reglab/statecodes huggingface dataset:
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-1 - License required [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-1.1 - Licensure forms

Current through Vol. 41, No. 20, July 1, 2024
(a)
Application.
(1) The credit services organization license application shall be completed by the entity seeking a credit services organization 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 and not a denial.
(3) The Administrator shall grant or deny a license application within sixty (60) days from the day of filing unless the period is extended by written agreement between the applicant and the Administrator [24:143(C)].
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-2 - Application [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-3 - Investigations for licensure

Current through Vol. 41, No. 20, July 1, 2024
A thorough investigation shall be conducted of each applicant, and applicants shall provide such additional information as may be requested from the applicant for that purpose. In addition, the Administrator may consult outside sources, including law enforcement agencies, and may require the applicant's consent to release such other relevant information as the Administrator may deem necessary to determine financial responsibility, experience, character and general fitness of the applicant [24:143(A)]. It shall be within the discretion of the Administrator to determine the fitness of an applicant, provided that such discretion is not arbitrary or capricious and is, or will be, applied uniformly to all similarly situated applicants.
Amended at 9 Ok Reg 2275, eff 6-25-92; Amended at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-3.1 - License denials

Current through Vol. 41, No. 20, July 1, 2024
(a)
Denial notice.
The Administrator shall notify the applicant of the denial of a license application in writing stating the reasons for the denial, and the application fee for license shall be returned to the applicant, but the Administrator shall retain the investigation fee for license [24:143(B)]. The notice shall be sent by certified mail with return receipt requested or be delivered in person.
(b)
Hearing request.
The applicant may make a written request for a hearing on the application within thirty (30) days of receipt of the denial notice [24:143(B)].
(c)
Hearing notice.
(1) If the applicant makes a timely request for a hearing, a hearing shall be held within sixty (60) days of receipt of the request [24:143(B)]. However, the applicant shall be given twenty (20) days notice of the hearing in writing.
(2) The notice shall:
(A) state the time, place and nature of the hearing;
(B) state the legal authority and jurisdiction for the hearing;
(C) refer to the statutory sections and rules involved; and
(D) state the matters asserted briefly and plainly [75:309(B)(1) - (4)].
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-3.2 - Change of ownership

Current through Vol. 41, No. 20, July 1, 2024
(a) Thirty (30) days before any change of ownership of any credit services organization, the licensed owner shall notify the Administrator of the intent to change ownership, and the proposed new owner shall apply for a license. The Administrator shall notify the licensed owner and the proposed new owner when the new owner's license application has been granted. After the licensed owner surrenders its license and transfers the ownership interest, a license shall be issued to the new owner.
(b) If the change of ownership results in the closing of the existing location, then the licensed owner shall post an announcement on the front door listing the name, business telephone number and mailing and business addresses of the new owner. The announcement shall be posted before the ownership interest is transferred and shall remain posted until the existing location closes. The licensed owner shall certify to the Administrator the date the announcement was posted and shall attach a copy of the announcement.
(c) For purposes of this section, "change of ownership" means a change of an individual owner; a change of partners; a change of the service agent or a change of the principal parties in interest in a corporation.
Added at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-3.3 - Ownership of more than one credit services organization

Current through Vol. 41, No. 20, July 1, 2024
Each person who owns two (2) or more credit services organizations must separately license each such credit service organization [24:144(B)].
Added at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-3.4 - Moving or closing a location

Current through Vol. 41, No. 20, July 1, 2024
(a) At least thirty (30) days before the address of a credit service organization is changed, the owner shall notify the Administrator in writing. The owner shall post an announcement on the front door listing the address of the new location. The announcement shall remain on the front door until the location changes.
(b) At least thirty (30) days before a credit service organization is closed, the owner shall notify the Administrator in writing. The owner shall post an announcement on the front door listing the business telephone number and mailing and business address of another location, if any. The announcement shall remain posted until the existing credit service organization closes.
Added at 16 Ok Reg 2145, eff 6-25-99; Amended at 21 Ok Reg 2676, eff 7-12-04
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-4 - Annual examination [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-5 - License renewal [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-6 - Revocation, suspension, reinstatement and surrender of license [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-7 - Retention of records [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 3 - Licensing › Section 160:30-3-8 - Change of information [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 5 - Disclosures › Section 160:30-5-1 - Cancellation

