reglab/statecodes huggingface dataset:
Oklahoma Administrative Code › Title 158 - Construction Industries Board › Chapter 85 - Roofing Contractor Registration Regulations › Subchapter 13 - Procedures of the Variance and Appeals Board, Code Variance Applications and Fee, Code Interpretation Appeals › Section 158:85-13-1 - Procedures of the Variance and Appeals Board

Current through Vol. 41, No. 20, July 1, 2024
The Administrator shall call a meeting of the Variance and
				  Appeals Board after the Administrator receives proper application for a
				  variance accompanied by the fifty dollar ($50.00) filing fee or receives proper
				  notice of an appeal of the Administrator's interpretation of the standard of
				  installation as described in OAC 158:85-1-4 as applied to a particular
				  installation. Variance and Appeals Board meetings are held at the principal
				  offices of the Construction Industries Board referenced at OAC
				  158:1-3-1, or at another
				  location named by the Administrator and posted in compliance with the Oklahoma
				  Open Meetings Act.
Oklahoma Administrative Code › Title 158 - Construction Industries Board › Chapter 85 - Roofing Contractor Registration Regulations › Subchapter 13 - Procedures of the Variance and Appeals Board, Code Variance Applications and Fee, Code Interpretation Appeals › Section 158:85-13-2 - Code variance applications and fee

Current through Vol. 41, No. 20, July 1, 2024
(a) Applications for a variance from the
				adopted references in OAC 158:85-1-4 by an Oklahoma-registered roofing
				contractor, or other person as stated in statute, shall be submitted to the
				Administrator. An application form and the fifty-dollar ($50.00) filing fee
				shall accompany sufficient technical data submitted to support the proposed
				variance. Applications submitted after the use of materials or methods of
				construction not in conformance with the standard of installation as described
				in 158:85-1-4, or submitted where a city or town has adopted a more stringent
				roofing installation code by ordinance, shall not be considered by the Variance
				and Appeals Board.
(b) The
				applicant and the Administrator, or the Administrator's designee, may offer
				testimony to the Variance and Appeals Board which is relevant to the code
				variance requested. If testimony will be offered to support the application,
				the applicant shall include in the application the identity of the applicant's
				witnesses by name, profession or occupation, address and telephone number, and
				a concise summary of the expected testimony of each witness. If the
				Administrator, or the Administrator's designee, contests the application, and
				will offer testimony to rebut the application, the Administrator, or the
				Administrator's designee, will provide the applicant with the identity of the
				Administrator's, or the Administrator's designee's witnesses by name,
				profession or occupation, address and telephone number, and a concise summary
				of the expected testimony of each witness.
Oklahoma Administrative Code › Title 158 - Construction Industries Board › Chapter 85 - Roofing Contractor Registration Regulations › Subchapter 13 - Procedures of the Variance and Appeals Board, Code Variance Applications and Fee, Code Interpretation Appeals › Section 158:85-13-3 - Code interpretation appeals

Current through Vol. 41, No. 20, July 1, 2024
A roofing contractor, or any party who has an ownership
				  interest in or who is in responsible charge of the design of or work on the
				  roofing installation, may appeal the Roofing Unit's interpretation of the
				  standard of installation as described in OAC 158:85-1-4 as applied during the
				  Administrator's review or inspection of a roofing installation to the Variance
				  and Appeals Board created pursuant to 59 O.S. §
									1151.29.
				  Such appeals shall be made in writing to the Administrator within fourteen (14)
				  days after the Roofing Unit's code interpretation or receipt of written notice
				  of the alleged code violation by the registered roofing contractor, and shall
				  be heard only if based on a claim that:
(1) the true intent of the installation code
				has been incorrectly interpreted;
(2) the provisions of the code do not fully
				apply; or
(3) an equal or better
				form of installation is proposed.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 1 - Organization › Section 160:1-1-1.1 - Department of Consumer Credit

