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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 14A, § 14A-3-512: Conduct of business other than making loans

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Where this section sits in the code
  1. OK Code
  2. Title 14A

A. 1. Except as provided in subsection B of this section, a

licensee who is authorized to make supervised loans under this Part

shall not engage in the business of making sales of goods at any

location where supervised loans are made; provided, however, a

licensee may make sales of goods through vending machines at the

location where supervised loans are made and may sell other goods

approved by the Administrator of the Department of Consumer Credit

which are paid for by a consumer in cash and not with the proceeds

of a loan by the licensee also making the sale. The word "location"

as used in this section means the entire space in which supervised

loans are made and said location must be separated from any location

in which merchandise is sold or displayed by walls which may be

broken only by a passageway to which the public is not admitted.

2. A sale of goods or services pursuant to a lender credit card

or similar arrangement made at a place of business other than that

of a licensee does not violate this section.

3. An occasional sale of property used in the ordinary course

of the business of the licensee does not violate this section.

4. A sale of items repossessed by the licensee does not violate

this section.

5. No licensee shall conduct the business of making loans under

the Consumer Credit Code under any name, or at any place of business

within this state, other than that stated in the license.

B. A licensee who is authorized to make supervised loans under

this Part may sell goods at any location where supervised loans are

made upon meeting the following conditions:

1. The Administrator of the Department of Consumer Credit shall

be notified in writing of the type and nature of goods to be sold at

the location of the licensee;

2. Any sale of goods authorized pursuant to this subsection

shall be purchased through a loan with the licensee; and

3. All goods sold by the licensee pursuant to this subsection

shall be restricted to purchase loans made only at A-lender rates

and terms.

The Administrator shall promulgate rules to ensure lenders

comply with the requirements of this subsection.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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