{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-211","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-211","heading":"Fee for small loans – Payments to Consumer Credit","body":"Counseling Revolving Fund and Personal Financial Literacy Education\n\nRevolving Fund.\n\nA. Each licensee authorized to make small loans shall pay\n\nthirty cents ($0.30) for each loan entered into to be deposited into\n\nthe Consumer Credit Counseling Revolving Fund and the Personal\n\nFinancial Literacy Education Revolving Fund as follows:\n\n1. Eight cents ($0.08) of each thirty-cent payment shall be\n\ndeposited into the Consumer Credit Counseling Revolving Fund; and\n\n2. Twenty-two cents ($0.22) of each thirty-cent payment shall\n\nbe paid to the Office of the State Treasurer for deposit into the\n\nPersonal Financial Literacy Education Revolving Fund.\n\nB. The schedule for payment into the Consumer Credit Counseling\n\nRevolving Fund shall be determined by the Administrator of Consumer\n\nCredit. The schedule for payments to the Office of the State\n\nTreasurer for deposit into the Personal Financial Literacy Education\n\nRevolving Fund shall be made by each lender quarterly.\n\nC. Ten percent (10%) of each scheduled payment of fees pursuant\n\nto this section made into the Consumer Credit Counseling Revolving\n\nFund may be transferred to the Consumer Credit Administrative\n\nExpenses Revolving Fund established in Section 6-301 of Title 14A of\n\nthe Oklahoma Statutes for expenses incurred by the Administrator of\n\nConsumer Credit in administering the requirements of subsection D of\n\nthis section.\n\nD. Funds collected and deposited in the Consumer Credit\n\nCounseling Revolving Fund pursuant to this section shall be paid by\n\nthe Administrator of Consumer Credit to a third-party, Oklahoma-\n\nbased consumer credit counseling provider with a verifiable history\n\nof work with both industry and consumers in the appropriate field\n\nfor a program of research and implementation of voluntary consumer\n\ncounseling and education specifically designed for consumers\n\nutilizing deferred deposit loans. The program shall be:\n\n1. Selected by a bid process, pursuant to The Oklahoma Central\n\nPurchasing Act; and\n\n2. Designed in consultation with representatives of both the\n\nindustry and consumers.\n\nE. Funds paid to the Office of the State Treasurer for deposit\n\ninto the Personal Financial Literacy Education Revolving Fund\n\npursuant to this section shall be used by the State Department of\n\nEducation for purposes provided in Section 11-103.6h of Title 70 of\n\nthe Oklahoma Statutes.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"29c56b4f2bff112369f5c6584cf9186ea936c3e5257d955e4dd1ea84591b12ca","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-210","next":"us-ok/okla.-stat.-tit.-14a-14a-3-301"},"notice":"GroundRules: Original legal text. Not legal advice."}