Okla. Stat. tit. 59, § 59-3116
This is the official text of Okla. Stat. tit. 59, § 59-3116, part of Oklahoma’s Stat. tit. 59, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 59,." Browse the sections below, each linked to its official government source.
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Additional powers of Administrator
Official statutory text
A. In addition to other powers granted by this act, the
Administrator of Consumer Credit may, within the limitations
provided by law:
1. Maintain a list of licensees, which shall be available to
interested persons and the public. The Administrator shall also
provide a toll-free number whereby consumers may obtain information
about licensees;
2. Establish a complaint process whereby an aggrieved debtor or
a member of the public may file a complaint against a licensee or
nonlicensee who violates any provision of this act. The
Administrator shall hold hearings upon the request of a party to the
complaint, make findings of fact and conclusions of law, issue cease
and desist orders and suspend or revoke a license granted under this
act;
3. Take action designed to obtain voluntary compliance with
this act or commence proceedings on the Administrator’s own
initiative;
4. Counsel persons and groups on their rights and duties under
this act; and
5. With approval of the Commission on Consumer Credit,
promulgate, amend and repeal administrative rules to carry out the
provisions of the act, as provided by the Administrative Procedures
Act.
B. The Administrator may conduct a study regarding the system
of verification of the existence of deferred deposit loans as
provided in paragraph 2 of subsection B of Section 9 of this act to
determine:
1. If the system adequately provides lenders with information
as to the existence of outstanding deferred deposit loans made by
other lenders; and
2. If it is feasible for the Department of Consumer Credit to
develop and maintain a database of outstanding deferred deposit
loans to provide such information to lenders.
The Administrator shall consult with representatives of deferred
deposit lenders, advocates for consumers of this state and other
interested parties to conduct the study. The Administrator shall
issue a report of any such findings to the President Pro Tempore of
the Senate and the Speaker of the House of Representatives not later
than December 1, 2004.
Administrator of Consumer Credit may, within the limitations
provided by law:
1. Maintain a list of licensees, which shall be available to
interested persons and the public. The Administrator shall also
provide a toll-free number whereby consumers may obtain information
about licensees;
2. Establish a complaint process whereby an aggrieved debtor or
a member of the public may file a complaint against a licensee or
nonlicensee who violates any provision of this act. The
Administrator shall hold hearings upon the request of a party to the
complaint, make findings of fact and conclusions of law, issue cease
and desist orders and suspend or revoke a license granted under this
act;
3. Take action designed to obtain voluntary compliance with
this act or commence proceedings on the Administrator’s own
initiative;
4. Counsel persons and groups on their rights and duties under
this act; and
5. With approval of the Commission on Consumer Credit,
promulgate, amend and repeal administrative rules to carry out the
provisions of the act, as provided by the Administrative Procedures
Act.
B. The Administrator may conduct a study regarding the system
of verification of the existence of deferred deposit loans as
provided in paragraph 2 of subsection B of Section 9 of this act to
determine:
1. If the system adequately provides lenders with information
as to the existence of outstanding deferred deposit loans made by
other lenders; and
2. If it is feasible for the Department of Consumer Credit to
develop and maintain a database of outstanding deferred deposit
loans to provide such information to lenders.
The Administrator shall consult with representatives of deferred
deposit lenders, advocates for consumers of this state and other
interested parties to conduct the study. The Administrator shall
issue a report of any such findings to the President Pro Tempore of
the Senate and the Speaker of the House of Representatives not later
than December 1, 2004.
Status: in_force · Read it on the official government site
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