Current through Vol. 41, No. 20, July 1, 2024
No right to cancel period shall begin to run until all disclosures have been properly provided to the buyer.
Amended at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 5 - Disclosures › Section 160:30-5-2 - General provisions [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 5 - Disclosures › Section 160:30-5-3 - Burden of proof [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 7 - Bond Requirements › Section 160:30-7-1 - Bond forms

Current through Vol. 41, No. 20, July 1, 2024
The Administrator shall prescribe and approve forms for the maintenance of bonds required under the Act.
Added at 9 Ok Reg 2275, eff 6-25-92; Amended at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 7 - Bond Requirements › Section 160:30-7-2 - Effective date of bond

Current through Vol. 41, No. 20, July 1, 2024
No bond shall be effective until received and accepted by the Administrator.
Added at 9 Ok Reg 2275, eff 6-25-92; Amended at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 7 - Bond Requirements › Section 160:30-7-3 - Cancellation or termination of bond

Current through Vol. 41, No. 20, July 1, 2024
Any person who seeks the termination or cancellation of any bond filed or maintained under the Act shall make written application to the Administrator thirty (30) days before the effective date of the termination or cancellation. The statement shall specify the justification for the termination or cancellation of the bond. If the Administrator approves the termination or cancellation of the existing bond, a new bond shall be filed and accepted by the Administrator before the existing bond is terminated or cancelled for the licensee to continue to operate, unless the licensee has been granted an exemption from the bond requirement.
Added at 9 Ok Reg 2275, eff 6-25-92; Amended at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 7 - Bond Requirements › Section 160:30-7-4 - Time of filing [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 9 Ok Reg 2275, eff 6-25-92; Revoked at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 7 - Bond Requirements › Section 160:30-7-5 - Exemption requirements

Current through Vol. 41, No. 20, July 1, 2024
It shall be the burden of the credit services organization to establish any claimed exemption from or exception to bond requirements under the Act. Any credit services organization which requests and receives an exemption shall notify the Administrator in writing within ten (10) days of any change of circumstance which shall or may affect the ability of the credit service organization to qualify for an exemption or exception. If an exemption is removed, the credit service organization shall not operate until a bond has been received and accepted by the Administrator.
Added at 9 Ok Reg 2275, eff 6-25-92; Amended at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 9 - Records › Section 160:30-9-1 - Records and changes

Current through Vol. 41, No. 20, July 1, 2024
(a) Each licensee shall preserve and make available such books and records related to each of its credit service transactions for four (4) years from the date of the initial transaction between the licensee and each consumer, or for two (2) years from the date of the final entry into such records is made thereon, whichever is later [24:146(D)]. The records shall be maintained for such time periods whether the credit services organization is currently licensed or previously licensed. Upon licensing, the licensee shall designate a location or locations in Oklahoma where records shall be maintained, and the records shall not be moved therefrom unless the Administrator has given written approval for another location.
(b) Each licensee's records shall be maintained in compliance with the Act and these rules. Each licensee shall keep current the information required for licensing by reporting any changes or additions to the information previously submitted to the Department within thirty (30) days of such change or addition unless the Act or these rules require otherwise.
Added at 16 Ok Reg 2145, eff 6-25-99; Amended at 17 Ok Reg 1583, eff 5-25-00; Amended at 21 Ok Reg 2676, eff 7-12-04
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 9 - Records › Section 160:30-9-2 - Examinations