Current through Vol. 41, No. 20, July 1, 2024
(a) The Department is composed of the Administrator, the Deputy Administrator and such employees as are required and provided for by law [14A:6-506, 6-507 and 6-510].
(b) The policy-making and governing authority of the Department is the Commission on Consumer Credit [14A:6-501]. The Commission schedules regular meetings monthly in Oklahoma City [14A:6-504]. The meetings are open to the public [25:303].
Added at 16 Ok Reg 2129, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 1 - Organization › Section 160:1-1-1.2 - Duties of Administrator

Current through Vol. 41, No. 20, July 1, 2024
(a) The Administrator, as the head of the Department, is charged with the duty of administering and enforcing all provisions of:
(1) the Uniform Consumer Credit Code beginning at § 1-101 of Title 14A of the Oklahoma Statutes;
(2) the Oklahoma Rental-Purchase Act beginning at §
									1950 of Title 59 of the Oklahoma Statutes;
(3) the Oklahoma Pawnshop Act beginning at §
									1501 of Title 59 of the Oklahoma Statutes;
(4) the Precious Metal and Gem Dealer Licensing Act beginning at §
									1521 of Title 59 of the Oklahoma Statutes;
(5) the Credit Services Organization Act beginning at §
									131 of Title 24 of the Oklahoma Statutes;
(6) the Oklahoma Health Spa Act beginning at §
									2000 of Title 59 of the Oklahoma Statutes;
(7) the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) beginning at § 2095 of the Oklahoma Statutes and,
(8) the Deferred Deposit Lending Act beginning at §
									3101 of Title 59 of the Oklahoma Statutes.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 1 - Organization › Section 160:1-1-2 - Purpose of Commission, Administrator and Department [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2257, eff 6-25-92; Revoked at 16 Ok Reg 2129, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 1 - Organization › Section 160:1-1-3 - Organization [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2257, eff 6-25-92; Revoked at 16 Ok Reg 2129, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 1 - Organization › Section 160:1-1-4 - Records and communications [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2257, eff 6-25-92; Revoked at 16 Ok Reg 2129, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 1 - Organization › Section 160:1-1-5 - Meetings [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2257, eff 6-25-92; Revoked at 16 Ok Reg 2129, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 1 - Organization › Section 160:1-1-6 - Administrator [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2257, eff 6-25-92; Revoked at 16 Ok Reg 2129, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 3 - Procedure › Section 160:3-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The rules in this chapter provide the procedural framework for the Department of Consumer Credit and provide the necessary channels through which the public can gain information about the Department and its functions.
Amended at 16 Ok Reg 2130, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 3 - Procedure › Section 160:3-1-1.1 - Requests for information

Current through Vol. 41, No. 20, July 1, 2024
(a) Requests for information may be made electronically, by telephone, by facsimile, by mail, or by personal appearance at the Office of the Department of Consumer Credit.
(b) The Oklahoma Open Records Act beginning at §
								24A.1 of Title 51 of the Oklahoma Statutes sets forth the records that shall be open to any person for inspection, copying or mechanical reproduction.
(c) Where the request is for materials of which copies are not available and photocopying or reproduction by other means is required, such service shall be provided upon payment of the appropriate fee.
Added at 16 Ok Reg 2130, eff 6-25-99; Amended at 18 Ok Reg 2352, eff 6-25-01; Amended at 21 Ok Reg 2671, eff 7-12-04; Amended at 26 Ok Reg 166, eff 10-17-08 (emergency); Amended at 26 Ok Reg 2473, eff 7-11-09
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 3 - Procedure › Section 160:3-1-1.2 - Official actions

