Okla. Stat. tit. 14A, § 14A-3-502
This is the official text of Okla. Stat. tit. 14A, § 14A-3-502, part of Oklahoma’s Stat. tit. 14A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 14A,." Browse the sections below, each linked to its official government source.
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Authority to make supervised loans - Administrative
Official statutory text
actions against unlicensed persons.
(1) Unless a person is a supervised financial organization or
has first obtained a license from the Administrator authorizing the
person to make supervised loans, a person shall not engage in the
business of:
(a) making supervised loans; or
(b) taking assignments and undertaking direct collection
of payments from or enforcement of rights against
debtors arising from supervised loans.
(2) In addition to civil and criminal penalties, the
Administrator may initiate administrative action against an
unlicensed person as if the person held a license if the person is
found to be engaging in the business of making supervised loans.
(1) Unless a person is a supervised financial organization or
has first obtained a license from the Administrator authorizing the
person to make supervised loans, a person shall not engage in the
business of:
(a) making supervised loans; or
(b) taking assignments and undertaking direct collection
of payments from or enforcement of rights against
debtors arising from supervised loans.
(2) In addition to civil and criminal penalties, the
Administrator may initiate administrative action against an
unlicensed person as if the person held a license if the person is
found to be engaging in the business of making supervised loans.
Status: in_force · Read it on the official government site
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