Current through Vol. 41, No. 20, July 1, 2024
(a)
Initiation.
The Administrator, or duly appointed representatives, shall conduct an examination as deemed necessary [24:146(A)].
(b)
Procedure.
Each licensee shall ensure that all records are promptly and reasonably available to be examined and copied [24:146(A)].
(c)
Confidentiality.
The information obtained in the course of any examination shall be confidential, except in civil or administrative proceedings conducted by the Administrator, or criminal proceedings instituted by the state [24:146(A)].
(d)
Noncompliance.
In case of failure to comply with the Administrator's examination processes, the Administrator may initiate any authorized action, including acts for enforcement by the Administrator [24:146(A)].
(e)
Violations.
If the examination finds any violations of the Act or these rules, the Administrator may initiate any authorized action.
(f)
Informal disposition.
In order to avoid the expense and time involved in formal legal proceedings, it is the policy of the Administrator to afford parties who have engaged in unlawful acts and practices an opportunity to enter into stipulations, agreed settlements, consent orders or defaults when it appears to the Administrator that such procedure fully safeguards the public interest. The Administrator reserves the right in all matters to withhold the privilege of an informal disposition. All stipulations, agreed settlements, consent orders or defaults shall be public records.
Added at 16 Ok Reg 2145, eff 6-25-99; Amended at 28 Ok Reg 1120, eff 7-1-11
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 11 - Enforcement › Section 160:30-11-2 - Individual proceedings

Current through Vol. 41, No. 20, July 1, 2024
(a)
Allegations notice.
The Administrator shall notify the licensee of facts or conduct that warrant the intended action, and give the licensee an opportunity to show compliance with all lawful requirements for the retention of the license [75:314(C)(1)].
(b)
Violations.
Where the facts indicate that the licensee has not complied with all lawful requirements for the retention of the license, the Administrator may initiate any authorized action.
(c)
Informal disposition.
In order to avoid the expense and time involved in formal legal proceedings, it is the policy of the Administrator to afford licensees who have engaged in unlawful acts and practices an opportunity to enter into stipulations, agreed settlements, consent orders or defaults when it appears to the Administrator that such procedure fully safeguards the public interest. The Administrator reserves the right in all matters to withhold the privilege of an informal disposition. All stipulations, agreed settlements, consent orders or defaults shall be public records.
(d)
Hearing notice.
(1) If the matter is to be set for hearing, the licensee shall be given twenty (20) days notice in writing [24:145(B)].
(2) The notice shall:
(A) state the time, place and nature of the hearing;
(B) state the legal authority and jurisdiction for the hearing;
(C) refer to the statutory sections and rules involved; and
(D) state the matters asserted briefly and plainly [75:309(B)(1) - (4) and 24:145(B)].
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 11 - Enforcement › Section 160:30-11-3 - Hearing procedure - emergency actions

Current through Vol. 41, No. 20, July 1, 2024
(a)
Hearing notice.
(1) If the public health, safety, or welfare imperatively requires emergency action, such action, including the suspension of a license instanter or a cease and desist instanter, may be ordered pending the final outcome of proceedings instituted by the Administrator [75:314(C)(2) and 314.1]. In such cases, the Administrator shall notify the party of such action by certified mail with return receipt requested or personal delivery, and shall include in such notice an order of hearing. The hearing shall be held within ten (10) days of the notice unless postponed by written agreement between the party and the Administrator.
(2) The notice shall:
(A) state the time, place and nature of the hearing;
(B) state the legal authority and jurisdiction for the hearing;
(C) refer to the statutory sections and rules involved; and
(D) state the matters asserted briefly and plainly [75:309(B)(1) - (4) and 24:145(B)].
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 11 - Enforcement › Section 160:30-11-4 - Circumvention prohibited

Current through Vol. 41, No. 20, July 1, 2024
Whenever a licensee has an administrative action taken against a license, the Administrator may deny the licensee's request to inactivate such license, to sell or transfer the accounts under such license or to take any other action to circumvent or negate the administrative action during the time of the action or during the pendency of the action if on appeal.
Added at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 11 - Enforcement › Section 160:30-11-5 - Review of an order