Current through Vol. 41, No. 20, July 1, 2024
(a)
Official acts in writing and open to the public.
All official acts of the Administrator shall be evidenced by written record. All final orders, decisions, opinions, rules and other written statements of policy or interpretations formulated, adopted or used in the discharge of the functions of the Administrator shall be available for public inspection. Official action of the Administrator shall not be bound or prejudiced by any informal statement or opinion made by the Administrator or employees of the Administrator.
(b)
Official action to be taken only in real cases, controversies or issues.
Official actions shall only be taken on matters formally pending before the Administrator for determination, and then only if such matter be an actual case, controversy or issue.
(c)
Declaratory rulings.
(1) An interested person may file a petition for a declaratory ruling as to the applicability of any rule or order. The petition shall:
(A) be in writing;
(B) refer to the rule or order involved;
(C) state the nature and purpose of the declaratory ruling sought;
(D) state the fact situation with respect to which the declaratory ruling is sought; and,
(E) list the name and address of the person requesting the ruling.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 3 - Procedure › Section 160:3-1-1.3 - Petitions for rulemaking

Current through Vol. 41, No. 20, July 1, 2024
(a) An interested person may file a petition requesting the promulgation, amendment or repeal of a rule [75:305]. The petition shall:
(1) be in writing;
(2) refer to the statutory section that authorizes the rulemaking action requested;
(3) refer to the statutory section and the rule involved;
(4) state the exact language requested;
(5) state the purpose of the rule sought;
(6) state a fact situation to which the rule sought will apply; and,
(7) list the name and address of the person requesting the rule.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 3 - Procedure › Section 160:3-1-1.4 - Complaint form

Current through Vol. 41, No. 20, July 1, 2024
The complaint form is used by the Department to gather information regarding grievances. This information is used to contact licensees to seek resolutions. The information obtained in the course of any complaint shall be confidential, except in civil or administrative, proceedings conducted by the Administrator, or criminal proceedings instituted by the state.
Added at 16 Ok Reg 2130, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 3 - Procedure › Section 160:3-1-2 - Procedure for rule-making and requests for declaratory rulings [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2259, eff 6-25-92; Revoked at 16 Ok Reg 2130, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 3 - Procedure › Section 160:3-1-3 - Procedure governing the denial, revocation or suspension of license [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2259, eff 6-25-92; Revoked at 16 Ok Reg 2130, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 5 - EVENTS › Section 160:5-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The rules in this chapter set forth the fees charged by the Department of Consumer Credit relating to the various entities that are regulated by the Department and to open records.
Added at 16 Ok Reg 2134, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 5 - EVENTS › Section 160:5-1-2 - Fees

Current through Vol. 41, No. 20, July 1, 2024
Fees charged by the Department are as follows:
(1)
Supervised Lenders
(A) $290.00 annual license fee.
(B) $425.00 investigation fee.
(C) A late fee of $10.00 per day for thirty (30) days shall be assessed for each license that is not renewed by December 1.
(D) $500.00 examination fee that is payable at the time of license application or license renewal.
(E) $25.00 fee for a duplicate or amended license
(F) $25.00 fee for a returned check
(G) A $50.00 late fee shall be assessed for any annual report received after May 1.
(H) All fees are non-refundable unless the Code or these rules require otherwise.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 1 - General Provisions › Section 160:10-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The rules in this chapter provide regulations to ensure that lessees of personal property receive meaningful disclosures that enable them to compare lease terms with other leases, and where appropriate, with credit transactions; to limit the amount of balloon payments in consumer lease transations; and to provide for the accurate disclosure of lease terms in advertising.
Amended at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 1 - General Provisions › Section 160:10-1-1.2 - Scope

Current through Vol. 41, No. 20, July 1, 2024
(a) This chapter applies to all persons that are lessors of personal property under consumer leases.
(b) This chapter does not apply to a lease transaction of personal property which is incident to the lease of real property and which provides that:
(1) the lessee has no liability for the value of the personal property at the end of the lease term except for abnormal wear and tear, and
(2) the lessee has no option to purchase the leased property.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 1 - General Provisions › Section 160:10-1-3 - Rules of construction [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2263, eff 6-25-92; Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 3 - Exempted Transactions [Revoked] › Section 160:10-3-1 - Exempted transactions [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-1 - General requirements [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2263, eff 6-25-92; Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-1.1 - General disclosure requirements

