Okla. Stat. tit. 59, § 59-3150.9
This is the official text of Okla. Stat. tit. 59, § 59-3150.9, 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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Transferability and assignability – Change of control
Official statutory text
requests.
A. A license issued pursuant to this act is not transferable or
assignable.
B. 1. The prior written approval of the Administrator of the
Department of Consumer Credit is required for the continued
operation of a small loan business whenever a change in control of a
licensee is proposed. The Administrator may require information
deemed necessary to determine whether a new application is required.
Reasonable and actual costs incurred by the Administrator in
investigating a change-of-control request shall be paid by the
person requesting approval. If the person acquiring control of a
licensee is already licensed under this act, the person shall notify
the Administrator thirty (30) days prior to the acquisition.
2. Whenever control is acquired or exercised in violation of
this section, the license shall be deemed revoked as of the date of
the unlawful acquisition of control. The licensee or its
controlling person shall surrender the license to the Administrator
on demand.
Oklahoma Statutes - Title 59. Professions and Occupations Page 1526
C. A licensee shall notify the Administrator thirty (30) days
before any change in the licensee's principal place of business,
branch office or name.
A. A license issued pursuant to this act is not transferable or
assignable.
B. 1. The prior written approval of the Administrator of the
Department of Consumer Credit is required for the continued
operation of a small loan business whenever a change in control of a
licensee is proposed. The Administrator may require information
deemed necessary to determine whether a new application is required.
Reasonable and actual costs incurred by the Administrator in
investigating a change-of-control request shall be paid by the
person requesting approval. If the person acquiring control of a
licensee is already licensed under this act, the person shall notify
the Administrator thirty (30) days prior to the acquisition.
2. Whenever control is acquired or exercised in violation of
this section, the license shall be deemed revoked as of the date of
the unlawful acquisition of control. The licensee or its
controlling person shall surrender the license to the Administrator
on demand.
Oklahoma Statutes - Title 59. Professions and Occupations Page 1526
C. A licensee shall notify the Administrator thirty (30) days
before any change in the licensee's principal place of business,
branch office or name.
Status: in_force · Read it on the official government site
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