Current through Vol. 41, No. 20, July 1, 2024
(a)
Rehearing, reopening or reconsideration.
(1)
Application.
(A) Any party aggrieved by a final order may apply for a rehearing, reopening or reconsideration within ten (10) days from the date of the order [75:317(A)].
(B) The application shall be in writing and assert a statutory ground for a rehearing, reopening or reconsideration.
(C) The statutory grounds are:
(i) newly discovered or newly available evidence, relevant to the issues;
(ii) need for additional evidence adequately to develop the facts essential to proper decision;
(iii) probable error committed by the Department in the proceeding or in the decision such as would be ground for reversal on judicial review of the order;
(iv) need for further consideration of the issues and the evidence in the public interest; or
(v) a showing that issues not previously considered ought to be examined in order properly to dispose of the matter [75:317(A)(1) - (5)].
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 30 - Credit Services Organization › Subchapter 11 - Enforcement › Section 160:30-11-6 - Civil and criminal actions

Current through Vol. 41, No. 20, July 1, 2024
This chapter shall not be interpreted as limiting the right of the Administrator to seek civil remedies or make criminal referrals for any violation of the provisions of the Act or these rules.
Added at 16 Ok Reg 2145, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 1 - General Provisions › Section 160:35-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The rules in this chapter provide regulations relating to the licensure of rental-purchase lessors.
Amended at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 1 - General Provisions › Section 160:35-1-1.1 - Severability

Current through Vol. 41, No. 20, July 1, 2024
If any provision of this chapter or the application thereof to any person or circumstance is for any reason held to be invalid, the remainder of the chapter and the application of such provision to persons or circumstances other than those as to which it is held invalid shall not be affected thereby.
Added at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 1 - General Provisions › Section 160:35-1-2 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
The following words or terms, when used in this chapter, shall have the following meaning, unless the context clearly indicates otherwise:
"Act"
means the Oklahoma Rental-Purchase Act beginning at §
									1950 of Title 59 of the Oklahoma Statutes.
"Administrator"
means the Administrator of the Department.
"APA"
means the Administrative Procedures Act beginning at §
									250 of Title 75 of the Oklahoma Statutes.
"Days"
mean calendar days. In computing any period of time for communications between a licensee and the Department or a court, the day of the event from which the designated period of time begins to run shall not be included. The last day of the period so computed shall be included, unless it is a day that the lessor, the Department or the office of the court clerk is closed.
"Department"
means the Oklahoma State Department of Consumer Credit.
"Lessor"
means a person who regularly provides the use of property through consumer rental-purchase agreements.
"Licensee"
means a lessor that has been given authority by the Administrator to engage in the rental-purchase business within Oklahoma.
Amended at 9 Ok Reg 2279, eff 6-25-92; Amended at 16 Ok Reg 2153, eff 6-25-99
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

Current through Vol. 41, No. 20, July 1, 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.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 3 - Licensing › Section 160:35-3-1.2 - Change of ownership

Current through Vol. 41, No. 20, July 1, 2024
(a) Thirty (30) days before any change of ownership of any licensed lessor, the licensed owner shall notify the Administrator of the intent to change ownership, and the proposed new owner shall apply for a license. The Administrator shall notify the licensed owner and the proposed new owner when the new owner's license application has been granted. After the licensed owner surrenders its license and transfers the ownership interest, a license shall be issued to the new owner.
(b) If the change of ownership results in the closing of the existing location, then the licensed owner shall post an announcement on the front door listing the name, business telephone number and mailing and business addresses of the new owner. The announcement shall be posted before the ownership interest is transferred and shall remain posted until the existing location closes. The licensed owner shall certify to the Administrator the date the announcement was posted and shall attach a copy of the announcement.
(c) For purposes of this section, "change of ownership" means a change of an individual owner; a change of partners; a change of the service agent or a change of the principal parties in interest in a corporation.
Added at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 3 - Licensing › Section 160:35-3-1.3 - Ownership of more than one rental-purchase offices

Current through Vol. 41, No. 20, July 1, 2024
Each person who owns two (2) or more rental-purchase offices must separately license each such office [59:1952(A)].
Added at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 3 - Licensing › Section 160:35-3-1.4 - Moving or closing a location