Current through Vol. 41, No. 20, July 1, 2024
(a)
General requirements.
A lessor shall make the disclosures required by 160:10-5-1.2, as applicable. The disclosures shall be made clearly and conspicuously in writing in a form the consumer may keep, in accordance with this section. The disclosures required by this chapter may be provided to the lessee 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.
). For an advertisement accessed by the consumer in electronic form, the disclosures required by 160:10-7-1.1 may be provided to the consumer in electronic form in the advertisement, without regard to the consumer consent or other provisions of the E-Sign Act.
(1)
Form of disclosures.
The disclosures required by 160:10-5-1.2 shall be given to the lessee together in a dated statement that identifies the lessor and the lessee; the disclosures may be made either in a separate statement that identifies the consumer lease transaction or in the contract or other document evidencing the lease. Alternatively, the disclosures required to be segregated from other information under paragraph (a)(2) of this section may be provided in a separate dated statement that identifies the lease, and the other required disclosures may be provided in the lease contract or other document evidencing the lease. In a lease of multiple items, the property description required by 160:10-5-1.2(1) may be given in a separate statement that is incorporated by reference in the disclosure statement required by this paragraph.
(2)
Segregation of certain disclosures.
The following disclosures shall be segregated from other information and shall contain only directly related information: 160:10-5-1.2(2) through 160:10-5-1.2(6), 160:10-5-1.2(7)(B), 160:10-5-1.2(8)(C), 160:10-5-1.2(9)(A), 160:10-5-1.2(10), and 160:10-5-1.2(13)(A). The headings, content, and format for the disclosures referred to in this paragraph shall be provided in a manner substantially similar to the applicable model form in the appendixes of this chapter.
(3)
Timing of disclosures.
A lessor shall provide the disclosures to the lessee prior to the consummation of a consumer lease.
(4)
Language of disclosures.
The disclosures required by 160:10-5-1.2 may be made in a language other than English provided that they are made available in English upon the lessee's request.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-1.3 - Renegotiations, Extensions, and Assumptions

Current through Vol. 41, No. 20, July 1, 2024
(a)
Renegotiation.
A renegotiation occurs when a consumer lease subject to this chapter is satisfied and replaced by a new lease undertaken by the same consumer. A renegotiation requires new disclosures, except as provided in paragraph (d) of this section.
(b)
Extension.
An extension is a continuation, agreed to by the lessor and the lessee, of an existing consumer lease beyond the originally scheduled end of the lease term, except when the continuation is the result of a renegotiation. An extension that exceeds six months requires new disclosures, except as provided in paragraph (d) of this section.
(c)
Assumption.
New disclosures are not required when a consumer lease is assumed by another person, whether or not the lessor charges an assumption fee.
(d)
Exceptions.
New disclosures are not required for the following, even if they meet the definition of a renegotiation or an extension:
(1) a reduction in the rent charge;
(2) the deferment of one or more payments, whether or not a fee is charged;
(3) the extension of a lease for not more than six months on a month-to-month basis or otherwise;
(4) a substitution of leased property with property that has a substantially equivalent or greater economic value, provided no other lease terms are changed;
(5) the addition, deletion, or substitution of leased property in a multiple-item lease, provided the average periodic payment does not change by more than 25 percent; or
(6) an agreement resulting from a court proceeding.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-1.4 - Electronic communication [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Added at 21 Ok Reg 2674, eff 7-12-04; Revoked at 25 Ok Reg 2161, eff 7-11-08
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-2 - Additional information [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2263, eff 6-25-92; Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-3 - Multiple lessors; multiple lessees [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2263, eff 6-25-92; Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-4 - Unknown information estimate [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2263, eff 6-25-92; Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-5 - Effect of subsequent occurrence [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2263, eff 6-25-92; Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-6 - Leap year [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2263, eff 6-25-92; Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-7 - Specific disclosure requirements [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2263, eff 6-25-92; Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 5 - Disclosures › Section 160:10-5-8 - Renegotiations or extensions [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 7 - Advertising › Section 160:10-7-1.1 - Advertising

