff. July 1, 2000; Laws 2009, c. 431, § 2, eff. July 1, 2009; Laws 2010, c. 415, § 1, eff. July 1, 2010.

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