Current through Vol. 41, No. 20, July 1, 2024
(a) At least thirty (30) days before the address of the location to which the license applies is changed, the owner shall notify the Administrator in writing. The owner shall post an announcement on the front door listing the address of the new location. The announcement shall remain on the front door until the location changes.
(b) At least thirty (30) days before a location to which the license applies is closed, the owner shall notify the Administrator in writing. The owner shall post an announcement on the front door listing the business telephone number and mailing and business address of another location, if any. The announcement shall remain posted until the existing location closes.
Added at 16 Ok Reg 2153, eff 6-25-99; Amended at 21 Ok Reg 2677, eff 7-12-04
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 3 - Licensing › Section 160:35-3-3 - License renewal [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2279, eff 6-25-92; Revoked at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 3 - Licensing › Section 160:35-3-4 - Record retention [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2279, eff 6-25-92; Revoked at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 3 - Licensing › Section 160:35-3-5 - Examination of books and records [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2279, eff 6-25-92; Revoked at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 5 - Records › Section 160:35-5-1 - Records and changes

Current through Vol. 41, No. 20, July 1, 2024
(a) Each licensee shall preserve and make available such books and records related to the rental-purchase business for four (4) years from the date of the initial transaction between the lessor and each lessee, or for two (2) years from the date of the final entry into such records is made thereon, whichever is later. The records shall be maintained for such time periods whether the lessor is currently licensed or previously licensed. Upon licensing, the licensee shall either designate a location or locations in Oklahoma where records shall be maintained or agree in writing to provide copies of records kept at an out-of-state location to the Department upon demand, and the records shall not be moved from the designated location unless the Administrator has given written approval for another location.
(b) Each licensee's records shall be maintained in compliance with the Act and these rules. Each licensee shall keep current the information required for licensing by reporting any changes or additions to the information previously submitted to the Department within thirty (30) days of such change or addition unless the Act or these rules require otherwise [59:1952(C)].
Added at 16 Ok Reg 2153, eff 6-25-99; Amended at 17 Ok Reg 1585, eff 5-25-00; Amended at 21 Ok Reg 2677, eff 7-12-04
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 5 - Records › Section 160:35-5-2 - Examinations

Current through Vol. 41, No. 20, July 1, 2024
(a)
Initiation.
The Administrator, or duly appointed representatives, shall conduct an examination as deemed necessary.
(b)
Procedure.
Each licensee shall ensure that all records are promptly and reasonably available to be examined and copied.
(c)
Confidentiality.
The information obtained in the course of any examination shall be confidential, except in civil or administrative proceedings conducted by the Administrator, or criminal proceedings instituted by the state.
(d)
Noncompliance.
In case of failure to comply with the Administrator's examination processes, the Administrator may initiate any authorized action, including acts for enforcement by the Administrator.
(e)
Violations.
If the examination finds any violations of the Act or these rules, the Administrator may initiate any authorized action.
(f)
Informal disposition.
In order to avoid the expense and time involved in formal legal proceedings, it is the policy of the Administrator to afford parties who have engaged in unlawful acts and practices an opportunity to enter into stipulations, agreed settlements, consent orders or defaults when it appears to the Administrator that such procedure fully safeguards the public interest. The Administrator reserves the right in all matters to withhold the privilege of an informal disposition. All stipulations, agreed settlements, consent orders or defaults shall be public records.
Added at 16 Ok Reg 2153, eff 6-25-99; Amended at 28 Ok Reg 1121, eff 7-1-11
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 7 - Enforcement › Section 160:35-7-2 - Individual proceedings

