Okla. Stat. tit. 6, § 6-1513

money transmitter equipment - Fees - Violation and punishment

A. No person shall engage in the money services business in

this state without first securing a license to do so from the

Commissioner. Any person acting as agent or authorized delegate for

any licensee under the Oklahoma Financial Transaction Reporting Act

shall prominently display a copy of the principal's license

certificate at each place of business of the agent or authorized

delegate where money transmitter services are offered. It shall be

the responsibility of the licensee to provide a copy of the license

certificate to each agent or authorized delegate for display and to

obtain the return of such copy if an agent or authorized delegate is

no longer authorized to conduct business on behalf of a licensee.

B. Upon the effective date of this act, a supplier shall

provide to the Commissioner, on a form prescribed by the

Commissioner, a list of each person to whom money transmitter

equipment has been provided. A licensee shall provide the

Commissioner a list of each person acting in Oklahoma as agent or

authorized delegate on behalf of the licensee. The list shall be

updated each calendar quarter and shall be provided to the

Commissioner within thirty (30) days after the close of the calendar

quarter. The updated list shall reflect any additional persons to

whom money transmitter equipment has been provided since the last

reporting period. The list need only identify those persons for

whom the supplier has an address in this state or who the supplier

reasonably believes to be operating in this state.

C. Each application filed for issuance or renewal of a money

transmitter license must be accompanied by a fee in an amount

prescribed by the board. Notwithstanding any other deadlines or

terms prescribed by the board, a money transmitter license

certificate may be issued without a termination date; provided,

however, the license certificate must be renewed no later than

December 31 each calendar year.

D. Any person who violates the provisions of this section

shall, upon conviction, be guilty of a misdemeanor punishable by a

fine of not less than One Thousand Dollars ($1,000.00), or by

Oklahoma Statutes - Title 6. Banks and Trust Companies Page 192

imprisonment in the county jail for not more than one (1) year, or

by both such fine and imprisonment. Each day that any violation of

this section occurs or continues shall constitute a separate offense

and shall be punishable as a separate violation.

E. Any licensee providing money transmission services to

Oklahoma residents primarily through electronic means must maintain

security in the amount prescribed by rule of the board but not less

than Two Hundred Thousand Dollars ($200,000.00).

F. All fees collected under this section shall be deposited in

the Department revolving fund pursuant to Section 211.1 of this

title.