Oklahoma Administrative Code
Title 160 - Department of Consumer Credit
Chapter 35 - Oklahoma Rental-Purchase Act
Subchapter 3 - Licensing
Section 160:35-3-1.1 - Licensure forms

Universal Citation: OK Admin Code 160:35-3-1.1

Current through Vol. 42, No. 1, September 16, 2024

(a) Application.

(1) The lessor license application shall be completed by the entity seeking a rent-to-own license and shall include all fees, forms and exhibits requested.

(2) The Administrator may require any applicant to provide additional information. An application is not considered final until all requested information has been submitted. An application that is not reviewed for any failure on the part of the applicant shall be deemed to be a withdrawal of the application.

(b) License. The license, executed under the hand of the Administrator and delivered, is evidence of a lessor's authority to engage in the rental-purchase business within Oklahoma

(c) Renewal application. The lessor license renewal application shall be completed by entities previously issued a license and shall be submitted with all fees and postmarked on or before the first day of December of each year [59:1952(B)]. As a courtesy, the Department may mail a notice of renewal to each licensee, but the failure to do so shall not relieve any licensee of the duty to renew timely or impair the authority of the Administrator against any licensee.

Added at 16 Ok Reg 2153, eff 6-25-99

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