Current through Vol. 41, No. 20, July 1, 2024
(a)
Allegations notice.
The Administrator shall notify the licensee of facts or conduct that warrant the intended action, and give the licensee an opportunity to show compliance with all lawful requirements for the retention of the license [75:314(C)(1)].
(b)
Violations.
Where the facts indicate that the licensee has not complied with all lawful requirements for the retention of the license, the Administrator may initiate any authorized action.
(c)
Informal disposition.
In order to avoid the expense and time involved in formal legal proceedings, it is the policy of the Administrator to afford licensees who have engaged in unlawful acts and practices an opportunity to enter into stipulations, agreed settlements, consent orders or defaults when it appears to the Administrator that such procedure fully safeguards the public interest. The Administrator reserves the right in all matters to withhold the privilege of an informal disposition. All stipulations, agreed settlements, consent orders or defaults shall be public records.
(d)
Hearing notice.
(1) If the matter is to be set for hearing, the licensee shall be given twenty (20) days notice in writing.
(2) The notice shall:
(A) state the time, place and nature of the hearing;
(B) state the legal authority and jurisdiction for the hearing;
(C) refer to the statutory sections and rules involved; and
(D) state the matters asserted briefly and plainly [75:309(B)(1) - (4)].
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 7 - Enforcement › Section 160:35-7-3 - License surrender

Current through Vol. 41, No. 20, July 1, 2024
Any licensee may surrender any license by delivering it to the Administrator with written notice of its surrender. Such surrender shall not affect the liability of the licensee for acts committed before the surrender of the license. A surrender shall not impair or affect the obligation of any preexisting lawful contract between the licensee and any lessee.
Added at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 7 - Enforcement › Section 160:35-7-4 - License reinstatement

Current through Vol. 41, No. 20, July 1, 2024
The Administrator may reinstate suspended licenses or issue new licenses to a person whose license or licenses have been revoked if the Administrator finds that the owner meets the licensing requirements then in effect and if the Administrator finds the circumstances for which the license was suspended or revoked no longer exists.
Added at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 7 - Enforcement › Section 160:35-7-5 - Hearing procedure - emergency actions

Current through Vol. 41, No. 20, July 1, 2024
(a)
Hearing notice.
(1) If the public health, safety, or welfare imperatively requires emergency action, such action, including the suspension of a license instanter or a cease and desist instanter, may be ordered pending the final outcome of proceedings instituted by the Administrator [75:314(C)(2) and 314.1]. In such cases, the Administrator shall notify the party of such action by certified mail with return receipt requested or personal delivery, and shall include in such notice an order of hearing. The hearing shall be held within ten (10) days of the notice unless postponed by written agreement between the party and the Administrator.
(2) The notice shall:
(A) state the time, place and nature of the hearing;
(B) state the legal authority and jurisdiction for the hearing;
(C) refer to the statutory sections and rules involved; and
(D) state the matters asserted briefly and plainly [75:309(B)(1) - (4)].
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 7 - Enforcement › Section 160:35-7-6 - Circumvention prohibited

Current through Vol. 41, No. 20, July 1, 2024
Whenever a licensee has an administrative action taken against a license, the Administrator may deny the licensee's request to inactivate such license, to sell or transfer the accounts under such license or to take any other action to circumvent or negate the administrative action during the time of the action or during the pendency of the action if on appeal.
Added at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 7 - Enforcement › Section 160:35-7-7 - Review of an order

Current through Vol. 41, No. 20, July 1, 2024
(a)
Rehearing, reopening or reconsideration.
(1)
Application.
(A) Any party aggrieved by a final order may apply for a rehearing, reopening or reconsideration within ten (10) days from the date of the order [75:317(A)].
(B) The application shall be in writing and assert a statutory ground for a rehearing, reopening or reconsideration.
(C) The statutory grounds are:
(i) newly discovered or newly available evidence, relevant to the issues;
(ii) need for additional evidence adequately to develop the facts essential to proper decision;
(iii) probable error committed by the Department in the proceeding or in the decision such as would be ground for reversal on judicial review of the order;
(iv) need for further consideration of the issues and the evidence in the public interest; or
(v) a showing that issues not previously considered ought to be examined in order properly to dispose of the matter [75:317(A)(1) - (5)].
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 35 - Oklahoma Rental-Purchase Act › Subchapter 7 - Enforcement › Section 160:35-7-8 - Civil and criminal actions