Current through Vol. 41, No. 20, July 1, 2024
(a)
General rule.
An advertisement for a consumer lease may state that a specific lease of property at specific amounts or terms is available only if the lessor usually and customarily leases or will lease the property at those amounts or terms.
(b)
Clear-and-conspicuous standard.
Disclosures required by this section shall be made clearly and conspicuously.
(1)
Amount due at lease signing.
Except for the statement of a periodic payment, any affirmative or negative reference to a charge that is a part of the disclosure required under paragraph (d)(2)(B) of this section shall not be more prominent than that disclosure.
(2)
Advertisement of a lease rate.
If a lessor provides a percentage rate in an advertisement, the rate shall not be more prominent than any of the disclosures in 160:10-5-1.2, with the exception of the notice in 160:10-5-1.2(19) required to accompany the rate; and lessor shall not use the term "annual percentage rate," "annual lease rate," or equivalent term.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 7 - Advertising › Section 160:10-7-2 - Catalogues and multi-page advertisements [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2263, eff 6-25-92; Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 7 - Advertising › Section 160:10-7-4 - Merchandise tags for multiple item leases [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Revoked at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 10 - Consumer Leasing › Subchapter 9 - Records › Section 160:10-9-1 - Record retention

Current through Vol. 41, No. 20, July 1, 2024
(a) A lessor shall retain evidence of compliance with the requirements imposed by this chapter for a period of not less than two years after the date the disclosures are required to be made or an action is required to be taken.
(b) Each lessor shall, when directed by the Department, permit that authority or its duly authorized representative to inspect its relevant records and evidence of compliance with this chapter.
Amended at 9 Ok Reg 2263, eff 6-25-92; Amended at 17 Ok Reg 1528, eff 5-25-00
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 1 - General Provisions › Section 160:15-1-1 - Purpose

Current through Vol. 41, No. 20, July 1, 2024
The rules in this chapter provide regulations relating to the licensure of pawnbrokers, and provide regulations to promote the informed use of credit by requiring disclosures about its terms and cost. The rules in this chapter do not govern charges for pawn transactions.
Amended at 16 Ok Reg 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 1 - General Provisions › Section 160:15-1-1.1 - 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 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 1 - General Provisions › Section 160:15-1-3 - Definitions

Current through Vol. 41, No. 20, July 1, 2024
Except as otherwise specifically defined in this section, the definitions set forth in the Act are incorporated herein and made a part hereof. 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 Pawnshop Act beginning at §
									1501 of Title 59 of the Oklahoma Statutes.
"Advertisement"
means a commercial message in any medium that promotes, directly or indirectly, a credit transaction.
"APA"
means the Administrative Procedures Act beginning at §
									250 of Title 75 of the Oklahoma Statutes.
"Business Day"
means a day on which a creditor's offices are open to the public for carrying on substantially all of its business functions.
"Consumer"
means a person to whom credit is offered or extended.
"Consummation"
means the time at which a consumer becomes contractually obligated on a credit transaction. A pawn transaction is considered consummated at the time a contractual relationship is created between the creditor and the consumer, irrespective of the time of the performance of either party.
"Credit"
means the right to defer payment of debt or to incur and defer its payment.
"Creditor"
means a person who engages in the business of making pawn transactions as defined in the Act.
"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 pawnshop, the Department or the office of the court clerk is closed.
"Department"
means the Oklahoma State Department of Consumer Credit.
"Licensee"
means a pawnbroker that has been given authority by the Administrator to engage in pawn transactions within Oklahoma.
"Obligation"
means a pawn transaction as defined in the Act.
"Transaction"
means a pawn transaction as defined in the Act.
Amended at 9 Ok Reg 2167, eff 6-25-92; Amended at 16 Ok Reg 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 1 - General Provisions › Section 160:15-1-4 - Rules of construction [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2167, eff 6-25-92; Revoked at 16 Ok Reg 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 1 - General Provisions › Section 160:15-1-5 - Finance charge [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2267, eff 6-25-92; Revoked at 16 Ok Reg 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 1 - General Provisions › Section 160:15-1-7 - Enforcement and liability [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2267, eff 6-25-92; Revoked at 16 Ok Reg 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 2 - Disclosures › Section 160:15-2-1 - 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 and in a form that the consumer may keep. The disclosures shall be grouped together, shall be segregated from everything else, and shall not contain any information not directly related to the disclosures required under 160:15-2-2. The disclosures may include an acknowledgment of receipt, the date of the transaction, and the consumer's name, address, and account number. The creditor's identity and address under 160:15-2-2(1) may be disclosed together or separately from other required disclosures.
(2) The following disclosures required by 160:15-2-2 must be separate from the other disclosures under that section:
(A) The itemization of the amount financed under 160:15-2-2(3).
(B) The customer's description or the distinctive number from customer's driver's license or military identification under 160:15-2-2(11).
(C) A statement to the effect that the customer is not obligated to redeem the pledged goods and that the pledged goods may be forfeited to the pawnbroker thirty (30) days after the specified maturity date, provided that the pledged goods may be redeemed by the customer within thirty (30) days following the maturity date of the pawn transaction by payment of the originally agreed redemption price and the payment of an additional pawn finance charge equal to one-thirtieth (1/30) of the original monthly pawn finance charge for each day following the original maturity date, including the day on which the pledged goods are finally redeemed under 160:15-2-2(14).
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 2 - Disclosures › Section 160:15-2-2 - Content of Disclosures

