Oklahoma Administrative Code
Title 85 - State Banking Department
Chapter 15 - Money Service Businesses
Subchapter 3 - Money Transmission Licenses
Section 85:15-3-6 - Net worth

Each licensee under the Act shall at all times maintain a minimum net worth of at least Two Hundred Seventy-five Thousand Dollars ($275,000.00) in order to engage in money transmission at one (1) to fifty (50) locations, Five Hundred Thousand Dollars ($500,000.00) in order to engage in money transmission at fifty-one (51) to three hundred (300) locations, One Million Five Hundred Thousand Dollars ($1,500,000.00) in order to engage in money transmission at three hundred one (301) to eight hundred (800) locations, or Three Million Dollars ($3,000,000.00) in order to engage in money transmission at over eight hundred (800) locations. Net worth must be demonstrated annually by filing with the Commissioner, at the time of application for a license and at each time of license renewal, the most current annual audited financial statement of the licensee certified by a licensed public accountant holding a permit to practice in this state or by a certified public accountant. For purposes of this section, a financial statement shall be deemed to be current if it is no more than twelve (12) months old. Financial statements may be submitted to the Commissioner at any time in order to maintain a current status. The Commissioner may require, upon request, a more current statement than the last statement submitted by the licensee.

Added at 24 Ok Reg 843, eff 5-11-07