Current through Vol. 41, No. 20, July 1, 2024
This chapter shall not be interpreted as limiting the right of the Administrator to seek civil remedies or make criminal referrals for any violation of the provisions of the Act or these rules.
Added at 16 Ok Reg 2153, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 40 - Garnishment Limitations [Revoked] › Section 160:40-1-1 - Purpose [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 16 Ok Reg 2158, eff 6-25-99; Revoked at 17 Ok Reg 1586, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 40 - Garnishment Limitations [Revoked] › Section 160:40-1-2 - Limitation on garnishment of earnings for pay periods other than a week [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2281, eff 6-25-92; Amended at 16 Ok Reg 2158, eff 6-25-99; Revoked at 17 Ok Reg 1586, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 45 - Truth in Lending Rules › Subchapter 1 - General Provisions › Section 160:45-1-1 - Authority, purpose, coverage, organization, enforcement and liability

Current through Vol. 41, No. 20, July 1, 2024
(a)
Authority.
This chapter, known as Regulation Z, conforms to the regulations issued by the Board to implement the federal Truth In Lending Act, which is contained in title I of the Consumer Credit Protection Act, as amended ( 15 USC 1601 et seq.). This chapter does not contain fair credit billing provisions, because Oklahoma does not have an exemption from Chapter 4, Credit Billing, of the federal Truth In Lending Act, and Oklahoma does not have a Fair Credit Billing Act; thus, creditors in Oklahoma should recognize that regulation of fair credit billing requirements lies with federal authorities; as a convenience, the pertinent sections of the Code of Federal Regulations, 12 CFR 226, have been referenced.
(b)
Purpose.
The purpose of this chapter is to promote the informed use of consumer credit by requiring disclosures about its terms and cost. The chapter also gives consumers the right to cancel certain credit transactions that involve a lien on a consumer's principal dwelling and regulates certain credit card practices. The chapter does not govern charges for consumer credit. The chapter requires a maximum interest rate to be stated in variable-rate contracts secured by the consumer's dwelling. It also imposes limitations on home-equity plans that are subject to the requirements of 160:45-3-3 and mortgages that are subject to the requirements of 160:45-9-2. The chapter prohibits certain acts or practices in connection with credit secured by a consumer's principal dwelling.
(c)
Coverage.
(1) In general, this chapter applies to each individual or business that offers or extends credit when four conditions are met:
(A) the credit is offered or extended to consumers;
(B) the offering or extension of credit is done regularly;
1/
(C) the credit is subject to a finance charge or is payable by a written agreement in more than four installments; and
(D) the credit is primarily for personal, family or household purposes.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 45 - Truth in Lending Rules › Subchapter 1 - General Provisions › Section 160:45-1-3 - Exempt transactions

Current through Vol. 41, No. 20, July 1, 2024
This chapter does not apply to the following: 4/
(1)
Business, commercial, agricultural or organizational credit.
(A) An extension of credit primarily for a business, commercial or agricultural purpose.
(B) An extension of credit to other that a natural person, including credit to government agencies or instrumentalities.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 45 - Truth in Lending Rules › Subchapter 1 - General Provisions › Section 160:45-1-4 - Finance charge

Current through Vol. 41, No. 20, July 1, 2024
(a)
Definition.
The finance charge is the cost of consumer credit as a dollar amount. It includes any charge payable directly or indirectly by the consumer and imposed directly or indirectly by the creditor as an incident to or a condition of the extension of credit. It does not include any charge of a type payable in a comparable cash transaction.
(1)
Charges by third parties.
The finance charge includes fees and amounts charged by someone other than the creditor, unless otherwise excluded under this section, if the creditor -
(A) requires the use of a third party as a condition of or an incident to the extension of credit, even if the consumer can choose the third party; or
(B) retains a portion of the third-party charge, to the extent of the portion retained.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 45 - Truth in Lending Rules › Subchapter 3 - Open-End Credit › Section 160:45-3-1 - General disclosure requirements

