Source: http://www.creditdetailer.com/center/state-laws/ok-oklahoma
Timestamp: 2019-04-21 08:44:10+00:00

Document:
This act [FN1] shall be known and may be cited as the "Credit Services Organization Act".
[FN1] Title 24, § 131 et seq.
4. "Administrator" means the Administrator of the Department of Consumer Credit.
[FN1] 12 U.S.C.A § 1701 et seq.
[FN2] 26 U.S.C.A. § 501(c)(3).
[FN3] Title 59, § 2081 et seq.
If a credit services organization is in compliance with paragraph 1 of Section 3 of this act, [FN1] the salesperson, agent, or representative who sells the services of that organization is not required to obtain a surety bond and establish a trust account. Provided, however, said organization or entity shall be responsible for the acts of their employees or agents performed within the scope of their employment.
[FN1] Title 24, § 133.
Before the execution of a contract or agreement between the buyer and a credit services organization or before the receipt by the credit services organization of any money or other valuable consideration, whichever occurs first, the credit services organization shall provide the buyer with a statement, in writing, containing all the information required by Section 6 of this act. [FN1] The credit services organization shall maintain on file for a period of two (2) years an exact copy of the statement, personally signed by the buyer, acknowledging receipt of a copy of the statement.
[FN1] Title 24, § 136.
[FN1] Title 24, § 135.
[FN2] Title 24, § 133.
4. The credit services organization's principal business address which shall be the actual office location of the organization and the name and address of its agent in the state authorized to receive service of process.
A. Any buyer injured by a violation of this act may bring any action for recovery of damages. Judgment shall be entered for actual damages, but in no case less than the amount paid by the buyer to the credit services organization, plus reasonable attorney's fees and costs. An award may also be entered for punitive damages.
No person shall engage in business as a credit service organization without first obtaining a license from the Administrator pursuant to the provisions of the Credit Services Organization Act. Any extensions of credit brokered or arranged on behalf of a buyer by a credit service organization must comply with the provisions of the Uniform Consumer Credit Code [FN1] and the Credit Services Organization Act.
[FN1] Title 14A, § 1-101 et seq.
A. Upon the filing of an application and bond, payment of the annual license fee of One Hundred Dollars ($100.00), and an investigation fee of One Hundred Dollars ($100.00), the Administrator shall conduct an investigation. If the Administrator finds that the financial responsibility, experience, character and general fitness of the applicant are such as to warrant belief that the business will be operated pursuant to the Credit Services Organization Act [FN1] and rules promulgated pursuant thereto, the Administrator shall grant the application and issue to the applicant a license which will evidence his authority to do business under the provisions of the Credit Services Organization Act.
D. No license to engage in the business of a credit services organization shall be issued for any location if a license has been issued and is in effect under the provisions of Sections 3-501 through 3-514 of Title 14A of the Oklahoma Statutes. As used in this subsection the term "location" means the entire area in which a person licensed pursuant to any provision of Title 14A of the Oklahoma Statutes conducts business. No credit service organization may be connected with any location in which a person licensed pursuant to any provision of Title 14A of the Oklahoma Statutes conducts business, except by a passageway to which the public is not admitted.
The Administrator may issue more than one license to any one person upon compliance with the provisions of the Credit Services Organization Act as to each license. A licensee desiring to move his credit service operation to another location shall give thirty (30) days' written notice to the Administrator, who shall amend the license accordingly.
B. The hearing shall be held upon twenty (20) days' notice in writing, setting forth the time and place thereof and a concise statement of the facts alleged to warrant suspension or revocation. At the conclusion of the hearing, the Administrator shall prepare a written order setting forth the effective date of any suspension or revocation accompanied by findings of fact and a copy thereof shall be forthwith delivered to the licensee. Such order, findings and the evidence considered by the Administrator shall be filed with the public records of the Administrator.
C. Any licensee may surrender any license by delivering it to the Administrator with written notice of its surrender, but such surrender shall not affect the licensee's civil or criminal liability for acts committed prior thereto.
A. At such times as the Administrator may deem necessary, the Administrator or his duly authorized representative may make an examination of the place of business of each licensee and may inquire into and examine the transactions, books, accounts, papers, correspondence and records of such licensee insofar as they pertain to the business regulated by the Credit Services Organization Act. [FN1] Such books, accounts, papers, correspondence and records shall also be open for inspection at any reasonable time by any peace officer, without any need of judicial writ or other process. In the course of an examination, the Administrator or his duly authorized representative shall have free access to the office, place of business, files, safes and vaults of such licensee, and shall have the right to make copies of any books, accounts, papers, correspondence and records. The Administrator or his duly authorized representative, during the course of such examination, may administer oaths and examine any person under oath upon any subject pertinent to any matter about which the Administrator is authorized or required by the Credit Services Organization Act to consider, investigate or secure information. Any licensee who fails or refuses to permit the Administrator or his duly authorized representative to examine or make copies of such books or other relevant documents shall be deemed to be in violation of the Credit Services Organization Act and such failure or refusal shall constitute grounds for the suspension or revocation of such license. The information obtained in the course of any examination or inspection shall be confidential, except in civil or administrative proceedings conducted by the Administrator, or criminal proceedings instituted by the state. Each licensee shall pay to the Administrator an amount assessed by the Administrator to cover the direct or indirect cost of such examination, not to exceed Two Hundred Dollars ($200.00) in any calendar year.
D. Each licensee shall preserve or make available such books and records in this state relating to each of its credit service transactions for four (4) years from the date of the transaction, or two (2) years from the date of the final entry made thereon, whichever is later. Each licensee's system of records shall be accepted if it discloses such information as may be reasonably required pursuant to the Credit Services Organization Act. All agreements signed by customers shall be kept at an office in this state designated by the licensee, except when transferred under an agreement which gives the Administrator access thereto.
b. for any other purpose within the six-month period preceding the request.
A. Prior to requesting a consumer report for employment purposes, the requestor or user of the consumer report shall provide written notice to the person who is the subject of the consumer report. The notice shall inform the consumer that a consumer report will be used and the notice shall contain a box that the consumer may check to receive a copy of the consumer report. If the consumer requests a copy of the report, the user of the consumer report shall request that a copy be provided to the consumer when the user of the consumer report requests its copy from the credit reporting agency. The report sent to the consumer shall be provided at no charge to the consumer. As used in this section, "consumer report" shall have the same meaning as that term is defined in the federal Fair Credit Reporting Act, 15 U.S.C., Sections 1681 et seq.

References: § 131
 § 1701
 § 501
 § 2081
 § 133
 § 136
 § 135
 § 133
 § 1