Oklahoma Administrative Code
Title 260 - Office of Management and Enterprise Services
Chapter 135 - Service Oklahoma
Subchapter 3 - Licensed Operators
Part 7 - SPECIFIC FISCAL DUTIES
Section 260:135-3-31 - Advice of deposits and depositing procedure

(a) Licensed Operator to establish Service Oklahoma Licensed Operator account. Every licensed operator shall establish a Service Oklahoma bank account in a bank or bank authorized to do a banking business in this state. At any time that collected receipts total One Hundred Dollars ($100.00) or more, all funds due Service Oklahoma must be deposited into this account within one banking day of collection.

(b) Licensed operator to establish a separate operational account for each designated Service Oklahoma location. In addition, an operational account for each designated Service Oklahoma location must be established in which all other funds received by a licensed operator in the performance of his or her duties shall be deposited and shall not be commingled with any other funds.

(c) Entry of deposit information. The licensed operator is to record deposits made to their Service Oklahoma depository account by entering all required information into the Service Oklahoma's deposit entry system by the end of the same business day the deposit is made to the bank.

(d) Reconciliation with semimonthly report. All deposits that apply to a particular semimonthly report shall be listed on that report's remittance slip. Any discrepancy between the deposit and report totals must be detailed by the licensed operator on the report remittance slip.

(e) Checks. Payment by check shall be accepted, unless the applicant is within a penalty period, in which case acceptance of a check by the licensed operator is optional. All checks received must be made payable to Service Oklahoma and must include either the driver license number or Service Oklahoma identification number of the remitter. Postdated checks cannot be accepted.

(f) Insufficient checks. Should a licensed operator's bank notify them of an insufficient check being deposited into the Service Oklahoma account, the licensed operator must redeposit monies into the account to offset the debit. No Advice of Deposit is needed since the amount has already been included in a previous one.

(g) Change of bank. If changing banks, the licensed operator must request new banking papers from Service Oklahoma. The new banking papers must be completed and returned to Service Oklahoma before making any deposit in the new bank.

(h) Penalties for late deposits. If funds due Service Oklahoma are not deposited to the Service Oklahoma account within one banking business day of collection, a penalty of 1% of the deposited amount will be assessed. If the deposit is not made within five days of collection, the penalty increases to 3% of the deposit amount due.

(i) Penalties incurred not a part of licensed operator operating expenses. Any licensed operator who pays a penalty for failure to make timely payments may not allocate that payment as a part of operating expenses, but must use personal funds for payment of the penalty.