Current through Vol. 41, No. 20, July 1, 2024
For each transaction, the creditor shall disclose the following information as applicable:
(1)
Creditor.
The address and identity of the creditor required to make the disclosures.
(2)
Amount Financed.
The "amount financed," using that term, and a brief description, such as "the amount of credit provided to you or on your behalf." The amount financed is the principal loan amount.
(3)
Itemization of amount financed.
(A) A separate written itemization of the amount financed, including:
(i) The amount of any proceeds distributed directly to the consumer.
(ii) The amount credited to the consumer's account with the creditor.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 2 - Disclosures › Section 160:15-2-3 - Subsequent disclosure requirements

Current through Vol. 41, No. 20, July 1, 2024
(a)
Refinancing.
A refinancing occurs when an existing obligation that was subject to this Chapter is satisfied and replaced by a new obligation undertaken by the same consumer. The new finance charge shall include any unearned portion of the old finance charge that is not credited to the existing obligation.
(b)
Changes in the Maturity Date.
An agreement between the customer and the pawnbroker to change the maturity date of a pawn transaction to a subsequent date shall be treated as a refinancing and,
(1) Shall be evidenced by a new writing signed by the consumer, and
(2) Shall contain a redisclosure of all information required by 160:15-2-2 in the form required by 160:15-2-1.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 2 - Disclosures › Section 160:15-2-4 - Determination of annual percentage rate

Current through Vol. 41, No. 20, July 1, 2024
(a)
Accuracy of annual percentage rate.
(1) The annual percentage rate for the purpose herein regulating disclosure, but not necessarily for the purpose of rate regulation, is a measure of the cost of credit, expressed as a yearly rate, that relates the amount and timing of value received by the consumer to the amount and timing of payments made. The annual percentage rate shall be determined in accordance with either the actuarial method or the United States Rule method. Explanations, equations and instructions for determining the annual percentage rate in accordance with the actuarial method are set forth in 160:15-2-4(b)(1).
(2) As a general rule, the annual percentage rate shall be considered accurate if it varies in either direction by not more than 1/8 of 1 percentage point from the actual annual percentage rate determined in accordance with (a)(1) of this section.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 2 - Disclosures › Section 160:15-2-5 - Advertising