Current through Vol. 41, No. 20, July 1, 2024
(a)
Form of disclosures.
(1) The creditor shall make the disclosures required by this subchapter clearly and conspicuously in writing,
7/
in a form that the consumer may keep.
8/
The disclosures required by this subchapter may be provided to the consumer in electronic form, subject to compliance with the consumer consent and other applicable provisions of the Electronic Signatures in Global and National Commerce Act (E-Sign Act) ( 15 U.S.C.§
											7001
et seq.
). The disclosures required by 160:45-3-2, 160:45-3-3, and 160:45-3-14 may be provided to the consumer in electronic form without regard to the consumer consent or other provisions of the E-Sign Act in the circumstances set forth in those sections.
(2) The terms "finance charge" and "annual percentage rate," when required to be disclosed with a corresponding amount or percentage rate, shall be more conspicuous than any other required disclosure.
9/
(3) Certain disclosures required under 160:45-3-2 for credit and charge card applications and solicitations must be provided in a tabular format or in a prominent location in accordance with the requirements of 160:45-3-2.
(4) For rules governing the form of disclosures for home-equity plans, see 160:45-3-3(1).
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 45 - Truth in Lending Rules › Subchapter 3 - Open-End Credit › Section 160:45-3-2 - Credit and charge card applications and solicitations

Current through Vol. 41, No. 20, July 1, 2024
(a)
General rules.
The card issuer shall provide the disclosures required under this section on or with a solicitation or an application to open a credit or charge card account.
(1)
Definition of solicitation.
For purposes of this section, the term "solicitation" means an offer by the card issuer to open a credit or charge card account that does not require the consumer to complete an application.
(2)
Form of disclosures.
(A) The disclosures in paragraphs (b)(1) through (7) of this section shall be provided in a prominent location on or with an application or a solicitation, or other applicable document, and in the form of a table with headings, content, and format substantially similar to any of the applicable tables found in Appendix G.
(B) The disclosures in paragraphs (b)(8) through (11) of this section shall be provided either in the table containing the disclosures in paragraphs (b)(1) through (7), or clearly and conspicuously elsewhere on or with the application or solicitation.
(C) The disclosure required under paragraph (b)(5) of this section shall contain the term "grace period."
(D) The terminology in the disclosures under paragraph (b) of this section shall be consistent with that to be used in the disclosures under 160:45-3-4 and 160:45-3-5.
(E) For an application or a solicitation that is accessed by the consumer in electronic form, the disclosures required under this section may be provided to the consumer in electronic form on or with the application or solicitation.
(3)
Exceptions.
This section does not apply to home-equity plans accessible by a credit or charge card that are of the type subject to the requirements of 160:45-3-3; overdraft lines of credit tied to asset accounts accessed by check-guarantee cards or by debit cards; or lines of credit accessed by check-guarantee cards or by debit cards that can be used only at automated teller machines.
(4)
Fees based on a percentage.
If the amount of any fee required to be disclosed under this section is determined on the basis of a percentage of another amount, the percentage used and the identification of the amount against which the percentage is applied may be disclosed instead of the amount of the fee.
(5)
Certain fees that vary by state.
If the amount of any fee referred to in paragraphs (b)(8) through (11) of this section varies from state to state, the card issuer may disclose the range of the fees instead of the amount for each state, if the disclosure includes a statement that the amount of the fee varies from state to state.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 45 - Truth in Lending Rules › Subchapter 3 - Open-End Credit › Section 160:45-3-3 - Requirements for home-equity plans

Current through Vol. 41, No. 20, July 1, 2024
The requirements of this section apply to open-end credit plans secured by the consumer's dwelling. For purposes of this section, an annual percentage rate is the annual percentage rate corresponding to the periodic rate as determined under 160:45-3-12(b).
(1)
Form of disclosures.
(A)
General.
The disclosures required by paragraph (4) of this section shall be made clearly and conspicuously and shall be grouped together and segregated from all unrelated information. The disclosures may be provided on the application form or on a separate form. The disclosure described in paragraph (4)(D)(iii), the itemization of third-party fees described in paragraph (4)(H), and the variable-rate information described in paragraph (4)(L) of this section may be provided separately from the other required disclosures.
(B)
Precedence of certain disclosures.
The disclosures described in paragraphs (4)(A) through (D)(ii) of this section shall precede the other required disclosures.
(C) For an application that is accessed by the consumer in electronic form, the disclosures required under this section may be provided to the consumer in electronic form on or with the application.