Current through Vol. 41, No. 20, July 1, 2024
(a)
Actually available terms.
Without limitation to the scope of section 1509(f) of the Act, if an advertisement for credit states specific credit terms, it shall state only those terms that actually are or will be arranged or offered by the pawnbroker.
(b)
Advertisement of rate of finance charge.
If an advertisement states a rate of finance charge, it shall state the rate as an "annual percentage rate," using that term. The advertisement shall not state any other rate, except that a simple annual rate or periodic rate that is applied to an unpaid balance may be stated in conjunction with, but not more conspicuously than, the annual percentage rate.
(c)
Advertisement of terms that require additional disclosures.
(1) If any of the following terms are set forth in an advertisement, the advertisement shall meet the requirements of (c)(2) of this Section:
(A) The amount or percentage of any downpayment.
(B) The number of payments or period of repayment.
(C) The amount of any payment.
(D) The amount of any finance charge.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 2 - Disclosures › Section 160:15-2-6 - Use of annual percentage rate in oral disclosures

Current through Vol. 41, No. 20, July 1, 2024
In a oral response to a consumer's inquiry about the cost of closed-end credit, only the annual percentage rate shall be stated, except that a simple annual rate or periodic rate also may be stated if it is applied to an unpaid balance. If the annual percentage rate cannot be determined in advance, the annual percentage rate for a sample transaction shall be stated, and other cost information for the consumer's specific transaction may be given.
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 3 - Records › Section 160:15-3-1 - 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 pawn transactions for four (4) years from the date of the initial transaction between the pawnshop and each consumer, or for two (2) years from the date of the final entry into such records is made thereon, whichever is later [59:1508(F)]. The records shall be maintained for such time periods whether the pawnshop 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 9 Ok Reg 2267, eff 6-25-92; Revoked at 16 Ok Reg 2135, eff 6-25-99; Amended at 17 Ok Reg 1544, eff 5-25-00; Amended at 21 Ok Reg 2675, eff 7-12-04
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 3 - Records › Section 160:15-3-1.1 - 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 [59:1508(A)].
(b)
Procedure.
Each licensee shall ensure that all records are promptly and reasonably available to be examined and copied [59:1508(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 [59:1508(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 [59:1508(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 2135, eff 6-25-99; Amended at 28 Ok Reg 1120, eff 7-1-11
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 3 - Records › Section 160:15-3-2 - Inspection of records [REVOKED]

Current through Vol. 41, No. 20, July 1, 2024
Amended at 9 Ok Reg 2267, eff 6-25-92; Revoked at 16 Ok Reg 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 5 - Licensing › Section 160:15-5-1 - Licensure forms

Current through Vol. 41, No. 20, July 1, 2024
(a)
Application.
(1) The pawnbroker license application shall be completed by the entity seeking a pawnbroker's 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 filing of a final application unless the period is extended by written agreement between the applicant and the Administrator [59:1505(C)].
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 5 - Licensing › Section 160:15-5-2 - 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 [59:1505(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.
Added at 16 Ok Reg 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 5 - Licensing › Section 160:15-5-3 - 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 [59:1505(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 [59:1505(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 [59:1505(C)]. 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 15 - Pawn Transactions › Subchapter 5 - Licensing › Section 160:15-5-4 - Change of ownership

Current through Vol. 41, No. 20, July 1, 2024
(a) Thirty (30) days before any change of ownership of any pawnshop, 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 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 5 - Licensing › Section 160:15-5-5 - Ownership of more than one pawnshop

Current through Vol. 41, No. 20, July 1, 2024
Each person who owns two (2) or more pawnshops must separately license each such pawnshop [59:1506(B)].
Added at 16 Ok Reg 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 5 - Licensing › Section 160:15-5-6 - 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 pawnshop 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 pawnshop is to be 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 pawnshop closes.
Added at 16 Ok Reg 2135, eff 6-25-99; Amended at 21 Ok Reg 2675, eff 7-12-04
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 7 - Bond Requirements › Section 160:15-7-1 - Bond requirements

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 [59:1504(B)]. No bond shall be effective until received and accepted by the Administrator. Any person who seeks the termination or cancellation of any bond field 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.
Added at 16 Ok Reg 2135, eff 6-25-99
Oklahoma Administrative Code › Title 160 - Department of Consumer Credit › Chapter 15 - Pawn Transactions › Subchapter 9 - Enforcement › Section 160:15-9-2 - 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 [59:1507(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 59:1507(B)].